7325 E Belleview St #1001 Scottsdale, AZ 85257

Listing details for 7325 E Belleview St #1001, Scottsdale, AZ 85257 : Fountain Villas is an attractive 20-unit townhome community located in an irreplaceable south Scottsdale location near SkySong. Built in 1969, the property is made of block construction with built-up foam roofs, and is individually-metered for electricity with roof-mounted HVAC units. Fountain Villas has a desirable unit mix consisting of studios, two and three-bedroom floor plans that average approximately 866 square feet and are extremely spacious and well designed. Many of the units have been renovated with washers and dryers, black appliances, porcelain tile flooring, granite countertops, dual pane windows, brushed nickel fixtures and hardware, and new vanities and sinks. Additional unit amenities include built-in microwaves, dishwasher, garbage disposals, walk-in closets and private back yards. Situated on approximately half an acre, Fountain Villas has attractive, professionally designed landscaping with mature shade trees and lush turf. Community amenities include a large sparkling swimming pool with a shade screen, a picnic area, courtyard fountains, stacked stone accents, upgraded lighting and covered parking. Fountain Villas offers an investor the rare opportunity to acquire a highly desirable townhome community located in an exceptional south Scottsdale location. Over the last year, the average submarket rent has increased by 10%, significantly greater than the metropolitan Phoenix average. Additionally, the South Scottsdale submarket has one of the lowest vacancy rates with an average submarket vacancy of 4.75%. With the strong submarket fundamentals coupled with the Phoenix market's continual improvement and recovery, Fountain Villas is well positioned to achieve continual revenue increase.