$2,100,000
$2,200,000
4.5%For more information regarding the value of a property, please contact us for a free consultation.
SOLD DATE : 12/31/2020
Key Details
Sold Price $2,100,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Holiday Park
MLS Listing ID 6161872
Sold Date 12/31/20
Originating Board Arizona Regional Multiple Listing Service (ARMLS)
Year Built 1958
Annual Tax Amount $2,369
Tax Year 2020
Lot Dimensions 110 x 160
Property Description
Venture on 66th is a completely renovated 8-unit property.
Constructed in 1958 and renovated in 2019-2020, this investment
property is currently operating as a short-term/vacation rental and
comes fully furnished, with future bookings in place. Featuring all
two-bedroom/one-bathroom units, the property offers its residents a
beautiful, updated, and spacious vacation home no matter how short
or long their stay. Some tenants stay for a few days, while others for
months. Given its prime location, the property garners a lot of interest.
In addition to the short-term/vacation rental model, which offers
an owner a higher potential return, Venture on 66th could easily be
converted to and operated as a market-rate apartment community.
Information for this kind of operation has also been Located
in the heart of Old Town Scottsdale and situated on 2 separate
parcels, allowing for 30-year fixed-rate residential financing on
each parcel, Venture on 66th offers tenants quick access to all the
remarkable dining and entertainment options that Old Town Scottsdale
has to offer. Nearby attractions include Spring Training facilities,
Scottsdale Fashion Square, SkySong, Papago Plaza, the McDowell
Corridor (a $500M economic redevelopment), many boutique shops,
bars, restaurants, and entertainment options in and around the Old
Town Scottsdale area. Located southwest of Osborn and 68th Street,
this area is undergoing a very rapid regentrification, with many
apartment communities being renovated. This area is going to continue
to improve and rental and pricing trends should continue to rise. Venture on 66th is one of the first fully renovated properties in this
immediate area to hit the market, indicating that prices and rents are
poised to go higher, so act fast. With interest rates at historic lows,
and 30-year fixed-rate residential financing available (one loan for
each parcel), Venture on 66th is a unique and exceptional opportunity
for investors looking for a turnkey product in a great location.
Location
State AZ
County Maricopa
Community Holiday Park
Zoning R-5
Direction West on Osborn, South on 66th Place to property on East (left) side.
Interior
Heating Individual, Other, See Remarks
Cooling Individual, Other, See Remarks
Flooring Other
Exterior
Community Features Other, See Remarks
Amenities Available Other
Waterfront No
Roof Type Composition, Other, See Remarks
Total Parking Spaces 8
Building
Sewer Public Sewer
Water City Franchise
Schools
School District Scottsdale Unified District
Others
Senior Community No
Tax ID 130-47-110
Financing Cash
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