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BED: 4    BATH: 2.5    SQ FT: 2,009    YEAR BUILT: 1973 7/5/23 Status Update: The Preciosa is now booking-ready on popular platforms, like Airbnb. During FF&E, we added some incredible features to enhance the guest experience. With the help of our PMs, we added over 400 sq ft of paved patio, installed over 1,800 sqft of turf and putting green, ensured the home had 30+ points of natural light, and planted navel oranges, ruby grapefruit, and Mexican lime trees in addition to the existing Meyers lemon trees. 6/23/23 Status Update: The close date was pushed, causing a delay in the start of construction and the FF&E process. However, we are now back on track and ahead of the Onboarding schedule. The exterior renovation is one-third complete, and nearly all the required items have been ordered and are on-site. We will begin working on the interior building and furnishings this week. This particular project is currently ahead of schedule, and we are hopeful that it will be live by the end of this month. The pool is the only concern at the moment. It was not cleaned for a while after closing, but the pool vendor is working diligently to clean it without draining. However, if necessary to keep the project on track, the pool will be drained and cleaned. The project manager will closely monitor the situation and ensure proper attention is given to it. The Preciosa is a contemporary 4-bedroom, 2.5-bathroom home in the heart of Scottsdale, AZ. boasting an open floor concept. The updated kitchen features sleek cabinets and stunning quartz countertops. Multi-sliding doors leading to the backyard create a seamless indoor-outdoor flow, perfect for entertaining guests or enjoying the Arizona sunshine. The Preciosa is the ideal stay for guests seeking a quintessential Arizona vacation. Amenities * Contemporary design * Large in-ground pool * Spacious backyard for gatherings * Gameroom * Driveway parking * 13 min drive to the Promenade Scottsdale, AZ Scottsdale, Arizona is a vibrant and upscale city located in the Sonoran Desert. The area is known for its luxurious resorts, world-class golf courses, and stunning desert landscapes. Visitors can explore the beautiful McDowell Sonoran Preserve, hike the iconic Camelback Mountain, or take a scenic hot air balloon ride. The city also boasts an array of high-end shopping destinations, including the Scottsdale Fashion Square and the Kierland Commons. Art enthusiasts will love the numerous galleries and museums in Old Town Scottsdale, while foodies can indulge in the city's thriving culinary scene. The city is also home to several spas and wellness centers, offering a variety of treatments and services. In addition, Scottsdale is a popular destination for events and festivals, including the annual Scottsdale Arabian Horse Show and the Barrett-Jackson Collector Car Auction. With over 300 days of sunshine a year, Scottsdale is a top destination for outdoor recreation, from hiking and biking to golfing and horseback riding. Property Management Partner Preparing a home for the short term rental market is a multi-tiered process that begins as soon as the property is acquired. Our experienced investment team works closely with the local property managers to get it show-ready, determine optimal market rent, take high-quality photos and videos, market the rental through various online and offline channels, screen and thoroughly vet tenant applications, and finalize the lease terms. Below you can find more information regarding this offering's property management partner and the expected rent-ready date. Old Town Rental Ric & Jen, founders of Old Town Rental, have traveled the world from Tulum to Germany and have come to the conclusion that immersing fully in a destination is the foundation of an incredible experience. Since 2017, they run a boutique-on-purpose operation where they are personally involved in managing every property on their platform. This is how they’ve built their portfolio of amazing Arizona properties, currently managing over 60 properties in the Phoenix metro and earning Airbnb Superhost and VRBO Premier Partners titles. Ric sits on the board of the Scottsdale Short Term Rental Alliance and their team was one of few PMs in the area selected to partner with Marriot Bonvoy Homes & Villas. Offering Details The Offering Details provide a breakdown of the financials for a specific property offering. The Offering Details show the operating plan for the property, including how the Raise Amount proceeds will be used. Property Purchase Price
US$875,000
Property Improvements & Cash Reserves
US$213,500
Closing Costs, Offering Costs & Holding Costs
US$66,884
Vantage Horizon Sourcing Fee (One-time)
US$43,750 Total Property Amount US$1,199,140 Monthly rent: US$2,600 VHM Fee: 5% Property Management Fees (Old Town Rental) * 10% (up to 15% depending on the performance of the property) * Furniture, Fixtures and Equipment: Included in the use of proceeds listed above when our property manager partners assist in the furnishing and property update process.