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Scottsdale Shadows 3219 N 67th Pl

15 Unit Apartment Building $4,295,000 ($286,333/Unit) 5.65% Cap Rate Scottsdale, AZ 85251

Investment Highlights

  • Modern 15 Unit Single Story | Pride of Ownership
  • Large Floorplans with Large Private Patios and Yards = $1,692 Average Rents
  • City of Scottsdale Average Rents $493/month Higher than Phoenix MSA
  • 2023 Fully Renovated with over $750K in Quality Capital Improvements
  • City of Scottsdale Major Employers with High Paying Salaries = $104,743 Median Household Income
  • Minutes from Old Town Scottsdale | Scottsdale Arts District, SoDo, Waterfront, Scottsdale Fashion Square Mall

Executive Summary

**OM Link Below
The freshly new upgraded and renovated – Scottsdale Shadows - brings modern sophistication and contemporary design to one of the most sought-after single story communities in Old Town Scottsdale. Enhanced in 2023 with over $750K in quality capital improvements to the community, the unit interiors were fully upgraded with modern finishes that greatly enhanced the resident’s living experience. Interior improvements include modern white shaker cabinets, decorative glass tile backsplashes, modern quartz countertops, stainless-steel under mount sinks with modern retractable anodized bronze accordion faucets, new stainless-steel appliances including built-in microwaves and dishwashers. Additionally, new modern waterproof wood plank flooring throughout, 4” baseboards, modern doors/hardware/blinds, new modern lighting fixtures, remote control modern dual draft ceiling fans and in-unit washer and dryer were installed. In the bathrooms, the showers have modern 12” x 24” porcelain tile that compliments the new white shaker bathroom vanities with quartz countertops, new low-flow toilets and modern anodized bronze faucets and fixtures.

Significant exterior capital improvements were made in 2023 that transformed the courtyard and community. These improvements include a large grass courtyard, large gazebo with modern outdoor furniture with shaded seating areas, built-in stainless steel BBQ grill with granite countertop, beautiful lush green landscaping and native plants surround the private resident courtyard. Most of the units have their own large private patios or large private yards comprised of architectural block wall fences with private wrought iron gates and artificial grass. Freshly painted exteriors bring sophistication and a stylish touch. Lastly, a one of a multi-colored mural of native prickly pear cacti was painted on the block walls within the courtyard by a local renowned muralist providing tremendous ambiance and relaxation for the residents.

Scottsdale’s Art District, SoDo, Old Town Avenue Shops, Waterfront, and Scottsdale Fashion Square Mall are all located just minutes from Scottsdale Shadows. Scottsdale’s Art District offers art fans the ability to peruse the galleries of Main Street and visit the Scottsdale Museum of Contemporary Art and Western Spirit: Scottsdale’s Museum of the West. Scottsdale Shadows is within walking distance to nearly every cuisine possible. Scottsdale is home to world-famous restaurants such as Mastro’s City Hall Steakhouse, Yardhouse, Cowboy Ciao, The Oasis at The Phoenician, Taggia, and II Terrazzo. Scottsdale has resort dining, dive bars with finger foods, steak houses, American, BBQ, Italian, Asian, and of course, Mexican dining. Many of these restaurants are located in Old Town Scottsdale, next to Scottsdale Fashion Square Mall and 5th Avenue shops. If you are looking for a more relaxed place to eat, Scottsdale has more causal eateries such as Cien Agaves Tacos & Tequila, Salty Senorita, Culinary Dropout, and the Sugar Bowl Ice Cream Parlor & Restaurant. Many of the restaurants in Old Town are on the trolley line. The trolley makes it easy to dine out with friends and family without the hassle of parking.

Property Facts

Price $4,295,000
Price Per Unit $286,333
Sale Type Investment
Cap Rate 5.65%
No. Units 15
Property Type Multifamily
Property Subtype Apartment
Apartment Style Garden
Building Class C
Lot Size 0.60 AC
Building Size 11,600 SF
Average Occupancy 100%
No. Stories 1
Year Built 1958
Parking Ratio 1.29/1,000 SF

Unit Amenities

  • Air Conditioning
  • Cable Ready
  • Dishwasher
  • Disposal
  • Washer/Dryer
  • Washer/Dryer Hookup
  • Refrigerator
  • Stainless Steel Appliances
  • Tub/Shower
  • Grill
  • Patio
  • Vinyl Flooring
  • Quartz Countertops

Site Amenities

  • 24 Hour Access
  • Laundry Facilities
  • Picnic Area
  • Grill
  • Walk-Up

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
1+1 13 $1,610 750 - 850
2+1 2 $1,895 850
Bike Score ®
Very Bikeable (88)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
130-47-120D
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$66,097

zoning

Zoning Code R-5, Scottsdale ([R-5] Multiple-Family Residential)
R-5, Scottsdale ([R-5] Multiple-Family Residential)
  • Listing ID: 32882561

  • Date on Market: 8/19/2024

  • Last Updated:

  • Address: 3219 N 67th Pl, Scottsdale, AZ 85251

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