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Certified Scottsdale Green Building
Current ownership went to extensive lengths in meeting the mandatory eco-friendly measures required by the City of Scottsdale to obtain Green Building status and reached the Advanced Level by implementing an excess of optional measures. New ownership will greatly benefit from this designation in the form of extremely low common amenity utility bills (water, gas, common electric) of approximately $600 per unit, per year.
Complete and Total Rehab with Unprecedented Capital Improvements
Current ownership completed and extensive reposition of Plaza Osborn in 2018. The entire water and gas plumbing system was replace, including the below slab sewer lines which are nearing the end of their useful life in most small and mid-size apartment buildings of this vintage in the Phoenix Metro market. The entire electrical, cable, and telephone systems were replaced, including new interior and exterior panels along with burying all lines from the utility poles to the buildings. The roofing system was completely stripped and rebuilt with new sheathing and 40-year Energy Star shingles with ridge cap and soffit vents extending the entire length of the buildings. These features, in conjunction with maximized cellulose roof insulation, solid foam insulation panels on the exterior walls, and new Energy Star windows and doors, provide significantly reduced utility costs for residents. The interior of the units have new tile flooring, tile showers, and new modern white flat-front door kitchen cabinets with Corian countertops. Additionally, all units have Energy Star appliances including washers and dryers, and low flow fixtures, further enhancing the bottom line for new ownership. The exterior grounds have been completely revamped including a pervious concrete parking lot, paver walkways and patios, desert and low water use vegetation reminiscent of the desert botanical gardens, five varieties of fruit trees along with the highly utilized community herb garden. These features blend seamlessly with the natural state steel gates and trellises along with a newly built wall extending the paver pool decking and completely rebuilt pool into a resident gathering spot.
Long Term, Hands-on Pride of Ownership Community
Having owned Plaza Osborn for nearly a decade, current ownership has meticulously maintained the property via a rigorous preventative maintenance program. Air Conditioner filters are replaced multiple times per year. Biannual inspections of every unit include assessing cabinet and other physical damage, sanitation issues, testing smoke and carbon monoxide detectors, changing batteries, leak detection under every fixture, and cleanout of all drains.
Scottsdale Neighborhood Trolley Transforms Location into an Amenity
Stopping directly in front of Plaza Osborn every 20 minutes, the Scottsdale Neighborhood Trolley provides residents free, safe and eco-friendly transportation to Scottsdale’s Art District, SoDo, Old Town, 5th Avenue Shops, Waterfront, and Fashion Square; all of which are located approximately 1 mile northeast of Plaza Osborn. Scottsdale’s Art District offers art fans the ability to peruse the galleries of Main Street and visit the Scottsdale Museum of Contemporary Art and Western Spirit: Scottsdale’s Museum of the West. Old Town -also known as Downtown- features an array of bars, lounges, restaurants and nightclubs ranging from neighborhood feel to high-end chic, offering endless dining and nightlife opportunities located within a short distance of each other and Plaza Osborn.
AirBnB Opportunity
Given Plaza Osborn’s location in the Old Town Scottsdale submarket, Plaza Osborn would be a prime candidate for a master lease AirBnb property, providing a new owner with a guaranteed fixed monthly rental figure, cover all property and operating expenses (outside of major mechanicals) and handle all day-to-day management duties. The net result of this arrangement typically leads to a higher return and less day-to-day involvement for the owner.
