7832 Heatherbrae AveScottsdale, AZ 85251

Property Details for 7832 Heatherbrae Ave

Year built

1959

Property size (Sq ft)

2,858 SF

Property type

Apartment buildings

Description

This meticulously renovated 1959 triplex, located at 7832 E Heatherbrae Ave, Scottsdale, AZ 85251, presents a compelling investment opportunity. Boasting three units totaling 2,858 square feet, this Class B property offers a current NOI of $61,419 and a pro-forma NOI of $97,300, translating to a 4.65% cap rate and a pro-forma cap rate of 7.37%. The asking price is $1,320,000, or $440,000 per unit. Each unit features a thoughtful layout, spacious design, and modern updates completed in 2020 and 2021, including shaker-style cabinets, engineered stone countertops, and stainless steel appliances. The property benefits from a desirable Scottsdale location, close to Old Town, the Arts District, Fashion Square, and numerous parks and outdoor amenities. Currently operating as a short-term vacation rental, the property enjoys 100% occupancy until December, with month-to-month leases thereafter. Tenants are responsible for utilities and repairs under $300. The property sits on a 1-story building with a permitted zoning of M-H-R-5 and features a secluded yard for each unit. While on-site parking is not currently available, ample street parking is readily accessible. This turnkey investment is ideal for those seeking a low-maintenance, high-return property in a thriving Scottsdale market. The property is offered fee simple. The Maricopa County APN is 173-56-007.

Location Insight

City

Scottsdale

County

Maricopa

State

Arizona

Latitude

33.4978

Longitude

-111.912

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