Hard to find 17 unit complex in Downtown Chandler, one of the hottest rental markets in the Valley. Desirable unit mix of 13 two bedroom units and 4 one bedroom units. Significantly upgraded over the last few years including new roofs, PEX plumbing, and 1/2 of the units ($7,000 +/- unit upgrade package with new cabinets, counter tops, flooring, lighting, etc.) Current typical rent for a 2 bedroom is $725+ but there are many below market rent units with long-term tenants. 7.14 +/- CAP or better projected for 2018. Potential to achieve an 8 +/- CAP or higher once units all close to market rates. Situated on a huge 1.5+ acre lot that would allow for more units to be added. Offering Memorandum, Rent Roll, and T-12 P&L available upon request.
Listing courtesy of Platinum Living Realty.
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