7540 E 1ST Street 16, Scottsdale, AZ 85251 (MLS# 6540415)

$1,125,000

7540 E 1ST Street 16
Scottsdale, AZ 85251
MLS# 6540415
Status: Closed

1 / 8

Property Description
Opportunity Zone! Great Development opportunity in the heart of Old Town, currently zoned D/OR-2. Preliminary studies on residential condo / townhome project with significant upside. Must be sold with 7546 E. 1st. Existing home on property is partially demoed on the interior. See Supplement attached to listing with basic project economics. Call LA for more information! Owner/Agent

Details

Maps

Contract Information

Type: Exclusive Agency

For Sale or Lease?: Sale

Current Price: $1,125,000

Sold Price: $1,125,000

Status: Closed

List Date: 2023-04-05

Location, Tax & Legal

Lot #: 16

Assessor's Map #: 25

Legal Description (Abbrev): LOT 16 BLOCK 1 REDDELL MANOR MCR 004927

Assessor's Parcel #: 16

Assessor Parcel Ltr: A

Add'l Parcels: No

Tax Municipality: Scottsdale

Census Tract: 217201

Taxes: 2500

Map Code/Grid: P37

House Number: 7540

Compass: E

Street Name: 1ST

St Suffix: Street

City/Town Code: Scottsdale

State/Province: AZ

Zip Code: 85251

Zip4: 4502

County Code: Maricopa

Assessor Number: 130-25-016-A

Subdivision: REDDELL MANOR

Tax Year: 2021

General Property Description

Apx Total Acres: 0.21

Apx Total Acres G/N: N

Price Per Acre: 5952380.95

Apx SqFt: 9118

Price Per SqFt: 137.09

Apx SqFt G/N: N

Lot Size Dimensions: 70X125

Flood Zone: No

Horses: N

Elementary School District: Scottsdale Unified District

High School District: Scottsdale Unified District

Elementary School: Pueblo Elementary School

Jr. High School: Mohave Middle School

High School: Saguaro High School

Zoning: D/OR-2

Legal Info

Range: 4E

Section: 26

Township: 2N

Lot Number: 16

Special Listing Cond

Owner/Agent: 1

Pmt & Rate Info

Equity: 1250000

Total Owed: 0

Assoc/Prop Info

HOA Y/N: N

PAD Fee Y/N: N

Assessed Balance: 0

HOA 2 Y/N: N

Showing Notification Methods

Text: 1

Email: 1

Phone Call: 1

Lockbox Type

None: 1

Existing Land Use

Residential Lot: 1

Zoned Presently

Multi-Family: 1

Potential Use

Multi-Family: 1

Hotel/Motel: 1

Parcel Size

.0 - .24 Acres: 1

Current Density

40+ Units P/Acre: 1

Proposed Density

40+ Units P/Acre: 1

Development Status

See Remarks: 1

Land Features

North/South Exp: 1

Land Configuration

Square Rectangular: 1

Water Source

City Franchise: 1

Sewer

Sewer - Public: 1

Electric

SRP: 1

Gas

SW Gas: 1

Existing Structures

Residence: 1

See Remarks: 1

Distance to Cable

On Property: 1

New Financing

Cash: 1

Conventional: 1

1031 Exchange: 1

Distance to Phone

On Property: 1

Distance to Water

On Property: 1

Existing 1st Loan

Treat as Free&Clear: 1

Distance to Electric

On Property: 1

Distance to Gas

On Property: 1

Distance to Sewer

On Property: 1

Reports/Disclosures

Seller Prop Disc Stm: 1

Environmental

None: 1

Sold Info

Loan Type: Conventional

Loan Years: 30

Closing Cost Split: Normal - N

Buyer Concession to Seller: 0

Buyer Concession $/%: %

Seller Concession to Buyer: 0

Seller Concession $/%: %

Remarks Misc

Cross Street: 1st Street between 75th and Miller

Directions: Take Indian School to 75th Street, Head south to 1st Street, go Left to property.

Geo Lat: 33.492412

Geo Lon: -111.918121

Status Change Info

Off Market Date: 2024-04-24

Under Contract Date: 2023-12-01

Close of Escrow Date: 2024-04-24

Sold Price: $1,125,000

Property Features

Special Listing Cond: Owner/Agent

Existing Land Use: Residential Lot

Zoned Presently: Multi-Family

Potential Use: Multi-Family; Hotel/Motel

Parcel Size: .0 - .24 Acres

Current Density: 40+ Units P/Acre

Proposed Density: 40+ Units P/Acre

Development Status: See Remarks

Land Features: North/South Exp

Land Configuration: Square Rectangular

Existing Structures: Residence; See Remarks

Water Source: City Franchise

Sewer: Sewer - Public

Electric: SRP

Gas: SW Gas

Distance to Cable: On Property

Distance to Phone: On Property

Distance to Water: On Property

Distance to Electric: On Property

Distance to Gas: On Property

Distance to Sewer: On Property

Existing 1st Loan: Treat as Free&Clear

New Financing: Cash; Conventional; 1031 Exchange

Environmental: None

Showing Notification Methods: Text; Email; Phone Call

Lockbox Type: None

Listing Office: GNS Realty- AZ, LLC

Last Updated: April - 24 - 2024