$1,150,000 6631 E Cheery Lynn Road Scottsdale, AZ

MLS: 6302801   Type:   County: Maricopa   City: Scottsdale   Neighborhood: Holiday Park 2   Zip: 85251     Taxes: $1,101

Mortgage $5,399 /mo



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Welcome to Four on Cherry Lynn. This four plex is in the heart of Old Town Scottsdale in nice Cul-del-sac lot! This property is an amazing opportunity to do a full remodel! Property has been self managed with month to month tenants. Currently below market rents 500-600. Market rate once renovated 1500-1900. One 1 bedroom 1 bath and Three 2 bedroom 1 bath units. Once remodel proforma cap 5.5-6 cap. Could also make into a Air B&B for even a higher return. All facts and figures are approximate buyer verify MLS information. Drive by only tenants are unaware of sale. Also available as part of a portfolio sale with same owners and unit mix and rent are 6616 E Avalon, 6622 E Avalon, and 6628 E Avalon also available for $1,150,000 each.

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Price History

10/5/2021 Listed $1,150,000

1 Bedroom Units: Avg Rent 0.00
2 Bedroom Units: Avg Rent 0.00
3 Bedrooms Units: Avg Rent 0.00
3 Bedrooms Units: Avg Sqft 0
4 Bedrooms Units: Avg Rent 0.00
4 Bedrooms Units: Avg Sqft 0
Construction Block
Cooling Other, See Remarks
Electric APS
Features No Pool
Gas Y/N Other (See Remarks)
Heating Other, See Remarks
Map Code/Grid P37
Net Income 70969.00
New Financing Conventional
Owner Pays Sewer, Trash Collection, Water
Parking Street Parking
Property Type F
Public Remarks
Roof Built-Up
School District 048 - Scottsdale Unified District
Sewer Sewer - Public
Status Active
Subdivision HOLIDAY PARK 2
Tenant Pays Cable TV, Electric
Water City Franchise
Year Built 1958
Zoning R-5 Residential

Interior Features

1 Bedroom Units: # 1 Bedroom Units 1
1 Bedroom Units: # Baths 1
1 Bedroom Units: Avg Sqft 545
2 Bedroom Units: # 2 Bedroom Units 3
2 Bedroom Units: # Baths 1
2 Bedroom Units: Avg Sqft 800
3 Bedrooms Units: # 3 Bedroom Units 0
3 Bedrooms Units: # Baths 0
4 Bedrooms Units: # 4 Bedroom Units 0
4 Bedrooms Units: # Baths 0
Appliances Included BI Oven/Range
Floors Ceramic Tile
Total Number of Units 4.00

Exterior Features

Const - Finish Painted
Covered Parking Spcs 0.00
Lot Size Dimensions 8281 SF
Total Parking Spcs 4.00

Property Schools

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Gallery (16 photos)

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Property vs Zip Code Avg (85251)

Price 1.15M Avg 962K

Sqr Feet 2,945 Avg 1,836

Cost / Sqr Ft $390 Avg $524

Taxes $1,101 Avg $1,850

Visits 154 Avg 62

Days on Site 114 Avg 48

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Listing Provided Courtesy Of: Grace CRE

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Location & Address

Quantum of Arizonas, REALTORS
34406 N 27th Drive #140
Phoenix, AZ