6950 Earll DrScottsdale, AZ 85251

Property Details for 6950 Earll Dr

Year built

1960

Property type

Apartment buildings

Description

This exceptional 4-unit apartment building presents a compelling value-add investment opportunity in the highly desirable Old Town Scottsdale area (85251). Located at 6950 E Earll Dr, this Class B property, built in 1960, boasts a total net rentable area of 2,675 square feet, with a unit mix of one one-bedroom/one-bathroom unit and three two-bedroom/one-bathroom units. The one-bedroom unit is approximately 500 square feet, while the two-bedroom units average approximately 725 square feet each. Currently, one unit operates as a short-term rental, while the remaining three are on month-to-month leases. The property offers a strong pro-forma NOI of $62,210, resulting in a 5.06% cap rate. The asking price is $1,230,000, translating to $460 per square foot and $307,500 per unit. Its prime location provides easy access to Scottsdale Fashion Square, The Waterfront, and numerous dining establishments, ensuring high occupancy and rental demand. This property is ideal for investors seeking a strong return in a vibrant and growing market. The diverse unit mix caters to a broad range of renters, from young professionals to small families, further enhancing its investment potential. Seller financing is available.

Location Insight

City

Scottsdale

County

Maricopa

State

Arizona

Latitude

33.4847

Longitude

-111.931

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