$351,000
SOLD NOV 2, 2018

1002 E Commonwealth Place Chandler, AZ 85225

East Chandler Neighborhood
-- Bed
-- Bath
3,142 Sq Ft
9,017 Sq Ft Lot

Recently Sold

$112 Per Sq Ft

3% Above List Price

13 Days on Market

Highlights

  • Cooling Available
  • Willis Junior High School Rated A-
  • Heating Available

About This Home

As of June 2020

Fully Leased Four-plex investment property in South Chandler, Professionally managed since 2014. Washer/Dryer hookups, Refrigerator, and Range in each unit. HVAC units replaced within last 7 years. This community of 4-plexes built in 1979 has low vacancy and currently has room to push rents to market levels for increased profit. Tours can be scheduled upon opening of escrow. DO NOT DISTURB TENANTS OR WALK THE PROPERTY WITHOUT LISTING AGENT.

Last Agent to Sell the Property

Arvle Knight

Transworld Business Advisors of Phoenix NE License #BR535084000 Listed on: 08/29/2018

Co-Listed By

Scott Trevey

REI Marketing License #SA539099000

Last Buyer's Agent

Noor Sarwar

DPR Realty LLC License #SA564531000

DPR Realty LLC

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,404

Year Built

  • Built in 1979

Home Design

  • Wood Frame Construction
  • Composition Roof
  • Stucco

Parking

  • 8 Open Parking Spaces
  • 8 Parking Spaces

Schools

  • Rudy G Bologna Elementary School
  • Willis Junior High School
  • Perry High School

Utilities

  • Cooling Available
  • Heating Available

Listing and Financial Details

  • Tenant pays for cable TV
  • The owner pays for trash collection, water, sewer
  • Tax Lot 14
  • Assessor Parcel Number 303-02-157

Community Details

Overview

  • 4 Units
  • Building Dimensions are 9008
  • S & H Apartments Mcr 204 1 Subdivision

Building Details

  • Operating Expense $13,187
  • Gross Income $96,120
  • Net Operating Income $19,009

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,404

Year Built

Built in 1979

Lot Details

0

Listing Details

  • Cross Street: Chandler Blvd. & McQueen
  • Legal Info Range: 5E
  • Property Type: Multiple Dwellings
  • Zoning: M-H MF-2
  • Number Of Buildings: 1
  • Year Built: 1979
  • Tax Year: 2017
  • Directions: Loop 202 to McQueen, North to Commonwealth Place, East to Property on North Side
  • Road Surface Type: Asphalt
  • Professional Management Expense: 2889.0
  • Co List Office Mls Id: klcg01
  • Co List Office Phone: 602-445-4141
  • Subdivision Name: S & H Apartments MCR 204-1
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Refrigerator: Yes
  • Appliances Included:WD Hookup: Yes

Exterior Features

  • Disclosures: Seller Prop Disc Stm
  • Construction Type: Painted, Stucco, Frame - Wood
  • Roof: Composition
  • Construction:Frame - Wood: Yes

Garage/Parking

  • Open Parking Spaces: 8.0
  • Total Parking Spaces: 8.0
  • General Property Description:Uncvrd Parking Spcs: 8.0
  • General Property Description:Total Parking Spcs: 8.0
  • Parking:_greater_1 Space Per Unit: Yes

Utilities

  • Electric: APS
  • Cooling: Electric
  • Heating: Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:Electric: Yes

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Exterior Amenities:Cable TV Available: Yes
  • Interior Amenities:FireSmoke Alarm(s): Yes
  • Interior Amenities:Mini Blinds: Yes
  • Community Amenities:No Pool: Yes
  • Interior Amenities:Unfurnished: Yes

Fee Information

  • Trash Expense: 1589.0
  • Annual Water Sewer Expense: 682.0

Schools

  • Elementary School: Rudy G Bologna Elementary
  • High School: Perry High School
  • Middle Or Junior School: Willis Junior High School

Lot Info

  • Lot Size: 9008
  • Additional Parcels: No
  • Parcel #: 303-02-157

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer
  • Tenant Pays: Cable TV
  • Number Of Units Total: 4
  • Annual Gross Income: 96120.0
  • Insurance Expense: 1000.0
  • Maintenance Expense: 2504.0
  • Property Net Operating Income: 19009.0
  • Annual Operating Expense: 13186.78
  • Vacancy Allowance Rate: 4.0

Tax Info

  • Tax Annual Amount: 1403.78
  • Tax Book Number: 303.00
  • Tax Lot: 14

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 7, 2020
Closed on
May 30, 2020
Sold by
Ali Giser Shakhawat and Akhter Sultana Rabeya
Bought by
Maxfield Jonathan
Seller's Agent
Scott Trevey
REI Marketing
Buyer's Agent
Todd Pippin
My Home Group Real Estate
List Price
$475,000
Sold Price
$455,000
Premium/Discount to List
-$20,000
-4.21%
Current Estimated Value
$781,554

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$326,554
Avg. Annual Appreciation
9.93%
Original Mortgage
$455,000
Interest Rate
3.3%
Mortgage Type
New Conventional

Purchase Details

Listed on
Apr 7, 2020
Closed on
May 28, 2020
Sold by
Maxfield Melissa
Bought by
Maxfield Jonathan
Seller's Agent
Scott Trevey
REI Marketing
Buyer's Agent
Todd Pippin
My Home Group Real Estate
List Price
$475,000
Sold Price
$455,000
Premium/Discount to List
-$20,000
-4.21%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$455,000
Interest Rate
3.3%
Mortgage Type
New Conventional

Purchase Details

Listed on
Aug 29, 2018
Closed on
Oct 30, 2018
Sold by
Wahyudi Deddy
Bought by
Ali Giser Shakhawat and Akhter Sultana Rebeya
Seller's Agent
Arvle Knight
Transworld Business Advisors of Phoenix NE
Buyer's Agent
Noor Sarwar
DPR Realty LLC
List Price
$340,000
Sold Price
$351,000
Premium/Discount to List
$11,000
3.24%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
17.85%
Original Mortgage
$263,250
Interest Rate
4.6%
Mortgage Type
New Conventional

Purchase Details

Listed on
Mar 10, 2014
Closed on
May 27, 2014
Sold by
Lott David A and Lott Denise R
Bought by
Wahyudi Deddy
Seller's Agent
Lester Cox
Real Broker
Buyer's Agent
Rick Horst
Keller Williams Arizona Realty
List Price
$179,000
Sold Price
$182,600
Premium/Discount to List
$3,600
2.01%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
15.89%
Original Mortgage
$136,950
Interest Rate
4.23%
Mortgage Type
New Conventional

Purchase Details

Closed on
Oct 21, 2010
Sold by
Lott David A and Lott Denise R
Bought by
Lott David A and Lott Denise R

Purchase Details

Closed on
Jul 6, 2010
Sold by
Gmac Mortgage Llc
Bought by
Lott David S and Lott Denise R

Purchase Details

Closed on
Mar 29, 2010
Sold by
Caffrey Bryan
Bought by
Gmac Mortgage Llc and Gmac Mortgage Corporation

Purchase Details

Closed on
Apr 12, 2006
Sold by
Caffrey Kristin
Bought by
Caffrey Bryan

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$276,250
Interest Rate
6.2%
Mortgage Type
New Conventional

Purchase Details

Closed on
May 12, 2005
Sold by
Caffrey Bryan J
Bought by
Taylored Properties Taylored For You Llc and Taylor Sean W

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,197,000
Interest Rate
6.02%
Mortgage Type
New Conventional

Purchase Details

Closed on
May 10, 2005
Sold by
S & M Investment Properties Inc
Bought by
Caffrey Bryan J

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,197,000
Interest Rate
6.02%
Mortgage Type
New Conventional

Purchase Details

Closed on
Oct 10, 1994
Sold by
Mavity Michael D and Mavity Suzanne
Bought by
S & M Investment Properties Inc
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Type Sale Price Title Company
Warranty Deed $455,000 American Title Svc Agcy Llc
Interfamily Deed Transfer -- American Title Svc Agcy Llc
Warranty Deed $351,000 Clear Title Agency Of Arizon
Warranty Deed $182,600 Fidelity National Title Agen
Interfamily Deed Transfer -- None Available
Cash Sale Deed $105,100 Fidelity Natl Title Ins Co
Trustee Deed $93,451 Security Title Agency
Interfamily Deed Transfer -- North American Title Co
Warranty Deed $425,000 North American Title Co
Warranty Deed $1,500,000 First Financial Title Agency
Cash Sale Deed $1,260,000 First Financial Title Agency
Warranty Deed -- --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $75,000 Credit Line Revolving
Open $420,000 New Conventional
Closed $455,000 New Conventional
Previous Owner $263,250 New Conventional
Previous Owner $136,950 New Conventional
Previous Owner $276,250 New Conventional
Previous Owner $1,197,000 New Conventional
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/01/2020 06/01/20 Sold $455,000 -4.2% $145 / Sq Ft
05/25/2020 05/25/20 Price Changed $475,000 0.0% $151 / Sq Ft
04/17/2020 04/17/20 Pending -- -- --
04/07/2020 04/07/20 For Sale $475,000 +35.3% $151 / Sq Ft
11/02/2018 11/02/18 Sold $351,000 +3.2% $112 / Sq Ft
10/19/2018 10/19/18 For Sale $340,000 0.0% $108 / Sq Ft
10/19/2018 10/19/18 Price Changed $340,000 0.0% $108 / Sq Ft
08/29/2018 08/29/18 For Sale $340,000 +86.2% $108 / Sq Ft
05/30/2014 05/30/14 Sold $182,600 +2.0% $58 / Sq Ft
03/12/2014 03/12/14 Pending -- -- --
03/10/2014 03/10/14 For Sale $179,000 -- $57 / Sq Ft
Source: Arizona Regional Multiple Listing Service (ARMLS)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $1,542 $16,763 -- --
2024 $1,513 $15,965 -- --
2023 $1,513 $55,970 $11,190 $44,780
2022 $1,465 $39,750 $7,950 $31,800
2021 $1,506 $34,470 $6,890 $27,580
2020 $1,498 $31,210 $6,240 $24,970
2019 $1,445 $23,220 $4,640 $18,580
2018 $1,404 $21,770 $4,350 $17,420
2017 $1,319 $17,560 $3,510 $14,050
2016 $1,274 $15,250 $3,050 $12,200
2015 $1,221 $12,830 $2,560 $10,270
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5813059

Arizona Regional Multiple Listing Service (ARMLS)

APN: 303-02-157