2938 North 61st Place, Scottsdale, AZ 85251
2,757 SF Bldg
6.70% Cap Rate
3 unit bulk condo package for sale in Scottsdale AZ – Shadow Bend Condominiums. The unit mix consists of the following: 2 two-bedroom / one-bath units of approximately 919 square feet and 1 two-bedroom / two-bath unit of approximately 919 square feet. The two bedroom apartment homes are individually metered for electricity. The homeowners association dues ($145/unit) are paid monthly and cover water, sewer, trash, common area maintenance, common area insurance and roof repairs.
Shadow Bend, is a 108-unit garden-style condominium community located in a strong rental area of downtown Scottsdale. Built in 1980, Shadow Bend has concrete tile and built-up roofs, frame construction, and was completed renovated for conversion in 2007. The property has an onsite HOA/Leasing Office, Clubhouse and Fitness Center. Each unit houses a variety of amenities including central air conditioning, a stacked or full-size washing machine and dryer, a spacious private patio or balcony, walk-in closets, dishwasher, garbage disposal, frost-free refrigerator, and ceiling fans. The windows are dressed with either mini or vertical blinds. Most units have a separate storage room; select units have vaulted ceilings and fireplaces.
DRIVE BY ONLY. PLEASE DO NOT WALK OR TALK TO ANYONE ON THE PROPERTY. PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CALL LISTING AGENT FOR ADDITIONAL INFORMATION. THANK YOU.
Shadow Bend is located just north of the northwest corner of 61st Place and Thomas Road in the city of Scottsdale. Frontage and access to the property is on 61st Place which forms the eastern border of the site. Thomas Road, a major east/west arterial street located approximately 800 feet south of the property, provides two lanes in each direction plus a center turn lane. To the immediate east, west, and north of the property is single-family housing, and a Fry’s Supermarket is adjacent to the south. The neighborhoods in the area are generally mature and upper middle income, with luxury homes surrounding the nearby Arizona Country Club. Due to Shadow Bend’s central location and proximity to expressways, the employment, entertainment, and cultural centers in downtown Phoenix are a short commute from the property. State Route 143, accessed from McDowell Road, is approximately three miles from the site. A full diamond interchange is provided at this freeway entrance. Route 143 intersects with Route 202, which connects commuters with downtown Phoenix to the west, Sky Harbor International Airport to the south, and the cities of Tempe and Mesa to the east.