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 (double 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 three years, with a rental increase in the second and third 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.