Los Porticos

07-29-2022
08-07-2022

1221 N 85th Pl, Scottsdale, AZ 85257

Los Porticos is just outside of Old Town Scottsdale, one of the most sought-after submarkets in Arizona where rents are thirty percent above the metro average and tenants are minutes away from Arizona State University, popular restaurants, night life, and shopping at the renowned Fashion Square Mall, Tempe Marketplace, and dozens of boutique shops located in Old Town Scottsdale, a key tourist destination in Arizona.
Los Porticos, built in 1984, features 24 units with an active condo map and an attractive unit mix of 8 one-bedroom one-bathroom and 16 two-bedroom two-bathroom units. Both properties feature significant interior and exterior renovations and
upgrades. Ideally located less than a 7-minute drive from Old Town Scottsdale, which features luxury shopping, plentiful restaurants, and an active nightlife with dozens of entertainment venues. Fashion Square Mall anchors Old Town and is comprised of over 200 high end shops. Only 3 miles away is Scottsdale Stadium, home of the San Francisco Giants spring training attracting thousands of visitors during season. Arizona State University Tempe Campus is also less than 10 minutes away, the largest college in the country with over 54,000 students that live in Tempe.
Los Porticos provides an investor the unique opportunity to own a legacy asset in one of the most sought after sub markets in the metro area, Scottsdale, Arizona, with the ability to complete the rest of the interior renovations to the “platinum” level and capitalize on the rent levels that can be achieved in this submarket.

Key Property Information

Listing Status
Available
Price
$ 8,500,000
No. of Units
24
Cap Rate
4.97%
Year Built
1984
Building Size
18,624 Sq ft
Lot Size
1.35 acres
No. of Stories
2
Opportunity Zone
No
Price per unit
$ 354,167
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33.461792, -111.897225

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