CALL FOR OFFERS ON FEBRUARY 28th 2017
BOUTIQUE MULTIFAMILY COMMUNITY SURROUNDED BY ATTRACTIVE SCOTTSDALE QUALITY OF LIFE
Enjoy the lifestyle destination know as Scottsdale, Arizona, Aya Scottsdale couples
contemporary living with close proximity to an all-encompassing live, work, and play
environment. Developed in 1970, this 125-unit apartment community offers
thoughtfully designed one- and two-bedroom floorplans with average unit sizes of
over 700 square feet. Each spacious apartment home includes fully equipped
kitchens, spacious walk-in closets, and oversized patios or balconies with large
storage rooms. Recently renovated apartment homes feature resurfaced kitchen
countertops, newly painted cabinet boxes and doors, black appliances, washer and
dryer equipment, upgraded plumbing fixtures and lighting, and the installation of
vinyl and/or new carpeting when necessary. Community amenities include
resort-style swimming pool, recently renovated clubhouse and leasing center with
fresh design and present-day appointments, a fitness center with cardio and
strength equipment, storage area, one laundry facility (20 washers and dryers) and
assigned parking spots (168).
CONTINUED VALUE-ADD OPPORTUNITY AVAILABLE THROUGH APARTMENT INTERIOR RENOVATIONS
Based on Aya Scottsdale' s positioning within the competitive landscape of the
submarket and the common area enhancements that were recently completed, the
subject property is primed for the continued implementation of the apartment
interior renovation program underway. New ownership will have the opportunity to
continue repositioning the living spaces by resurfacing the kitchen countertops,
painting the cabinet boxes and doors, integrating black appliances, upgrading the
plumbing fixtures and lighting package, as well as install vinyl and/or new carpeting
when necessary. Estimated costs of this continued renovation effort are $4,500 per
unit with the potential to generate approximately $150 per unit in monthly rent
premiums.
