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… Read More 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. Read Less
Courtesy of R.O.I. Properties 602-319-1326
Listing Snapshot
Days Online
1
Last Updated
Property Type
Comm/Industry Sale
Lot Size
0.82 Acres
Year Built
1957
MLS Number
7051097
30 Days Snapshot Of 85254
$1.16M
+2%
(avg) sold price
71
-14%
homes sold
101
+44%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1957, Building features: "Other (See Remarks)", Living area: 11034
Cooling
"See Remarks"
Fence
"See Remarks"
Heating
"See Remarks"
Lot
0.82 acres, 35,657 sqft
Parking
25 total parkings
Property
Zoning: R-3, R-2, RM-3
Roof
"See Remarks"
Sewer
"See Remarks"
Taxes
Lot: -
Utilities
"Other (See Remarks)"
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