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$2,300,000

For Sale - Active
7120 E Kierland Blvd Apt 913, Scottsdale, AZ 85254
2 Beds
2 Baths
1,290 Square Feet
0.03 Acres Lot
Built in 2018
For Sale - Active
Units n/a
Checked: 2 hours ago
Updated: Sep 20, 2025 at 10:07AM

Investment Summary


Monthly Cash Flow
-$8,035
Cap Rate
1.5%
Cash-on-Cash Return
-18.2%
Debt Coverage Ratio
0.26
Internal Rate of Return (5 years)
-13.6%

Property Description


0.03 Acres Lot
Built in 2018
For Sale - Active
Units n/a

High rise luxury community with fantasitc ammenties. This condo is truly one you have to experience in person. The photos are beautiful, but they can't fully capture the light, flow, and feel of this exceptional space. From the elevated finishes to the world-class amenities and unbeatable location, this home checks every box. Worried about the HOA fee? Don't be. It's a value-packed savings. At Optima Kierland, the monthly HOA covers water, sewer, gas, garbage, high-speed Wi-Fi, blanket insurance, and access to resort-style amenities, including the gym, cold plunge pool, saunas, heated pool, basketball court, pickleball, bocce ball, and even a virtual golf simulator. Compare that to the true cost of a standalone home with pool upkeep, landscaping, exterior maintenance, and skyrocketing insurance, etc. and you'll quickly see: this fee replaces all of that with luxury, ease, and peace of mind. It's lock-and-leave living at its finest without the unexpected surprises. Discover unmatched sophistication in this fully upgraded 9th-floor west-facing residence in the highly sought-after Optima Kierland 7120. A boutique-style building known for its exclusivity and minimal turnover. Spanning 1,290 sq ft, this meticulously curated home features over a year's worth of designer upgrades, creating a truly turnkey experience.

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Location


Property Details


Parking

  • Description: Assigned, Community Structure, Gated
  • Details: Gated, Assigned, Community Structure, Common, Electric Vehicle Charging Station(s)
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

  • # of Baths (Total): 2.0

Interior Features

  • # of Stories: 12

Exterior Features

  • Exterior Walls Materials: Other
  • Roof Material: Other
  • Pool Community: Yes

HOA

  • Has HOA: Yes
  • Association: Optima Kierland
  • HOA Fee: $990/monthly

Land Information

  • Land Use: Residential
  • Land Use Subtype: Condominium Unit

Lot Information

  • Parcel ID: 21543466
  • Lot Size: 1289 sqft

Property Information

  • Property Type: Condominium
  • Style: Contemporary
  • Year Built: 2018

Tax Information

  • Annual Tax: $6,092

Utilities

  • Water & Sewer: Public
  • Heating: Electric
  • Cooling: Central Air, Ceiling Fan(s), ENERGY STAR Qualified Equipment

Location

  • County: Maricopa

Listing Details


Listed by:
Shawna D Messick
Russ Lyon Sotheby's International Realty
(480) 773-8838

Source:
Arizona Regional Multiple Listing Service (ARMLS)
MLS#: 6900066
Arizona Regional Multiple Listing Service (ARMLS)

Investment Summary


Monthly Cash Flow
-$8,035
Cap Rate
1.5%
Cash-on-Cash Return
-18.2%
Debt Coverage Ratio
0.26
Internal Rate of Return (5 years)
-13.6%

Purchase Details

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Purchase price:
$2,300,000
Amount financed:
-$1,840,000
Down payment:
$460,000
Closing costs:
$69,000
Rehab costs:
$0
Initial cash invested:
$529,000
Square feet:
1,290
Cost per square foot:
$1,783
Monthly rent per square foot:
$4.88

Financing Details

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Loan amount:
$1,840,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$10,884
Property tax:
$508
Insurance:
$441
Private mortgage insurance (PMI):
$0
Monthly payment:
$11,833

Operating Income

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% Rent Monthly Yearly
Gross rent:
$6,300 $75,600
Vacancy loss: (6%)
6% -$378 -$4,536
Operating income:
$5,922 $71,064

Operating Expenses


% Rent Monthly Yearly
Property taxes: (8%)
8%-$508-$6,092
Insurance: (7%)
7%-$441-$5,292
Property management: (8%)
8%-$504-$6,048
Repairs & maintenance: (5%)
5%-$315-$3,780
Capital expenditures: (5%)
5%-$315-$3,780
HOA fees: (16%)
16%-$990-$11,880
Total operating expenses: (49%)
49%-$3,073-$36,872

Cash Flow


Monthly Yearly
Net operating income:
$2,849 $34,188
Mortgage payments:
-$10,884 -$130,608
Cash flow:
-$8,035 -$96,420