NOT LISTED FOR SALE

6701 E Cheery Lynn Rd Scottsdale, AZ 85251

South Scottsdale Neighborhood

Estimated Value: $1,429,000 - $1,942,000

1 Bed
8 Baths
1,000 Sq Ft
$1,693/Sq Ft Est. Value

Last Sold August 25, 2017

Last sale price $800,000 $800 Per Sq Ft

Est. 112% increase in value since last sale

Current estimated payment $9,243/month

14 Days on Market

Highlights

  • Cooling Available
  • Tavan Elementary School Rated A
  • Heating System Uses Natural Gas

About This Home

As of August 2017

VALUE-ADD OPPORTUNITY IN THE HEART OF SCOTTSDALE!!! 8 units on a HUGE parcel in heart of Scottsdale! SIX 2-bed and TWO 1-bed units, all very easy to rent! Rents haven't been raised - tons of room to bump rent! DO NOT disturb tenants. AS-IS - Buyer to confirm all facts and figures

Last Agent to Sell the Property

Eric Dixon

On Q Property Management License #BR627731000 Listed on: 07/13/2017

Last Buyer's Agent

Eric Dixon

On Q Property Management License #BR627731000 Listed on: 07/13/2017

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,803

Year Built

  • Built in 1958

Lot Details

  • 0.39

Home Design

  • Composition Roof
  • Block Exterior

Schools

  • Tavan Elementary School
  • Ingleside Middle School
  • Arcadia High School

Utilities

  • Cooling Available
  • Heating System Uses Natural Gas

Listing and Financial Details

  • Tenant pays for landscaping
  • The owner pays for trash collection, water, sewer
  • Tax Lot 30
  • Assessor Parcel Number 130-47-074-B

Community Details

Overview

  • 2 Buildings
  • 8 Units
  • Building Dimensions are 108' x 158'
  • Holiday Park 2 Subdivision

Building Details

  • Operating Expense $12,103
  • Gross Income $63,050

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,803

Year Built

Built in 1958

Lot Details

0

Listing Details

  • Cross Street: 66th St & Osborne Rd
  • Legal Info Range: 4E
  • Property Type: Multiple Dwellings
  • Zoning: R5
  • Number Of Buildings: 2
  • Year Built: 1958
  • Tax Year: 2016
  • Directions: South on 68th, West on Cheery Lynn, property on left
  • Road Surface Type: Gravel, Dirt
  • Subdivision Name: HOLIDAY PARK 2
  • Tax Parcel Letter: B
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Other
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Refrigerator: Yes

Exterior Features

  • Construction Type: Painted, Block
  • Roof: See Remarks, Composition
  • Construction:Block: Yes

Garage/Parking

  • Parking:_greater_1 Space Per Unit: Yes

Utilities

  • Electric: APS
  • Cooling: Electric
  • Heating: Natural Gas
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:Natural Gas: Yes

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Community Amenities:No Pool: Yes

Fee Information

  • Annual Fuel Expense: 400.0
  • Trash Expense: 4800.0

Schools

  • Elementary School: Tavan Elementary School
  • High School: Arcadia High School
  • Middle Or Junior School: Ingleside Middle School

Lot Info

  • Lot Size: 108' x 158'
  • Additional Parcels: No
  • Parcel #: 130-47-074-B

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer
  • Tenant Pays: Landscaping
  • Number Of Units Total: 8
  • Electric Expense: 250.0
  • Annual Gross Income: 63050.0
  • Insurance Expense: 2100.0
  • Maintenance Expense: 1500.0
  • Annual Operating Expense: 12103.0
  • Vacancy Allowance Rate: 0.03

Tax Info

  • Tax Annual Amount: 2803.0
  • Tax Book Number: 130.00
  • Tax Lot: 30

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jul 11, 2019
Sold by
Benardino John
Bought by
Sd Az 1 Llc
Current Estimated Value
$1,692,893

Purchase Details

Listed on
Jul 13, 2017
Closed on
Aug 23, 2017
Sold by
Benardino Deborah
Bought by
Benardino John
Seller's Agent
Eric Dixon
On Q Property Management
Buyer's Agent
Eric Dixon
On Q Property Management
List Price
$1,095,000
Sold Price
$800,000
Premium/Discount to List
-$295,000
-26.94%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
8.08%

Purchase Details

Listed on
Jul 13, 2017
Closed on
Aug 22, 2017
Sold by
Kirker Sheila
Bought by
Benardino John
Seller's Agent
Eric Dixon
On Q Property Management
Buyer's Agent
Eric Dixon
On Q Property Management
List Price
$1,095,000
Sold Price
$800,000
Premium/Discount to List
-$295,000
-26.94%

Purchase Details

Closed on
Oct 8, 2013
Sold by
Cheery 1 Llc
Bought by
Blue Willow 71 Llc

Purchase Details

Closed on
Jan 17, 2013
Sold by
Community Services Of Arizona Inc
Bought by
Cherry I Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$132,686
Interest Rate
3.33%
Mortgage Type
Unknown

Purchase Details

Closed on
Sep 20, 1996
Sold by
Hofker Angelyn
Bought by
Human Action For Chandler Inc

Purchase Details

Closed on
Dec 15, 1994
Sold by
Ng Chak Chung and Ng Man Lai Cheng
Bought by
Hofker Angelyn
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Sd Az 1 Llc $1,104,000 Chicago Title Agency Inc
Benardino John -- Clear Title Agency Of Arizon
Benardino John $800,000 Clear Title Agency Of Arizon
Blue Willow 71 Llc $469,000 Chicago Title Agency Inc
Cherry I Llc $132,686 Chicago Title Ins Co
Human Action For Chandler Inc $208,000 Transnation Title Ins Co
Hofker Angelyn $210,000 United Title Agency
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Cherry I Llc $132,686
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/25/2017 08/25/17 Sold $800,000 -16.7% $800 / Sq Ft
08/16/2017 08/16/17 Price Changed $959,900 0.0% $960 / Sq Ft
07/25/2017 07/25/17 Pending -- -- --
07/24/2017 07/24/17 Price Changed $959,900 -12.3% $960 / Sq Ft
07/11/2017 07/11/17 For Sale $1,095,000 -- $1,095 / Sq Ft
Source: Arizona Regional Multiple Listing Service (ARMLS)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $3,209 $46,200 -- --
2024 $3,181 $44,000 -- --
2023 $3,181 $118,710 $23,740 $94,970
2022 $3,001 $83,420 $16,680 $66,740
2021 $3,192 $69,700 $13,940 $55,760
2020 $3,164 $58,510 $11,700 $46,810
2019 $3,078 $46,810 $9,360 $37,450
2018 $2,971 $42,420 $8,480 $33,940
2017 $2,853 $38,650 $7,730 $30,920
2016 $2,803 $35,500 $7,100 $28,400
2015 $2,666 $33,220 $6,640 $26,580
Source: Public Records

Agents Affiliated with this Home

  • Eric Dixon

    Seller's Agent in 2017

    Eric Dixon

    On Q Property Management

    (480) 332-7404

    81 Total Sales

    Eric Dixon
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5632229

Arizona Regional Multiple Listing Service (ARMLS)

APN: 130-47-074B

Arizona Maricopa County Scottsdale 85251 South Scottsdale

6701 E Cheery Lynn Rd, Scottsdale, AZ

This home is located at 6701 E Cheery Lynn Rd, Scottsdale, AZ 85251 since 13 July 2017 and is currently estimated at $1,692,893, approximately $1,692 per square foot. This property was built in 1958. 6701 E Cheery Lynn Rd is a home located in Maricopa County with nearby schools including Tavan Elementary School, Ingleside Middle School, and Arcadia High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Arizona Regional Multiple Listing Service (ARMLS) All information should be verified by the recipient and none is guaranteed as accurate by ARMLS

Listing Information presented by local MLS brokerage: Ten-X, local REALTOR®- Arlene Richardson - (888)-952-6393

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