6847 E 4TH Street, Scottsdale, AZ 85251 (MLS# 6129168)

6847 E 4TH Street, Scottsdale, AZ 85251

$3,600,000

Property Type: Multiple Dwellings Status: Closed

Current Price: $3,600,000 Last Modified: 3/01/2025

Overview

Description

The Capri is a 13-unit, condo-mapped, garden-style apartment community located in Scottsdale, Arizona. Constructed in 1959 with reinforced concrete block, the Capri enjoys all the charm and flair of mid-century modern architecture. The units have undergone modern renovations which include white shaker cabinets, solid surface countertops, stainless-steel appliances, and wood plank vinyl flooring. There are (8) one-bedroom / one-bathroom units, (1) two-bedroom / one-bathroom unit, and (4) two-bedroom / two-bathroom units, all individually metered for electricity. Each unit enjoys walk-out balconies and patios overlooking the community swimming pool and views of Camelback Mountain.

Supplements: Tenant amenities also include a community putting green, patio with BBQ, and covered parking. Capri is in excellent condition with newer air conditioners, roofs, asphalt, water heaters, water lines, and dual pane windows. Located on a quiet cul-de-sac and walking distance from Old Town Scottsdale, Capri offers a perfect location for both short-term ... (Read more)

Listing Details MLS# 6129168

Location, Tax & Legal

Map Code/Grid: P37
House Number: 6847
Compass: E
Street Name: 4TH
St Suffix: Street
City/Town Code: Scottsdale
State/Province: AZ
Zip Code: 85251
Zip4: 5500
County Code: Maricopa
Subdivision: CAPRI CONDOMINIUM
Assessor Number: 130-10-382
Tax Year: 2019
Assessor's Map #: 10
Legal Description (Abbrev): LOT 1 CAPRI CONDOMINIUM MCR 061716
Assessor's Parcel #: 382
Add'l Parcels: Yes
Tax Municipality: Scottsdale
Census Tract: 217502
Taxes: 7264
Legal: See title report
Marketing Name: Capri

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: unknown
Year Built: 1959
Uncvrd Parking Spcs: 3
Total # of Units: 13
# of Buildings: 2
Zoning: R-5
Elementary School District: Scottsdale Unified District
High School District: Scottsdale Unified District

Remarks Misc

Cross Street: Scottsdale Rd. & Indian School Rd.
Directions: West to Goldwater Blvd. South to 70th Street. South to 4th Street. West to Property.

Status Change Info

Off Market Date: 2020-09-17
Under Contract Date: 2020-09-16
Close of Escrow Date: 2020-12-31

Legal Info

Township: 2N
Range: 4E
Section: 27
Lot Number: Yes

More Information

Income Expenses

Gross Annual Sch Inc: 237600
Net Operating Income: 187345

1 Bedroom Units

# 1 Bedroom Units: 8
Avg Rent: 1400
Avg SqFt: 687
# Baths: Yes

2 Bedroom Units

# 2 Bedroom Units: 5
Avg Rent: 1720
Avg SqFt: 1000
# Baths: 2

Sold Info

Loan Type: Cash to Loan
Loan Years: 30
Payment Type: Fixed
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Buyer Concession to Seller: 0
Seller Concession to Buyer: 0

Project Type

13 - 24 Units: Yes

Construction

Block: Yes

Const - Finish

Painted: Yes
Stucco: Yes

Roofing

Other: Yes

Floors

Concrete: Yes

Sale Includes

Other (See Remarks): Yes

Income & Expenses

Annual Elec Exp: 1800
Annual Gas Exp: 0
Annual Ins Exp: 2600
Annual Land Lse Exp: 0
Annual Landscape Exp: 1500
Annual Legal & Acctg: 0
Annual Maint Exp: 4550
Annual Mgmt Exp: 11611
Annual Trash Exp: 1
Annual Wtr/Swr Exp: 7300
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 2600
Annual Other Expense: 4225
Operating Exp: 43451
Other Income: 6500
Vacancy Allowance: 5
Adjusted Gross Inc: 976400

Pmt & Rate Info

Cap Rate: 5
Equity: 3750000
Down Payment %: 30
Monthly Payments: 15649
Total Owed: 0

Showing Notification Methods

Email: Yes

Lockbox Type

None: Yes

Community Features

Pool: Yes
Golf: Yes
Barbecue: Yes
Other: Yes
See Remarks: Yes

Heating

Electric: Yes
Individual: Yes

Cooling

Electric: Yes
Individual: Yes

Exterior Amenities

Landscape Water System: Yes
Desert Landscaping: Yes
Fenced: Yes
Cable TV Available: Yes
Patio/Balcony: Yes
Separate Storage: Yes
Security Light(s): Yes

Tenant Pays

Electricity: Yes
Cable TV: Yes

Appliances Included

Dishwasher: Yes
Disposal: Yes
Microwave: Yes
Refrigerator: Yes
Free-Standing Range: Yes
Other: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Owner: Yes

Water Source

City Franchise: Yes

Sewer

Sewer - Public: Yes

Parking Features

Carport: Yes

Electric

Other (See Remarks): Yes

Gas

Other (See Remarks): Yes

Owner Pays

Water: Yes
Sewer: Yes
Trash Collection: Yes
Landscaping: Yes
Pool Maintenance: Yes
Other: Yes

New Financing

Conventional: Yes
1031 Exchange: Yes
Other (See Remarks): Yes

Reports/Disclosures

Other (See Remarks): Yes

Environmental

Other (See Remarks): Yes

Efficiency Units

Avg Rent: 0

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Property Features

Project Type: 13 - 24 Units Construction: Block Const - Finish: Painted; Stucco Roofing: Other Floors: Concrete Sale Includes: Other (See Remarks) Community Features: Pool; Golf; Barbecue; Other; See Remarks Exterior Amenities: Landscape Water System; Desert Landscaping; Fenced; Cable TV Available; Patio/Balcony; Separate Storage; Security Light(s) Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Disposal; Microwave; Other Heating: Individual Cooling: Electric; Individual Water Source: City Franchise Sewer: Sewer - Public Electric: Other (See Remarks) Gas: Other (See Remarks) Parking Features: Carport Road Surface Type: Asphalt Owner Pays: Water; Trash Collection; Landscaping; Pool Maintenance; Other Tenant Pays: Electricity; Cable TV Source of Fincl Data: Owner Showing Notification Methods: Email Lockbox Type: None New Financing: Conventional; 1031 Exchange; Other (See Remarks) Environmental: Other (See Remarks)

Listing Office: ABI Multifamily

Last Updated: March - 01 - 2025