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    6631 E Cheery Lynn Road

    Scottsdale, AZ 85251
    • $1,150,000
    • STATUS: Active
    • ID#: 6302801
    UPDATED: 45 min ago
    $1,150,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1958
    County:
    Area:

    School Ratings & Info

    Description

    Welcome to Four on Cherry Lynn. This four plex is in the heart of Old Town Scottsdale in nice Cul-del-sac lot! This property is an amazing opportunity to do a full remodel! Property has been self managed with month to month tenants. Currently below market rents 500-600. Market rate once renovated 1500-1900. One 1 bedroom 1 bath and Three 2 bedroom 1 bath units. Once remodel proforma cap 5.5-6 cap. Could also make into a Air B&B for even a higher return. All facts and figures are approximate buyer verify MLS information. Drive by only tenants are unaware of sale. Also available as part of a portfolio sale with same owners and unit mix and rent are 6616 E Avalon, 6622 E Avalon, and 6628 E Avalon also available for $1,150,000 each.

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    © 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. The ARMLS logo indicates a property listed by a real estate brokerage other than Long Realty Company. Data last updated 2021-10-28T13:12:07.097.
    www.arizonahomesearch.com/homes/122085376
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    6631 E Cheery Lynn Road Scottsdale, AZ 85251

    • Price: $1,150,000
    • Status: Active
    • Updated: 45 min ago
    • ID#: 6302801
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    1958
    Built
    Neighborhood:
    Holiday Park 2
    County:
    Maricopa
    Area:
    Scottsdale
    School District:
    048 - Scottsdale Unified District
    Property Description
    Welcome to Four on Cherry Lynn. This four plex is in the heart of Old Town Scottsdale in nice Cul-del-sac lot! This property is an amazing opportunity to do a full remodel! Property has been self managed with month to month tenants. Currently below market rents 500-600. Market rate once renovated 1500-1900. One 1 bedroom 1 bath and Three 2 bedroom 1 bath units. Once remodel proforma cap 5.5-6 cap. Could also make into a Air B&B for even a higher return. All facts and figures are approximate buyer verify MLS information. Drive by only tenants are unaware of sale. Also available as part of a portfolio sale with same owners and unit mix and rent are 6616 E Avalon, 6622 E Avalon, and 6628 E Avalon also available for $1,150,000 each.
    Exterior Features

    Construction Block Construction Finish Painted Covered Parking Spaces 0.00 Lot Size Dimensions 8281 SF Parking Street Parking Roads Asphalt Roofing Built-Up

    Interior Features

    1 Bedroom Unit Avg Sq Ft 545 1 Bedroom Unit Baths 1 2 Bedroom Unit Avg Sq Ft 800 2 Bedroom Units Baths 1 3 Bedroom Unit Avg Sq Ft 0 3 Bedroom Unit Baths 0 4 Bedroom Unit Avg Sq Ft 0 4 Bedroom Unit Baths 0 Appliances Included Bi Oven/Range Cooling OtherSee Remarks Efficiency Unit Avg Sq Ft 0 Efficiency Unit Baths 0 Floors Ceramic Tile Heating OtherSee Remarks

    Property Features

    1 Bedroom Unit Avg Rent 0.00 1 Bedroom Units 1 2 Bedroom Unit Avg Rent 0.00 2 Bedroom Units 3 3 Bedroom Unit Avg Rent 0.00 3 Bedroom Units 0 4 Bedroom Unit Avg Rent 0.00 4 Bedroom Units 0 Adjusted Gross Inc 80370.00 Annual Elec Exp 0.00 Annual Gas Exp 0.00 Annual Ins Exp 1600.00 Annual Land Lse Exp 0.00 Annual Landscape Exp 1200.00 Annual Legal And Acctg 0.00 Annual Maint Exp 2000.00 Annual Mgmt Exp 0.00 Annual Other Expense 0.00 Annual Ownr Asoc Fee 0.00 Annual Pad Fee 0.00 Annual Rplcmnt Rsrvs 0.00 Annual Trash Exp 1000.00 Annual Wtr Swr Exp 2500.00 Community Amenities No Pool Cross Street 68th Street & Osborn Efficiency Unit Avg Rent 0.00 Efficiency Units 0 Electric Aps Gas Other (See Remarks) Gross Annual Sch Inc 84600.00 Hoa YN No Net Operating Income 70969.00 New Financing Conventional Operating Exp 9401.00 Other Income 0.00 Other Type Other (See Remarks)Packaged Offering Owner Pays SewerTrash CollectionWater Project Type 13 - 24 Units5 - 12 UnitsFour Plex Sale Includes Land & Building Sewer Sewer - Public Source Of Financial Data Projected Proforma Tax Municipality Scottsdale Taxes 1101.00 Tenant Pays Cable TvElectric Totl Mnth Rntal Inc 7050.00 Vacancy Allowance 0.05 Water City Franchise Zoning R-5 Residential

    Listing courtesy of Grace Cre.


    © 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. The ARMLS logo indicates a property listed by a real estate brokerage other than Long Realty Company. Data last updated 2021-10-28T13:12:07.097.
     
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    Long Realty Company
    4051 E. Sunrise Dr, Suite 101
    Tucson AZ, 85718