$4,800,000
Scottsdale, AZ 85257
MLS# 6199107
Status: Closed
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Property Description
The Trullies is an impeccably maintained gated garden-style fully furnished turn key occupancy 12-unit boutique condo community. Located in a quaint Scottsdale neighborhood just blocks from Old Town. Built in 1984 and completely transformed in 2015. The Trullies enjoys all the flair of a Mediterranean resort with modern European interior finishes. The renovations include wood plank tile floors, Thermofoil euro style kitchen cabinets, reclaimed wood shelving & pantry, prep island, granite countertops, farm sink, stainless steel appliances, washer/dryer, contemporary bathrooms with glass tile shower & tub surrounds, Euro-style glass shower enclosures, stainless steel/cast-iron sink vanities & low-flow toilets. Each has a private patio or walk-out balcony. See supplement for more info...
Details
Maps
Contract Info
Ownership: Fee Simple
Current Price: $4,800,000
Sold Price: $4,800,000
Status: Closed
List Date: 2021-02-25
Location, Tax & Legal
Assessor's Map #: 23
Assessor's Parcel #: 49
Add'l Parcels: Yes
Tax Municipality: Maricopa - COUNTY
Taxes: 9132
Legal: will be provided in escrow
Marketing Name: TRULLIES
Map Code/Grid: P37
House Number: 7910-7920
Compass: E
Street Name: Wilshire
St Suffix: Drive
City/Town Code: Scottsdale
State/Province: AZ
Zip Code: 85257
County Code: Maricopa
Subdivision: Trullies Condominiums
Assessor Number: 131-23-049
Tax Year: 2020
General Property Description
# of Buildings: 2
Uncvrd Parking Spcs: 0
Lot Size Dimensions: unknown
Flood Zone: No
Total # of Units: 12
Elementary School District: Scottsdale Unified District
High School District: Scottsdale Unified District
Elementary School: Pima Elementary School
Jr. High School: Supai Middle School
Year Built: 1984
Zoning: Multi Family
Project Type
5 - 12 Units: 1
Construction
Wood Frame: 1
Const - Finish
Painted: 1
Stucco: 1
Roofing
Built-Up: 1
Floors
Ceramic Tile: 1
Carpet: 1
Sale Includes
Land & Building: 1
Personal Property: 1
Pool Equipment: 1
Laundry Equipment: 1
Income & Expenses
Annual Elec Exp: 23000
Annual Gas Exp: 7000
Annual Ins Exp: 7000
Annual Land Lse Exp: 0
Annual Landscape Exp: 18000
Annual Legal & Acctg: 10000
Annual Maint Exp: 14000
Annual Mgmt Exp: 20000
Annual Trash Exp: 12000
Annual Wtr/Swr Exp: 18000
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 36000
Operating Exp: 174132
Other Income: 2400
Vacancy Allowance: 0.19
Adjusted Gross Inc: 410184
Status Update
Multiple Offers Recd: 1
Pmt & Rate Info
Cap Rate: 5.25
Equity: 4500000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0
Lockbox Type
None: 1
Community Features
Heated Pool(s): 1
Heated Spa(s): 1
Manager Res/Office: 1
Barbecue: 1
Other: 1
See Remarks: 1
Heating
Electric: 1
Central: 1
Cooling
Central Air: 1
Exterior Amenities
Landscape Water System: 1
Green 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
Free-Standing Range: 1
Refrigerator: 1
Dishwasher: 1
Disposal: 1
Microwave: 1
Washer/Dryer: 1
Source of Fincl Data
Owner: 1
Books Shwn Accpt Ofr: 1
Water Source
Master Meter: 1
Sewer
Sewer - Public: 1
Parking Features
Garage: 1
>1 Space Per Unit: 1
Paved: 1
Add'l Parking Avail: 1
Electric
SRP: 1
Individual Meter: 1
Gas
SW Gas: 1
Master Meter: 1
Owner Pays
Water: 1
Sewer: 1
Gas: 1
Trash Collection: 1
Landscaping: 1
Pool Maintenance: 1
New Financing
Conventional: 1
Existing 1st Loan
Treat as Free&Clear: 1
Existing 2nd Loan
Treat as Free&Clear: 1
Existing 3rd Loan
Treat as Free&Clear: 1
Reports/Disclosures
None: 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Contact Info
List Agent Home Phn: 480-215-4314
List Agent Hme Phn 2: 602-989-2343
List Agent Cell Phn2: 480-215-4314
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
# 2 Bedroom Units: 8
Avg Rent: 4000
Avg SqFt: 980
# Baths: 2
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
# 4 Bedroom Units: 2
Avg Rent: 0
Avg SqFt: 1960
# Baths: 4
Sold Info
Loan Type: Other
Closing Cost Split: Normal - N
Payment Type: Other
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 0
Seller Concession $/%: $
Remarks Misc
Cross Street: Hayden & Thomas
Directions: From the 101 go West on Thomas to Hayden, turn (L) South on Hayden to Wilshire and turn (R) West. The property is the second complex on the north side of Wilshire
Geo Lat: 33.476526
Geo Lon: -111.910397
Status Change Info
Off Market Date: 2021-06-03
Under Contract Date: 2021-04-12
Close of Escrow Date: 2021-06-23
Sold Price: $4,800,000
Legal Info
Lot Number: 1-10
Income Expenses
Gross Annual Sch Inc: 504000
Net Operating Income: 236052
Property Features
Project Type: 5 - 12 Units
Construction: Wood Frame
Const - Finish: Painted; Stucco
Roofing: Built-Up
Floors: Ceramic Tile; Carpet
Sale Includes: Land & Building; Personal Property; Pool Equipment; Laundry Equipment
Community Features: Heated Pool(s); Heated Spa(s); Manager Res/Office; Barbecue; Other; See Remarks
Exterior Amenities: Landscape Water System; Green Landscaping; Fenced; Cable TV Available; Patio/Balcony; Separate Storage; Security Light(s)
Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Disposal; Microwave; Washer/Dryer
Heating: Central
Cooling: Central Air
Water Source: Master Meter
Sewer: Sewer - Public
Electric: SRP; Individual Meter
Gas: SW Gas; Master Meter
Parking Features: Garage; >1 Space Per Unit; Add'l Parking Avail; Paved
Owner Pays: Water; Gas; Trash Collection; Landscaping; Pool Maintenance
Tenant Pays: Electricity; Cable TV
Source of Fincl Data: Owner; Books Shwn Accpt Ofr
Status Update: Multiple Offers Recd
Lockbox Type: None
Existing 1st Loan: Treat as Free&Clear
Existing 2nd Loan: Treat as Free&Clear
Existing 3rd Loan: Treat as Free&Clear
Existing Othr Ln Trm: Not Applicable
New Financing: Conventional
Environmental: None
Supplements
The exterior includes a grand ramada, designer outdoor furniture, gas fireplace, 2 gas BBQs, heated pool & spa, mature & maintained climate resistant lush landscape with beautiful trees & date palms, Sunbrella awnings & corrugated steel planter boxes thru-out. There are (8)-2 bed/2-bath 980sf units & (2)-4 bed/4-bath 1980sf units (currently split-up and rent as 4 separate units) all individually metered for electricity & hot water closets. This is a gated complex with 2 automatic entry gates, controlled entry access, 19 covered parking spaces & one 2-car garage, large storage building & business center. Trullies is in excellent condition, 100% maintained with newer air conditioners, roofs, asphalt, water heaters, gas line, pool equipment, pebble tec & landscape irrigation. Trullies offers a perfect location for both short-term visitors and traditional residents; centrally located providing quick access to Phoenix Sky Harbor International Airport, ASU, 5-minute ride to Old Town Scottsdale & close to the best shopping & restaurants.
Listing Office: HomeSmart
Last Updated: March - 10 - 2025
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