5 Property Leased-Fee Portfolio --, Scottsdale, AZ 85254
- $1,100,000
- 11,034
- SqFt
- List Price
- $1,100,000
- Days on Market
- 65
- Status
- ACTIVE
- MLS#
- 7051097
- City
- Scottsdale
- Living SQFT
- 11,034
- Lot Size
- 35,657
- Year Built
- 1957
Property Description
This is a rare opportunity to acquire the leased-fee (lessor) interest in a five-property residential ground-lease portfolio across Scottsdale, Tempe, and Mesa -- three single-family homes, one triplex, and one fourplex, ten residential units in total. The owner holds the land and collects an in-place ground rent of approximately $31,707 per year that increases 17.5% every five years by contract. The leases are absolute-n: the lessees pay all property taxes, insurance, maintenance, and capital costs, leaving the owner with no operating responsibilities. Roughly 93 to 97 years remain on the 99-year terms, at the end of which the land and all improvements revert to the owner at no cost.
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Additional Information
- Acres
- 0.82
- Construction
- See Remarks
- Cooling
- See Remarks
- Fencing
- See Remarks
- Flooring
- Other
- Heating
- See Remarks
- Living Area
- 11,034
- Lot Size
- 35,657
- Parking Features
- See Remarks
- Roofing
- See Remarks
- Sewer
- See Remarks
- Water
- See Remarks
- Zoning
- R-3, R-2, RM-3
Courtesy of R.O.I. Properties. 602-319-1326
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