Institutional Property Advisors has just brokered a major deal in downtown Scottsdale: the $66.1 million sale of Scottsdale on Main, a 119-unit luxury mid-rise community. Designers refer to it as a “monument” to Scottsdale’s exclusivity and for good reason. Located just steps from Fashion Square, the Waterfront, and Old Town’s restaurants, this project highlights a core truth: premium multifamily investment and residential living go hand in hand in Scottsdale. For buyers looking for community, walkability, and value, this sale offers strong signals about where the city is headed.

A Symbol of Scottsdale’s Growth 

Scottsdale on Main isn’t just another apartment building, it’s a reflection of downtown Scottsdale’s luxury and long-term appeal. Built recently (completed in 2024), it joins a very limited pool: only 11 multifamily properties of 100+ units have been developed in the last 25 years in this submarket. 

IPA (a division of Marcus & Millichap) pitched this as a generational asset. Its design embraces urban sophistication with podium-style construction, interior corridors, and high-end finishes. Located on Main Street, it's intentionally positioned near Scottsdale’s cultural heartbeat: walking distance to Scottsdale Fashion Square, the Waterfront, and Old Town’s entertainment and dining district. 

For institutional investors and discerning individual buyers alike, this sale represents more than cash flow, it signals confidence in downtown Scottsdale’s lifestyle future. It’s precisely the type of development that underlines why Scottsdale continues to command top-tier interest in Arizona’s real estate landscape.

Property Details & Highlights

Scottsdale on Main is a 119-unit, four-over-one podium-style mid-rise residential community. These aren’t typical apartments; they come with designer touches and upscale amenities that reflect downtown sophistication.

Key features include:

• 10- to 12-foot ceilings, wine refrigerators, oversized pantries, and walk-in showers in each unit. 
• Shared amenities like a resort-inspired swimming pool, a rooftop deck with a covered outdoor kitchen, lounge areas, and city/ Camelback Mountain views.
  
  
• Two elevators, air-conditioned interior corridors, and high-end finishes throughout encourage both daily convenience and a refined lifestyle.
  
  
• Ultra-walkable location: steps from Scottsdale Fashion Square, the Waterfront, Old Town’s restaurants, and entertainment venues, all major lifestyle draws.
  

For homebuyers seeking a blend of luxury living and urban convenience, this property proves that you don’t have to sacrifice one for the other. It’s the kind of multi-family asset that enhances neighborhood appeal while increasing long-term value.

Why This Sale Is Significant for the Scottsdale Market 

For real estate clients, the sale of Scottsdale on Main is a powerful indicator: Scottsdale isn’t just a single-family home market; it’s maturing into a multifamily hub with premium institutional-grade assets. The involvement of IPA (a high-caliber, nationally recognized firm) also signals strong confidence in Scottsdale’s downtown residential future.

This transaction reflects increasing demand for walkable, amenity-rich living near retail, dining, and entertainment especially among affluent professionals or long-term investors. Scottsdale’s central neighborhoods are strengthening, and this sale underscores how multifamily developments contribute to and amplify the city’s long-term prosperity and lifestyle appeal.

Ready to Explore Scottsdale’s Upscale Living?

At EverythingAZLiving.com, we help buyers find homes and investment opportunities that match their lifestyle goals. Whether you're attracted to multifamily sophistication or luxury single-family neighborhoods, we guide you toward the Scottsdale neighborhoods with the greatest long-term upside.