The Property
Ethos on Polk is a remodeled property consisting of six units located near Old Town Scottsdale. The property has four two-bedroom, one-bathroom units and two one-bedroom, one-bathroom units. Each unit comes with a private patio and a storage room, as well as a new stackable washer and dryer.
The property is under a NN (triple net) lease from a short-term rental company, which means that the tenant is responsible for all expenses related to the property, except for insurance and property taxes. The lease is for two years, with a rental increase in the second year.
The property is fully occupied, with a monthly rental income of $11,000 and an annual income of $132,000. The current yearly expenses for the property are $5,417.
Ethos on Polk has been completely remodeled with modern touches, including tile backsplashes, dual-pane windows, and a smooth stucco finish. The property is highly regarded by neighbors and considered the “new building on the block.”
It’s important to note that the buyer should verify all facts and figures related to the property, including the lease agreement and rental income. Ethos on Polk is located at 7602 E Polk St in Scottsdale, Arizona. The property falls under the R-5 zoning, which allows for multi-family residential use. The property size is 4,140 square feet, and the land size is 11,021 square feet.
The property is located in the postal/zip code area 85257. There is one building on the property, which contains the six remodeled units described earlier. The parcel number for the property is 131-15-001-Y.
Welcome investors! If you‘re looking for an immersive and exciting way to explore a potential investment opportunity, then look no further than our virtual tour. Our virtual tour offers an interactive and engaging experience that will give you a realistic feel for what you can expect from the investment. You’ll be able to explore the property from the comfort of your own computer, without the need for travel or on-site visits. By clicking on the link to our virtual tour, you‘ll be taken on a guided tour of the investment property, complete with 360-degree panoramic views and high-resolution images. You can take your time and explore the property at your own pace, zooming in on key details and features that interest you. Our virtual tour is an excellent way to get a comprehensive overview of the investment opportunity, and to make an informed decision about whether it’s right for you. So why wait? Click on the link for our virtual tour today and start exploring the investment opportunity of a lifetime!
Location
This property is located on the southeast part of Old Town Scottsdale.
Old Town Scottsdale is a charming and historic district located in the heart of Scottsdale, Arizona. This area is known for its vibrant culture, unique shopping experiences, and stunning architecture. One of the highlights of Old Town Scottsdale is the famous art walks that take place every Thursday evening. During these art walks, visitors can peruse a wide variety of art galleries and studios while enjoying live music and street performances. It is a great way to experience the local art scene and connect with the community.
Apart from the art walks, Old Town Scottsdale also offers a diverse employment base. The area is home to many small businesses, restaurants, and art galleries, providing a variety of job opportunities. Many of these businesses are locally owned and operated, creating a strong sense of community and supporting the local economy. With its charming streets and bustling atmosphere, Old Town Scottsdale is a popular destination for tourists, making it a hub for the hospitality and tourism industries.
In addition to its employment base, Old Town Scottsdale is known for its distinctive architecture. The area boasts a mix of historic buildings, modern structures, and unique art installations. This blend of old and new creates a unique visual landscape that is both charming and exciting. Visitors can take a stroll down the streets of Old Town and admire the architecture, or stop by one of the many art galleries to view the work of local artists.
Old Town Scottsdale is also home to a variety of annual events and festivals. These events draw visitors from around the world and showcase the rich culture and history of the area. From the Scottsdale Arabian Horse Show to the Scottsdale Arts Festival, there is always something exciting happening in Old Town. These events provide a unique opportunity for visitors to experience the vibrant culture of the area and connect with the community.
Overall, Old Town Scottsdale is a vibrant and exciting district that offers a unique blend of art, culture, and employment opportunities. With its charming streets, diverse architecture, and lively atmosphere, it is no wonder that this area has become a popular destination for tourists and locals alike. Whether you are looking for a fun night out, a new job opportunity, or simply a chance to experience the rich culture of the area, Old Town Scottsdale has something for everyone.
$2,495,000
Sale Price
$132,000
Effective Rental Income
$5,417
Operating Expenses
$126,583
Net Operating Income
5.07%
Cap Rate
Offering Memorandum
To access the Offering Memorandum or the one page Flyer, simply click on the button located below. From there, you’ll be able to download the document in PDF format.
Our Offering Memorandum is an essential resource for anyone who is considering investing in our opportunity. It includes all the necessary information, such as the investment terms, potential risks, financial projections, and more. By reviewing this document, you’ll have a complete understanding of what the investment entails.
If you have any questions or would like to learn more about our investment opportunity, please don’t hesitate to reach out to us. We’re always happy to answer any questions and provide you with the information you need to make an informed decision.
Thank you for considering our investment opportunity, and we hope to hear from you soon!
We‘d like to invite you to check out the additional photos we have uploaded to our website for our property. These photos offer a more detailed view of the property from various angles and perspectives, giving you a better understanding of its layout and features. Take a few moments to browse through these photos to see for yourself what our property has to offer. We believe that they will provide you with a better insight into our property. Thank you for considering our property, and please don’t hesitate to contact us if you have any questions.
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