$950,000
Scottsdale, AZ 85251
MLS# 6971991
1 / 8
Property Description
This property is a 4-unit mixed-income housing community situated in Old Town Scottsdale. The property was built in 1958 and was later placed in service under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. There is an existing regulatory agreement in place which requires all 4 units to be rented to income qualifying residents earning no more than 50% and 60% of the Area Median Income (AMI) limits, which are provided by The Arizona Department of Housing. The low income restriction is set to expire in July 2027. The property offers a range in unit types with (1) large studio, (1) 1-bed / 1-bath units, and (2) 2-bed / 1-bath units. The studio has the layout ability to be converted into a 1-bed / 1-bath unit. Community amenities include a courtyard space and ample parking.
Details
Maps
Contract Info
Ownership: Fee Simple
Current Price: $950,000
List Price: $950,000
Status: Active
List Date: 2026-01-16
Location, Tax & Legal
Assessor's Map #: 47
Legal Description (Abbrev): LOT 38 HOLIDAY PARK 2 MCR
Assessor's Parcel #: 82
Add'l Parcels: No
Tax Municipality: Scottsdale
Census Tract: 217501
Taxes: 1105
Legal: LOT 38 HOLIDAY PARK 2 MCR
Marketing Name: 6638 E CHEERY LYNN RD
House Number: 6638
Compass: E
Street Name: CHEERY LYNN
St Suffix: Road
City/Town Code: Scottsdale
State/Province: AZ
Zip Code: 85251
Zip4: 6741
County Code: Maricopa
Subdivision: HOLIDAY PARK 2
Assessor Number: 130-47-082
Tax Year: 2025
General Property Description
# of Buildings: 1
Uncvrd Parking Spcs: 8
Lot Size Dimensions: 8545
Total # of Units: 4
Elementary School District: Scottsdale Unified District
High School District: Scottsdale Unified District
Year Built: 1960
Zoning: R-5
Legal Info
Range: 4E
Section: 27
Township: 2N
Lot Number: 38
Project Type
Four Plex: 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Composition: 1
Floors
Tile: 1
Sale Includes
Land & Building: 1
Income & Expenses
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 1105
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 0
Pmt & Rate Info
Equity: 950000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Showing Service: Aligned Showings
Lockbox Type
None: 1
Community Features
No Pool: 1
Heating
Central: 1
Cooling
Central Air: 1
Exterior Amenities
Desert Landscaping: 1
Partially Fenced: 1
Interior Features
Unfurnished: 1
Tenant Pays
Electricity: 1
Appliances Included
Free-Standing Electric Oven: 1
Refrigerator: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Master Meter: 1
Sewer
Sewer - Public: 1
Parking Features
<1 Space Per Unit: 1
Paved: 1
Electric
Individual Meter: 1
Gas
None: 1
Owner Pays
Water: 1
Electric: 1
Gas: 1
New Financing
Cash: 1
Conventional: 1
Reports/Disclosures
None: 1
Environmental
None: 1
Efficiency Units
# Efficiency Units: 1
Avg Rent: 750
Avg SqFt: 537
# Baths: 1
1 Bedroom Units
# 1 Bedroom Units: 1
Avg Rent: 802
Avg SqFt: 695
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 2
Avg Rent: 770
Avg SqFt: 800
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Remarks Misc
Geo Lat: 33.484747
Geo Lon: -111.937386
Property Features
Project Type: Four Plex
Construction: Block
Const - Finish: Painted
Roofing: Composition
Floors: Tile
Sale Includes: Land & Building
Community Features: No Pool
Exterior Amenities: Desert Landscaping; Partially Fenced
Interior Features: Unfurnished
Appliances Included: Free-Standing Electric Oven; Refrigerator
Heating: Central
Cooling: Central Air
Water Source: City Franchise; Master Meter
Sewer: Sewer - Public
Electric: Individual Meter
Gas: None
Parking Features: <1 Space Per Unit; Paved
Road Surface Type: Asphalt
Owner Pays: Water; Electric; Gas
Tenant Pays: Electricity
Source of Fincl Data: Owner
Lockbox Type: None
New Financing: Cash; Conventional
Environmental: None
Listing Office: ABI Multifamily
Last Updated: January - 21 - 2026
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