864 E Chandler Boulevard, Chandler, AZ 85225

$1,360,000
List Price
$1,360,000
Price Change
▲ $11,000 1533718077
Days on Market
263
Status
ACTIVE
MLS#
5741695
City
Chandler
Year Built
1962

Property Description

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.

Additional Information

School District
080 - Chandler Unified District
Construction
Frame - Wood
Cooling
Window/Wall Unit
Electric
APS
Exterior Amenities
Desert Landscaping
Finish
Painted, Siding
Floors
Carpet, Vinyl/Composition, Ceramic Tile
Gas
SW Gas
Guest House Sq Ft
34
Heating
Gas
Interior Amenities
Unfurnished, Mini Blinds, Fire/Smoke Alarm(s)
New Financing
Conventional, No Carry, 1031 Exchange
Parking
>1 Space Per Unit, RV/Boat Parking, Add'l Parking Avail
Project Type
13 - 24 Units
Roofing
Comp Shingle
Sewer
Sewer - Public
Pool
Yes
Taxes
$3,814
Tenant Pays
Electric, Gas
Units
17
Water
City Franchise
Zoning
multi

Mortgage Calculator

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Calculator source: Real Geeks

Listing courtesy of Platinum Living Realty.

All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. Copyright 2018 Arizona Regional Multiple Listing Service, Inc. All rights reserved.