864 E Chandler Boulevard, Chandler, AZ 85225

$1,360,000
List Price
$1,360,000
Days on Market
33
Status
ACTIVE
MLS#
5741695
City
Chandler
Year Built
1962

Property Description

Hard to find 17 unit complex in Chandler, one of the hottest rental markets in the Valley. Desirable unit mix of 15 two bedroom units and 2 one bedroom units. Significantly upgraded over the last few years incl. new roofs, PEX plumbing, and cosmetic upgrades throughout. Current typical rent for a 2 bedroom is $725+ but there are many below market rent units with long-term tenants. 6.8 +/- CAP or better projected for 2018. Potential to achieve an 8 +/- CAP with average rent/unit of $725. Situated on a huge 1.5+ acre lot that would allow for more units to be added. Expenses are estimated, buyer to complete and rely on own due diligence. See attached Offering Memorandum (OM) in documents tab for more information. No interior showings until escrow. Price firm.

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 Re/Max Platinum Living.

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.