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7702 E Thomas Road

Scottsdale, AZ 85251
  • $21,300,000
  • STATUS: Active
  • ON SITE: 11 Days
  • MLS #: 6508073
UPDATED: 56 min ago
$21,300,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1956
County:
Area:

School Information

Elementary School:
Middle School:
High School:

Description

We are pleased to present for sale a hand-curated residential real estate portfolio consisting of 26 newly-remodeled single family homes that are currently operating as short and long term rental properties in vibrant Phoenix Arizona. With over $3.6M in renovation and remodeling costs, this portfolio has an average dwelling size of 1,925 Sq Ft with all homes fully furnished and supplied. All of the homes were remodeled in 2022 and upon acquisition, the seller deployed the necessary capital to improve the homes, including kitchen and bath remodels, landscaping, pools (where applicable), new roofs, and other improvements as needed. Geographically, 14 homes are located within the City of Tempe, 3 are in Scottsdale, 7 are in the East Valley and 2 are in Glendale.This is a unique offering to purchase a stable portfolio of homes in the exceedingly strong and sought-after Greater Phoenix housing market and its most desired neighborhoods like Scottsdale, Tempe, Glendale and the East Valley, each property boasts close proximity to the most popular points of interest within each geographical location; This offering has immediate cash flow and revenue growth built in. With over 40% of households in Metropolitan Phoenix being renter-occupied, making this a perfect opportunity for short or long term rental models. The in place operations offer continued stability and favorable operational costs. In recent years, Phoenix and its core neighborhoods have benefited from transformational investment that has dramatically increased the residential population and generated a rich array of restaurants, retail, events and entertainment venues. The surrounding neighborhoods also offer an abundance of history dating back to the development of Metro Phoenix and feature historic landmarks, plentiful hiking trails, architecturally notable buildings, lush resorts and world renowned golf courses. This is a bulk sale the following parcel's are included - 133-24-020, 129-15-167, 301-47-308, 133-36-059, 132-11-010, 124-60-070, 124-77-077, 124-76-015, 123-47-021, 133-38-155, 133-39-273, 133-36-533, 124-74-123, 175-70-052, 167-08-062, 129-19-014 , 303-30-199, 304-88-551, 509-02-675, 509-94-657, 304-68-470, 314-02-485, 314-02-544, 148-19-231, 231-07-668

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Arizona Regional MLS logo© 2023 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 Elite Home Advisors | Keller Williams Realty Phoenix. Data last updated 2023-01-28T17:21:58.503.
www.yournextphoenixhome.com/homes/136098863
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7702 E Thomas Road Scottsdale, AZ 85251

  • Price: $21,300,000
  • Status: Active
  • On Site: 11 Days
  • Updated: 56 min ago
  • MLS #: 6508073
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1956
Built
Neighborhood:
Cavalier Vista 1
County:
Maricopa
Area:
Scottsdale
Elementary School:
Pima Elementary School
Middle School:
Mohave Middle School
High School:
Coronado High School
Property Description
We are pleased to present for sale a hand-curated residential real estate portfolio consisting of 26 newly-remodeled single family homes that are currently operating as short and long term rental properties in vibrant Phoenix Arizona. With over $3.6M in renovation and remodeling costs, this portfolio has an average dwelling size of 1,925 Sq Ft with all homes fully furnished and supplied. All of the homes were remodeled in 2022 and upon acquisition, the seller deployed the necessary capital to improve the homes, including kitchen and bath remodels, landscaping, pools (where applicable), new roofs, and other improvements as needed. Geographically, 14 homes are located within the City of Tempe, 3 are in Scottsdale, 7 are in the East Valley and 2 are in Glendale.This is a unique offering to purchase a stable portfolio of homes in the exceedingly strong and sought-after Greater Phoenix housing market and its most desired neighborhoods like Scottsdale, Tempe, Glendale and the East Valley, each property boasts close proximity to the most popular points of interest within each geographical location; This offering has immediate cash flow and revenue growth built in. With over 40% of households in Metropolitan Phoenix being renter-occupied, making this a perfect opportunity for short or long term rental models. The in place operations offer continued stability and favorable operational costs. In recent years, Phoenix and its core neighborhoods have benefited from transformational investment that has dramatically increased the residential population and generated a rich array of restaurants, retail, events and entertainment venues. The surrounding neighborhoods also offer an abundance of history dating back to the development of Metro Phoenix and feature historic landmarks, plentiful hiking trails, architecturally notable buildings, lush resorts and world renowned golf courses. This is a bulk sale the following parcel's are included - 133-24-020, 129-15-167, 301-47-308, 133-36-059, 132-11-010, 124-60-070, 124-77-077, 124-76-015, 123-47-021, 133-38-155, 133-39-273, 133-36-533, 124-74-123, 175-70-052, 167-08-062, 129-19-014 , 303-30-199, 304-88-551, 509-02-675, 509-94-657, 304-68-470, 314-02-485, 314-02-544, 148-19-231, 231-07-668
Exterior Features

Construction BlockFrame - WoodOther (See Remarks) Construction Finish Other (See Remarks)PaintedStucco Covered Parking Spaces 26.00 Exterior Amenities Cable Tv AvailableDesert LandscapingGreen LandscapingOther (See Remarks) Lot Size Dimensions 6517 Parking CarportGarageOther (See Remarks)Street Parking Roads AsphaltPrivate Street Roofing Comp ShingleOther (See Remarks)Tile

Interior Features

1 Bedroom Unit Avg Sq Ft 0 1 Bedroom Unit Baths 0 2 Bedroom Unit Avg Sq Ft 0 2 Bedroom Units Baths 0 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/RangeDishwasherDisposalF/S Oven/RangeMicrowaveOther (See Remarks)RefrigeratorWasher/Dryer Cooling 2 Or More UnitsSee Remarks Efficiency Unit Avg Sq Ft 0 Efficiency Unit Baths 0 Floors CarpetOtherVinylWood Heating ElectricSee Remarks Interior Amenities Furnished

Property Features

1 Bedroom Unit Avg Rent 0.00 1 Bedroom Units 0 2 Bedroom Unit Avg Rent 0.00 2 Bedroom Units 0 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 1414860.00 Annual Other Expense 220000.00 Annual Ownr Asoc Fee 0.00 Community Amenities BarbecueGolf/Putting GreenNo PoolOtherPoolSport Court Efficiency Unit Avg Rent 0.00 Efficiency Units 0 Electric ApsOther (See Remarks) Gas Other (See Remarks)Sw Gas Gross Annual Sch Inc 1414860.00 Hoa YN No Net Operating Income 1250000.00 New Financing 1031 ExchangeConventionalOther (See Remarks) Operating Exp 221152.00 Other Income 0.00 Other Type House + Rental UnitsOther (See Remarks)Packaged Offering Owner Pays See Remarks Project Type 25 - 50 UnitsOther (See Remarks) Sale Includes Land & BuildingLaundry EquipmentOther (See Remarks)Personal PropertyPool Equipment Sewer Sewer - Public Source Of Financial Data Projected ProformaProvided By Owner Tax Municipality Scottsdale Taxes 1152.00 Tenant Pays None Vacancy Allowance 0.00 Water City Franchise Zoning Residential

Arizona Regional MLS logo Listing provided by North & Co: 480-843-5101 .


Arizona Regional MLS logo© 2023 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 Elite Home Advisors | Keller Williams Realty Phoenix. Data last updated 2023-01-28T17:21:58.503.
 
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