Project Type: 13 - 24 Units

Construction: Block

Const - Finish: Painted; Stucco

Roofing: Built-Up; Foam

Floors: Ceramic Tile; Carpet

Sale Includes: Land & Building

Community Features: Pool; Barbecue

Exterior Amenities: Green Landscaping; Security Light(s)

Interior Features: Vertical Blinds

Appliances Included: Free-Standing Range; Refrigerator; Microwave; Washer/Dryer

Heating: Individual

Cooling: Individual

Water Source: City Franchise; Individual Meter

Sewer: Sewer - Public

Electric: Individual Meter

Gas: None

Parking Features: Carport

Road Surface Type: Asphalt

Owner Pays: Water

Tenant Pays: Electricity

Source of Fincl Data: Owner

Existing 1st Loan: Conventional

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

Environmental: None

Fountain Villas has a desirable unit mix consisting of studios, two and three-bedroom floor plans that average approximately 866 square feet and are extremely spacious and well designed. Many of the units have been renovated with washers and dryers, black appliances, porcelain tile flooring, granite countertops, dual pane windows, brushed nickel fixtures and hardware, and new vanities and sinks. Additional unit amenities include built-in microwaves, dishwasher, garbage disposals, walk-in closets and private back yards. Situated on approximately half an acre, Fountain Villas has attractive, professionally designed landscaping with mature shade trees and lush turf. Community amenities include a large sparkling swimming pool with a shade screen, a picnic area, courtyard fountains, stacked stone accents, upgraded lighting and covered parking. Fountain Villas offers an investor the rare opportunity to acquire a highly desirable townhome community located in an exceptional south Scottsdale location. Over the last year, the average submarket rent has increased by 10%, significantly greater than the metropolitan Phoenix average. Additionally, the South Scottsdale submarket has one of the lowest vacancy rates with an average submarket vacancy of 4.75%. With the strong submarket fundamentals coupled with the Phoenix market's continual improvement and recovery, Fountain Villas is well positioned to achieve continual revenue increase.