$780,000
SOLD MAR 11, 2022
-- Bed
-- Bath
2,576 Sq Ft
8,015 Sq Ft Lot

Recently Sold

$303 Per Sq Ft

16% Above List Price

2 Days on Market

Highlights

  • Community Playground
  • Ceramic Tile Flooring
  • Heating Available
  • Chandler High School Rated A-
  • Central Air

About This Home

As of December 2022

Updated 4-plex in the heart of Chandler! No HOA. VALUE ADD! Below market rents that could be increased. All 2 bed, 1 bath. Fully rented with all documentation. Less than a mile from Chandler Downtown Historically District. 1 Story complex.
Fresh paint inside and out, virtually everything inside has been updated within the last 3-4 years. New kitchens, all 4 AC units, flooring, electrical and plumbing fixtures including valves, bathroom vanities, low maintenance landscaping, etc etc. This is turn key with tenants that have been there for years.
So great VALUE-ADD by increasing to market rents.

Exterior was redone with a private common area. Very clean and pride of ownership.

Last Agent to Sell the Property

Eric Ford

My Home Group Real Estate License #SA640295000 Listed on: 01/26/2022

My Home Group Real Estate

Last Buyer's Agent

Eric Ford

My Home Group Real Estate License #SA640295000 Listed on: 01/26/2022

My Home Group Real Estate

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,428

Year Built

  • Built in 1971

Home Design

  • Block Exterior

Flooring

  • Carpet
  • Ceramic Tile

Parking

  • 4 Open Parking Spaces
  • 4 Parking Spaces
  • On-Street Parking

Schools

  • Knox Gifted Academy Elementary School
  • John M Andersen Jr High Middle School
  • Chandler High School

Utilities

  • Central Air
  • Heating Available

Listing and Financial Details

  • The owner pays for trash collection, water, sewer, landscaping
  • Tax Lot 33
  • Assessor Parcel Number 302-73-033

Community Details

Overview

  • 4 Units
  • Building Dimensions are .18 acre
  • Olsen Addition Subdivision

Recreation

  • Community Playground

Building Details

  • Operating Expense $7,420
  • Gross Income $42,019
  • Net Operating Income $34,599

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,428

Year Built

Built in 1971

Lot Details

0

Listing Details

  • Cross Street: Arizona Ave and Ray
  • Legal Info Range: 5E
  • Property Type: Multiple Dwellings
  • Zoning: MF-2
  • Number Of Buildings: 1
  • Ownership: Fee Simple
  • Year Built: 1971
  • Tax Year: 2021
  • Directions: West on Ray, North on California
  • Road Surface Type: Asphalt
  • Subdivision Name: OLSEN ADDITION
  • Cooling:Central Air: Yes
  • Water Source City Franchise2: Yes
  • Community Features Play Area: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Carpet, Ceramic Tile
  • Appliances: Free-Standing Range, Refrigerator
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Refrigerator2: Yes

Exterior Features

  • Disclosures: None
  • Construction Type: Painted, Block
  • Roof: Rolled/Hot Mop
  • Construction:Block: Yes

Garage/Parking

  • Parking Features: On Street
  • Attached Garage: No
  • Open Parking Spaces: 4.0
  • Total Parking Spaces: 4.0
  • General Property Description:Uncvrd Parking Spcs: 4.0
  • General Property Description:Total Parking Spcs: 4.0
  • Parking Features Street Parking: Yes

Utilities

  • Electric: SRP
  • Cooling: Central Air, Electric
  • Heating: Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:Electric: Yes

Condo/Co-op/Association

  • Community Features: Play Area, No Pool

Association/Amenities

  • Exterior Amenities:Fenced3: Yes
  • Interior Amenities:Unfurnished: Yes

Fee Information

  • Trash Expense: 1217.48
  • Annual Water Sewer Expense: 764.03

Schools

  • Elementary School: Knox Gifted Academy
  • High School: Chandler High School
  • Junior High Dist: Chandler Unified District
  • Middle Or Junior School: John M Andersen Jr High School

Lot Info

  • Lot Size: .18 acre
  • Additional Parcels: No
  • Parcel #: 302-73-033

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer, Landscaping
  • Number Of Units Total: 4
  • Annual Gross Income: 42019.39
  • Insurance Expense: 1106.04
  • Property Net Operating Income: 34598.96
  • Annual Operating Expense: 7420.43

Tax Info

  • Tax Annual Amount: 1428.0
  • Tax Book Number: 302.00
  • Tax Lot: 33

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Sep 23, 2022
Closed on
Dec 9, 2022
Sold by
Grs Investment Company Llc
Bought by
Hatch Garred Ruben and Hatch Gil R
Seller's Agent
Jackson Everhart
Orion Investment Real Estate
Buyer's Agent
Jackson Everhart
Orion Investment Real Estate
List Price
$950,000
Sold Price
$930,000
Premium/Discount to List
-$20,000
-2.11%
Views
39
Current Estimated Value
$913,084

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$16,916
Avg. Annual Appreciation
0.75%
Original Mortgage
$703,950
Outstanding Balance
$686,713
Interest Rate
7.08%
Mortgage Type
New Conventional
Estimated Equity
$262,016

Purchase Details

Listed on
Jan 26, 2022
Closed on
Feb 1, 2022
Sold by
Lucky Old Sun Finance Llc
Bought by
Grs Investment Company Llc
Seller's Agent
Eric Ford
My Home Group Real Estate
Buyer's Agent
Eric Ford
My Home Group Real Estate
List Price
$675,000
Sold Price
$780,000
Premium/Discount to List
$105,000
15.56%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
26.43%
Original Mortgage
$585,000
Interest Rate
3.92%
Mortgage Type
New Conventional

Purchase Details

Listed on
Oct 27, 2015
Closed on
Nov 10, 2015
Sold by
Salgado Florencio and Ortiz De Salgado Yolanda
Bought by
Lucky Old Sun Finance Llc
Seller's Agent
Maria Saunders
1st USA Realty Professionals
Buyer's Agent
Eric Ford
My Home Group Real Estate
List Price
$288,000
Sold Price
$235,000
Premium/Discount to List
-$53,000
-18.4%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
20.87%

Purchase Details

Closed on
Feb 27, 2003
Sold by
Salgado Senen D and Salgado Zenen D
Bought by
Salgado Florencio and Desalgado Yolanda Ortiz

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$167,000
Interest Rate
5.93%

Purchase Details

Closed on
Feb 18, 2000
Sold by
Clarke Carlton H
Bought by
Salgado Senen D and Salgado Florencio

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$160,890
Interest Rate
8.14%
Mortgage Type
FHA

Purchase Details

Closed on
Aug 31, 1999
Sold by
California Venture Ltd Partnership
Bought by
Clarke Carlton H

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$105,750
Interest Rate
7.87%
Mortgage Type
New Conventional
Source: Public Records

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Range of Values:

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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 $938,600 American Title Services
Warranty Deed $780,000 Magnus Title
Warranty Deed $780,000 Magnus Title
Cash Sale Deed $235,000 Driggs Title Agency Inc
Interfamily Deed Transfer -- Land Title Agency Of Az Inc
Joint Tenancy Deed $162,000 First American Title
Warranty Deed $117,500 Lawyers Title Of Arizona Inc
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $703,950 New Conventional
Previous Owner $585,000 New Conventional
Previous Owner $167,000 No Value Available
Previous Owner $160,890 FHA
Previous Owner $105,750 New Conventional
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/09/2022 12/09/22 Sold $930,000 -2.1% $361 / Sq Ft
09/23/2022 09/23/22 For Sale $950,000 +21.8% $369 / Sq Ft
03/11/2022 03/11/22 Sold $780,000 +7.6% $303 / Sq Ft
01/28/2022 01/28/22 Pending -- -- --
01/27/2022 01/27/22 Price Changed $725,000 +7.4% $281 / Sq Ft
01/26/2022 01/26/22 For Sale $675,000 +187.2% $262 / Sq Ft
11/12/2015 11/12/15 Sold $235,000 -18.4% $91 / Sq Ft
10/29/2015 10/29/15 Pending -- -- --
10/27/2015 10/27/15 For Sale $288,000 -- $112 / 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 $1,463 $15,898 -- --
2024 $1,435 $15,141 -- --
2023 $1,435 $41,000 $8,200 $32,800
2022 $1,389 $32,380 $6,470 $25,910
2021 $1,428 $28,580 $5,710 $22,870
2020 $1,420 $27,130 $5,420 $21,710
2019 $1,370 $21,550 $4,310 $17,240
2018 $1,331 $18,150 $3,630 $14,520
2017 $1,251 $17,850 $3,570 $14,280
2016 $1,208 $15,500 $3,100 $12,400
2015 $1,158 $14,600 $2,920 $11,680
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6347212

Arizona Regional Multiple Listing Service (ARMLS)

APN: 302-73-033