• 985 N Granite Reef Rd, Scottsdale, AZ 85257

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Property Details

Townhome-Style Condominium Project in Scottsdale

Scottsdale Haciendas is a two-story townhome-style condominium project built in 1985, comprising 79 out of 180 condominium units. The unit mix consists of 57 percent two-bedrooms, and 43 percent two-bedroom two and one-half bath townhouse units. Scottsdale Haciendas is located at 985 North Granite Reef Road in Scottsdale, Arizona.


Visit our property website to view the offering memorandum.


Building construction is made of wood frame, with painted stucco. Heating and cooling is provided by individual roof-mounted HVAC units. The utility costs associated with heating and cooling are the responsibility of the tenant.


The property is individually metered for electricity, and the costs associated with usage inside the dwelling units are the responsibility of the tenant. Hot water is provided by individual water heaters. The cost of water, sewer charges, and trash collection is the responsibility of the owner, however is reimbursed by the tenant via a $75 RUBS fee.


The property is situated south of McDowell Road, a major east-west thoroughfare running through Scottsdale and into Phoenix.


SkySong, a 1.2 million square foot mixed-use project, is located one mile northwest of the property. SkySong features Class A commercial office space, Arizona State University’s SkySong incubator and the exceptional new SkySong Apartments. More than 1,000 employees and 50 companies are housed at SkySong. It is home to both startups and Fortune 500 companies.


The immediate neighborhood surrounding Scottsdale Haciendas comprises a mixture of single-family homes, multifamily projects, and commercial/industrial developments, all with a high-income profile.


Scottsdale Haciendas is conveniently located minutes away from Scottsdale’s major attractions. Within a few minutes from the subject property there are plenty of restaurants, and 100’s of attractions such as Scottsdale Fashion Square, Camelback Mountain and the Phoenix Zoo.


Neighborhood shopping is conveniently located one mile southeast at the Albertsons-anchored shopping center. Scottsdale Regional Shopping Center and the East Gate Shopping Center located at the Scottsdale Road and McDowell Road intersection, one mile north of the subject property, boasts numerous retail options for Scottsdale Haciendas tenants.

Opportunity to own 79 out of the 180 units, including declarant rights, within the Scottsdale Haciendas condominium complex
Spacious townhome style two bedroom unit floor plans averaging over 1,000 square feet. All units boast in-unit washer/dryer
Initiating interior upgrade program will generate additional income as already evidenced by significant rental premiums on select upgraded/remodeled units. Existing market demand justifies for higher rent premiums on upgraded units
Stable HOA operations with reserves
Over 40 percent increase in asking rents from 2012, and high physical occupancy in submarket signals near term asking rents to be raised
Prime Scottsdale location, situated between Arizona State University and Old Town Scottsdale.
Prime Scottsdale location, situated between Arizona State University and Old Town Scottsdale.
Major nearby employment generators include General Dynamics C4 Systems, Arizona State University, Phoenix Sky Harbor International Airport, U.S. Airways corporate headquarters, Scottsdale Fashion Square and Scottsdale Auto Park.
Additional commercial developments at the McDowell Road and Hayden Road intersection include Walgreens, Lowe’s Home Improvement, FedEx World Service Center and Motorola Solutions
Loop 101 is approximately three miles east of Scottsdale Haciendas, providing easy access to all parts of the metropolitan area

  • Property Type
    Office
  • Submarket
  • Year Built
    1985
  • Total Acres
    1.82
  • Number of Floors
    2
  • Property ID
    1942145

Landlord's Leasing Representatives

  • Bill Hahn
    Colliers | Phoenix
     
  • Jeffrey Sherman
    Colliers | Phoenix
     
  • Trevor Koskovich
    Colliers | Phoenix