Milano Terrace Condominiums

The Milano Terrace condominiums are presently on my list as one of the
“best buys” for those looking to break into the Scottsdale condo market at a reasonable price. Originally built in 1985, Milano Terrace underwent major rennovations in 2005 – 2006 to bring the condos up to modern standards. Many of the units received upgrades such as cherry cabinets, stainless appliances, ceramic tile, carpet, paint, hvac, washer / dryer, fixtures and more. Whether your looking for a primary residence, vacation home, or are a Canadian looking to get out of the cold winters up north, Milano Terrace could be the community you’ve been looking for.

Milano Terrace Condominiums For Sale

$0 – $500,000 (All)

$0 – $500,000 (Foreclosures Only)

Milano Terrace Condos For Lease

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Additional Nearby Condo Communities (MLS Search)

√ Aderra √ Villas At Stonecreek √ Bella Terra

Milano Terrace Features and Amenities

• 2 pools & spas
• clubhouse
• borders the Stonecreek Golf Club to the east with view properties available
• most units come with a 1 car garage (not the norm in this price range)
• units refurbished in 2005 – 2006, many with stainless appliances, fixtures, flooring, new air conditioners, washer / dryer etc
• gated community
• amazing location with easy access to the I-51 freeway to the west, and Scottsdale Road to the east.
• borders Paradise Valley (our Beverly Hills for lack of a better comparison) with many multi-million dollar homes.
• walking distance to shopping such as Albertsons, Fry’s Marketplace, Trader Joes, Whole Foods Market, California Pizza Kitchen, Z Tejas, Nicks Italian etc
• Milano Terrace is also just a mile or two from the Paradise Valley Mall, home to stores such as Macy’s, Dillards and coming in September (my favorite store) Costco.
• beautiful landscaping including plenty of grass, palm trees, oleander, lantana, fountains, water features, man-made stream etc
• located in the “Golden” zip code of 85254 (Scottsdale address with lower Phoenix taxes and services)
• At the present time there is a nice selection of foreclosures, bank owned properties, REO’s and short sales available for the savvy buyer.

About

Milano Terrace Scottsdale is located at 5122 East Shea Boulevard just to the north of Paradise Valley and east of North Phoenix. Milano Terrace is a medium size condo subdivision by Scottsdale standards with a total of 224 units. The condominiums range in size from 693 square feet for the smallest 1 bedroom unit to about 1,253 square feet for the largest 2 bedroom unit. Unfortunately, there are no 3 bedroom units in Milano Terrace. Currently prices start at $117,900 for a 2 bedroom foreclosure and work their way up to $220,000.

→ Milano Terrace Map ← (Google)

There’s a couple of items in my mind at least that make Milano Terrace condominiums very unique for the price range. The first, is that most of the condos come with a 1 car garage. If you have been shopping for real estate in Scottsdale at the lower price points there’s no doubt that you can really appreciate how rare this is! Milano Terrace also borders the Stonecreek Golf Club to the east. Now, it’s not unique that this complex borders a golf course. What is unique is that you can get a 2 bedroom golf course view condo in Scottsdale for under $200,000. If you head up North to Kierland, a 2 bedroom condo with golf course views in Kierland Greens will run approximately $400,000 – $450,000 .

Homeowners Association

I believe Parker Finch is still providing property management at Milano Terrace and can be reached at 480.284.5551. The current homeowners association dues are approximately $180.00 – $195.00 a month and include water, sewer, trash, blanket hazard insurance policy, common area maintenance, roof repair / replacement etc… The HOA dues may seem excessive to some, but for water, sewer, trash and hazard insurance policy on my personal residence I pay approximately $160.00 a month. So, for upkeep of the beautiful landscaping, 2 pools and spas, clubhouse, water, sewer, trash, roof repair, common area maintenance etc, $180.00 or so a month seems like an extreme bargain to me.

Property Taxes

The property taxes at Milano Terrace are very reasonable. It looks like a 1 bedroom unit will run around $780.00 annually, while a two bedroom unit will range from about $870.00 – $1100.00 for the year.

Schools

For those that have children, Milano Terrace is served by the Scottsdale Unified School District. The corresponding schools are Sequoya Elementary School, Cocopah Middle School, and Chaparral High School. If your kids are into baseball or golf, Milano Terrace may just be the place for you. Chaparral High School is widely considered tops among these 2 programs with pro scouts routinely attending the boys baseball games.

If Milano Terrace is the perfect location for you, but not the perfect fit, you may want to consider the Villages at Stone Creek, Tuscan Villas or Bella Terra.

Have a question about Milano Terrace condominiums, or other communities in the greater Scottsdale area?

Additional Resources:

Find out the market value of your Milano Terrace condominium.
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All information provided by Barry Cox, a local Scottsdale Realtor.

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