$4,300,000
Scottsdale, AZ 85257
MLS# 6511097
Status: Closed
1 / 41
Property Description
Matera Villas Townhomes are eight town homes 2016 construction townhomes near old town Scottsdale. These are separately parceled condo mapped townhomes with no HOA. All all 3 bedroom 2.5 bathroom units with covered parking. Tile roofs , frame construction stucco units. Floor plans are four 1,317 sq feet units and four 1557 sq foot units. Current rents are below market $2,200 to $2,400. Market rents are $2,900-$3,500. Individual metered for electric and easy care landscaping. Close to ASU the 202 freeway and near the 101. All facts and figures are approximate buyer verify MLS information. Drive by only tenants are unaware of sale.
Details
Contract Info
Ownership: Fee Simple
Current Price: $4,300,000
Sold Price: $4,300,000
Status: Closed
List Date: 2023-01-23
Location, Tax & Legal
Building Number: 1 & 2
Assessor's Map #: 38
Legal Description (Abbrev): MATERA VILLAS CONDOMINIUM MCR 978-20 COMMON ELEMENTS
Assessor's Parcel #: 261
Add'l Parcels: Yes
Tax Municipality: Scottsdale
Census Tract: 218200
Taxes: 15692
Legal: MATERA VILLAS CONDOMINIUM MCR 978-20 COMMON ELEMENTS
Marketing Name: Eight on Belleview
Map Code/Grid: P36
House Number: 7323
Compass: E
Street Name: BELLEVIEW
St Suffix: Street
City/Town Code: Scottsdale
State/Province: AZ
Zip Code: 85257
County Code: Maricopa
Subdivision: MATERA VILLAS CONDOMINIUM
Assessor Number: 131-38-261
Tax Year: 2022
General Property Description
# of Buildings: 2
Uncvrd Parking Spcs: 0
Lot Size Dimensions: 13089
Total # of Units: 8
Elementary School District: Scottsdale Unified District
High School District: Scottsdale Unified District
Elementary School: Other
Jr. High School: Other
High School: Other
Year Built: 2016
Zoning: [R-5] Multiple-
Legal Info
Range: 4E
Section: 2
Township: 1N
Lot Number: 1001-08
Project Type
Four Plex: 1
5 - 12 Units: 1
Other Type
Packaged Offering: 1
Construction
Wood Frame: 1
Const - Finish
Painted: 1
Stucco: 1
Roofing
Tile: 1
Floors
Carpet: 1
Other: 1
Sale Includes
Land & Building: 1
Laundry Equipment: 1
Income & Expenses
Annual Elec Exp: 0
Annual Gas Exp: 0
Annual Ins Exp: 3000
Annual Land Lse Exp: 0
Annual Landscape Exp: 1200
Annual Legal & Acctg: 0
Annual Maint Exp: 4000
Annual Mgmt Exp: 13000
Annual Trash Exp: 1200
Annual Wtr/Swr Exp: 5000
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Operating Exp: 43092
Other Income: 0
Vacancy Allowance: 0.03
Adjusted Gross Inc: 279360
Total Monthly Rental Income: 24000
Pmt & Rate Info
Cap Rate: 5.56
Down Payment: 0
Equity: 4250000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0
Showing Notification Methods
Text: 1
Lockbox Type
None: 1
Community Features
No Pool: 1
Heating
Electric: 1
Cooling
Ceiling Fan(s): 1
Electric: 1
Exterior Amenities
Landscape Water System: 1
Desert Landscaping: 1
Sidewalk(s): 1
Patio/Balcony: 1
Interior Features
Fire/Smoke Alarm(s): 1
Fire Sprinklers: 1
Tenant Pays
Electricity: 1
Appliances Included
Dishwasher: 1
Disposal: 1
Microwave: 1
Refrigerator: 1
Free-Standing Range: 1
Washer/Dryer: 1
W/D Hookup: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Projected Proforma: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
Carport: 1
>1 Space Per Unit: 1
Paved: 1
Electric
SRP: 1
Gas
SW Gas: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
Landscaping: 1
New Financing
Conventional: 1
Owner May Carry: 1
Existing 1st Loan
Treat as Free&Clear: 1
Existing 1st Loan Type
Not Applicable: 1
Existing 1st Loan Terms
Not Applicable: 1
Existing 2nd Loan
Treat as Free&Clear: 1
Existing 2nd Loan Type
Not Applicable: 1
Existing 2nd Loan Terms
Not Applicable: 1
Existing 3rd Loan
Treat as Free&Clear: 1
Existing 3rd Loan Type
Not Applicable: 1
Reports/Disclosures
Seller Prop Disc Stm: 1
Existing 3rd Loan Terms
Not Applicable: 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
Avg Rent: 0
3 Bedrooms Units
# 3 Bedroom Units: 8
Avg Rent: 3000
Avg SqFt: 1437
# Baths: 2
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Carryback
Loan Years: 5
Closing Cost Split: Normal - N
Payment Type: Interest Only
Buyer Concession to Seller: 0
Buyer Concession $/%: %
Seller Concession to Buyer: 0
Seller Concession $/%: %
Remarks Misc
Cross Street: McDowell and Scottsdale RD
Directions: McDowell and Scottsdale RD Directions: East to 74th st turn South to 1st St behind SkySong, Belleview, Turn right(West) to Property on the right.
Geo Lat: 33.461219
Geo Lon: -111.922842
Status Change Info
Off Market Date: 2023-04-10
Under Contract Date: 2023-03-29
Close of Escrow Date: 2023-04-10
Sold Price: $4,300,000
Income Expenses
Gross Annual Sch Inc: 288000
Net Operating Income: 236268
Property Features
Project Type: Four Plex; 5 - 12 Units
Other Type: Packaged Offering
Construction: Wood Frame
Const - Finish: Painted; Stucco
Roofing: Tile
Floors: Carpet; Other
Sale Includes: Land & Building; Laundry Equipment
Community Features: No Pool
Exterior Amenities: Landscape Water System; Desert Landscaping; Sidewalk(s); Patio/Balcony
Interior Features: Fire/Smoke Alarm(s); Fire Sprinklers
Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Disposal; Microwave; Washer/Dryer; W/D Hookup
Cooling: Ceiling Fan(s); Electric
Water Source: City Franchise
Sewer: Sewer - Public
Electric: SRP
Gas: SW Gas
Parking Features: Carport; >1 Space Per Unit; Paved
Road Surface Type: Asphalt
Owner Pays: Water; Trash Collection; Landscaping
Tenant Pays: Electricity
Source of Fincl Data: Owner; Projected Proforma
Showing Notification Methods: Text
Lockbox Type: None
Existing 1st Loan: Treat as Free&Clear
Existing 1st Loan Type: Not Applicable
Existing 1st Loan Terms: Not Applicable
Existing 2nd Loan: Treat as Free&Clear
Existing 2nd Loan Type: Not Applicable
Existing 2nd Loan Terms: Not Applicable
Existing 3rd Loan: Treat as Free&Clear
Existing 3rd Loan Type: Not Applicable
Existing 3rd Loan Terms: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: Conventional; Owner May Carry
Environmental: None
Listing Office: Grace CRE
Last Updated: April - 28 - 2025
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