$3,600,000
Scottsdale, AZ 85251
MLS# 6129168
Status: Closed
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Property 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.
Details
Maps
Contract Info
Ownership: Fee Simple
Current Price: $3,600,000
Sold Price: $3,600,000
Status: Closed
List Date: 2020-09-08
Location, Tax & Legal
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
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
General Property Description
# of Buildings: 2
Uncvrd Parking Spcs: 3
Lot Size Dimensions: unknown
Total # of Units: 13
Elementary School District: Scottsdale Unified District
High School District: Scottsdale Unified District
Year Built: 1959
Zoning: R-5
Legal Info
Range: 4E
Section: 27
Township: 2N
Lot Number: 1
Project Type
13 - 24 Units: 1
Construction
Block: 1
Const - Finish
Painted: 1
Stucco: 1
Roofing
Other: 1
Floors
Concrete: 1
Sale Includes
Other (See Remarks): 1
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: 1
Lockbox Type
None: 1
Community Features
Pool: 1
Golf: 1
Barbecue: 1
Other: 1
See Remarks: 1
Heating
Electric: 1
Individual: 1
Cooling
Electric: 1
Individual: 1
Exterior Amenities
Landscape Water System: 1
Desert Landscaping: 1
Fenced: 1
Cable TV Available: 1
Patio/Balcony: 1
Separate Storage: 1
Security Light(s): 1
Tenant Pays
Electricity: 1
Cable TV: 1
Appliances Included
Dishwasher: 1
Disposal: 1
Microwave: 1
Refrigerator: 1
Free-Standing Range: 1
Other: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
Carport: 1
Electric
Other (See Remarks): 1
Gas
Other (See Remarks): 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
Landscaping: 1
Pool Maintenance: 1
Other: 1
New Financing
Conventional: 1
1031 Exchange: 1
Other (See Remarks): 1
Reports/Disclosures
Other (See Remarks): 1
Environmental
Other (See Remarks): 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 8
Avg Rent: 1400
Avg SqFt: 687
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 5
Avg Rent: 1720
Avg SqFt: 1000
# Baths: 2
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Cash to Loan
Loan Years: 30
Closing Cost Split: Normal - N
Payment Type: Fixed
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 0
Seller Concession $/%: $
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.
Geo Lat: 33.48963
Geo Lon: -111.93302
Status Change Info
Off Market Date: 2020-09-17
Under Contract Date: 2020-09-16
Close of Escrow Date: 2020-12-31
Sold Price: $3,600,000
Income Expenses
Gross Annual Sch Inc: 237600
Net Operating Income: 187345
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)
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 visitors and traditional residents. Capri
also enjoys proximity to Scottsdale Fashion Square Mall and the Scottsdale
Waterfront. Both shopping centers offer a vast selection of high-end stores,
boutiques, restaurants, and cafes including Neiman Marcus, Macy's, Juicy Couture,
Gucci, P.F. Chang's, Kona Grill, Creamistry, and Press Coffee. Capri is centrally
located providing quick access to Phoenix Sky Harbor International Airport,
Downtown Phoenix, and Arizona State University in Tempe.
Listing Office: ABI Multifamily
Last Updated: March - 01 - 2025
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