6950 Earll Dr Scottsdale, AZ 85251
- Commercial real estate
Current Use by Public Records
- Commercial real estate
Property Details for 6950 Earll Dr
- Year built
- 1960
- Property type
- Commercial real estate
Description
This exceptional 4-unit apartment building presents a compelling value-add investment opportunity in the highly desirable Old Town Scottsdale area (85251). Located at 6950 E Earll Dr, this Class B property, built in 1960, boasts a total net rentable area of 2,675 square feet, with a unit mix of one one-bedroom/one-bathroom unit and three two-bedroom/one-bathroom units. The one-bedroom unit is approximately 500 square feet, while the two-bedroom units average approximately 725 square feet each. Currently, one unit operates as a short-term rental, while the remaining three are on month-to-month leases. The property offers a strong pro-forma NOI of $62,210, resulting in a 5.06% cap rate. The asking price is $1,230,000, translating to $460 per square foot and $307,500 per unit. Its prime location provides easy access to Scottsdale Fashion Square, The Waterfront, and numerous dining establishments, ensuring high occupancy and rental demand. This property is ideal for investors seeking a strong return in a vibrant and growing market. The diverse unit mix caters to a broad range of renters, from young professionals to small families, further enhancing its investment potential. Seller financing is available.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Scottsdale
- County
- Maricopa
- State
- Arizona
- Longitude
- -111.930681
- Latitude
- 33.484659
