Paradise Valley Weekly 327th Edition - Oct 1, 2016 |
| One of the most exceptional deals I have seen since 2009 has just come across my radar.
In brief, it's a distressed seller of a commercial property in a prime area of Scottsdale. The cap rate is double digits and it's a national tenant. The catch? It will take $9.5-$10 million to close this deal, and it will have to be cash since it must close quickly.
Two weeks ago, I closed a $7+ million commercial property near this one, so I am very familiar with the area and the values. If you'd like to learn more, please reply back to this email with the best number to reach you.
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On a related note, most readers know me for my expertise in luxury real estate. I’ve built luxury homes in Paradise Valley and Silverleaf, as well as of course representing numerous clients in luxury real estate.
However...
I also have bought and sold hundreds of acres of land, tens of thousands of square feet of office space, and syndicated tens of millions of dollars in investment properties.
Several of my clients have come to me with commercial and investment needs over the years, but it occurred to me that many of my readers may be unaware that I can help them with office space, investment properties, 1031 exchanges, etc.
Even if I am not the right person for a particular property or area, I probably know the person with the most experience to assist you.
Next time you have a commercial or investment real estate need, please don't hesitate to email or call.
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Arizona is benefitting from California's exorbitant cost of living and high taxes. While that's been true for years, the pace is accelerating as California has become untenable for many people.
Young engineers earning 6 figure salaries in San Francisco are barely scraping by, and can't afford to buy homes.
There's no end in sight for the rising cost of living in California, and this bodes very well for Arizona in the coming decade. This article in the Wall Street Journal provides some interesting numbers.
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5 bedroom remodeled home with guest house and 7 car garage on quiet street. Priced to sell at just under $1.65 million. Please click here for details. |
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Closings After last week's strength, this past week dipped down again with just 3 single family homes closing in Paradise Valley. This time of year is typically slow, the "calm before the storm" of high season starting in January.
However, that also makes fall the best time to be a buyer. The competition is much less, and sellers are more inclined to offer concessions to avoid sitting on market for months. Listings 14 new listings this week, from just $420k to $6.5 million. There are 3 standouts:
Incredible View of Camelback, Superb Modern Design Giant glass wall looks out on Camelback Mountain from this exceptional modern home. The floors, cabinets, and countertops are beautiful. If you are looking for hillside modern, don't delay on this one and please call me at (480) 442-7325. Offered at $3.65 million.
A House Big Enough for ShaqThis Gary Geitz build, a +/- 9,000 square foot home, was the former residence of NBA Hall of Famer Shaquille O'Neal. The home sits on almost two acres and has superb outdoor living, a 6 car garage, guest house, giant pool, and the list goes on. Well priced at just under $4 million. --> Click for Pictures or to Schedule a Showing
To see: - Unlisted "private sale" properties not on the MLS, please click here.
- This week's new MLS listings please click here.
- Everything on the MLS in Paradise Valley please click here.
That's all for this week, I'll be back in next week with all the latest in Paradise Valley real estate.
Sincerely,
Alex Goldstein (480) 442-7325
p.s. Why keep your money in savings when it can earn 6-15% per year? Learn about cash flowing real estate here.
Disclaimer: All information is believed to be accurate, but should be verified by the reader and is provided without warranty. Please consult appropriate financial, tax, legal, and real estate advisors before making decisions. This email is not intended to solicit people who are represented by another agent.
(c) 2016 Alex Goldstein PLLC
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