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498 N Arizona Avenue

Chandler, AZ 85225
  • $2,450,000
  • STATUS: Active
  • ON SITE: 11 Days
  • MLS #: 6463975
UPDATED: 73 min ago
$2,450,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
Built:
1948
County:
Area:

School Ratings & Info

Description

A stabilized 12 unit property with a diverse unit mix of 8 1bedroom/1bathroom units, 3 2bedroom/1bathroom units, and 1 3bedroom/2bathroom units. The property has seen extensive capital improvements in the last 30 days, including new sewer lines, new exterior stucco and paint, a freshly renovated courtyard, new windows on all units, a redone parking lot, and two units fully renovated. The remaining tenants are on Month to Month leases or have leases that will be expiring soon. Opportunity to raise rents immediately or continue interior unit renovations to achieve highest market rents in desirable submarket of Chandler.

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Arizona Regional MLS logo© 2022 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. The ARMLS logo indicates a property listed by a real estate brokerage other than The Garcia Group | eXp Realty. Data last updated 2022-10-01T13:26:53.53.
www.beckygarcia.com/homes/133205623
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498 N Arizona Avenue Chandler, AZ 85225

  • Price: $2,450,000
  • Status: Active
  • On Site: 11 Days
  • Updated: 73 min ago
  • MLS #: 6463975
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1948
Built
County:
Maricopa
Area:
Chandler
School District:
080 - Chandler Unified District
Property Description
A stabilized 12 unit property with a diverse unit mix of 8 1bedroom/1bathroom units, 3 2bedroom/1bathroom units, and 1 3bedroom/2bathroom units. The property has seen extensive capital improvements in the last 30 days, including new sewer lines, new exterior stucco and paint, a freshly renovated courtyard, new windows on all units, a redone parking lot, and two units fully renovated. The remaining tenants are on Month to Month leases or have leases that will be expiring soon. Opportunity to raise rents immediately or continue interior unit renovations to achieve highest market rents in desirable submarket of Chandler.
Exterior Features

Construction Block Construction Finish PaintedStucco Covered Parking Spaces 0.00 Lot Size Dimensions 14941 Parking >1 Space Per UnitStreet Parking Roads Asphalt Roofing Rolled

Interior Features

1 Bedroom Unit Avg Sq Ft 513 1 Bedroom Unit Baths 1 2 Bedroom Unit Avg Sq Ft 850 2 Bedroom Units Baths 1 3 Bedroom Unit Avg Sq Ft 1150 3 Bedroom Unit Baths 3 4 Bedroom Unit Avg Sq Ft 0 4 Bedroom Unit Baths 0 Appliances Included Bi Oven/RangeDishwasherDisposalF/S Oven/RangeMicrowaveRefrigeratorW/D HookupWasher/Dryer Cooling Ceiling Fan(S)ElectricIndividual Efficiency Unit Avg Sq Ft 0 Efficiency Unit Baths 0 Floors Ceramic TileVinyl Heating Electric Interior Amenities Fire/Smoke Alarm(S)Unfurnished

Property Features

1 Bedroom Unit Avg Rent 1435.00 1 Bedroom Units 8 2 Bedroom Unit Avg Rent 1585.00 2 Bedroom Units 3 3 Bedroom Unit Avg Rent 1885.00 3 Bedroom Units 1 4 Bedroom Unit Avg Rent 0.00 4 Bedroom Units 0 Adjusted Gross Inc 212080.80 Annual Elec Exp 20000.00 Annual Gas Exp 0.00 Annual Ins Exp 6500.00 Annual Land Lse Exp 0.00 Annual Landscape Exp 0.00 Annual Legal And Acctg 0.00 Annual Maint Exp 20000.00 Annual Mgmt Exp 12000.00 Annual Ownr Asoc Fee 0.00 Annual Pad Fee 0.00 Annual Wtr Swr Exp 7200.00 Community Amenities No Pool Cross Street Arizona Ave And Chandler Blvd Efficiency Unit Avg Rent 0.00 Efficiency Units 0 Electric ApsMaster Meter Gas Sw Gas Gross Annual Sch Inc 192000.00 Hoa YN No Net Operating Income 145000.00 New Financing 1031 ExchangeConventional Operating Exp 69556.00 Other Income 26640.00 Owner Pays ElectricGasSewerTrash CollectionWater Project Type 5 - 12 Units Sale Includes Land & Building Sewer Sewer - Public Source Of Financial Data Projected ProformaProvided By Owner Tax Municipality Chandler Taxes 3856.00 Tenant Pays Other (See Remarks) Totl Mnth Rntal Inc 15260.00 Vacancy Allowance 0.03 Water City Franchise Zoning C-3

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Arizona Regional MLS logo© 2022 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. The ARMLS logo indicates a property listed by a real estate brokerage other than The Garcia Group | eXp Realty. Data last updated 2022-10-01T13:26:53.53.
 
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The Garcia Group | eXp Realty
16165 N 83 Ave # 200
Peoria AZ, 85382