NOT LISTED FOR SALE

185 W Morelos St Chandler, AZ 85225

Downtown Chandler Neighborhood
13 Beds
12 Baths
1,430 Sq Ft
1933 Built

Last Sold March 09, 2018

Last sale price $640,000 $448 Per Sq Ft

240 Days on Market

Highlights

  • Evaporated cooling system
  • Bogle Junior High School Rated A
  • Heating System Uses Natural Gas

About This Home

As of March 2018

High demand area, low vacancy, fast/easy to rent, and all units leased! Strong tenant appeal since utilities are incl’d. Avg rent is $650/unit, most are month to month---gives landlord ability to modify any lease terms w/30d.notice. Recent facelift of building includes new exterior paint, roof stripped to wood & replaced in 2015 w/Owens Corning Oakridge asphalt shingles. Laundry rm in the courtyard with coin-op machines provides addt’l monthly revenue (see other income). Security cameras and DVR included, pre-wired for addt’l security cameras. Evap cooling & gas heating keeps utility costs low. Close to downtown Chandler, shopping & major freeways. Existing property mgr and maintenance man live on site and handle all routine matters.Competitive CAP rate compared to similar properties.

Last Agent to Sell the Property

Brett Tanner

Keller Williams Realty Phoenix License #SA564356000 Listed on: 03/15/2017

Keller Williams Realty Phoenix

Co-Listed By

Sabrina Song

Keller Williams Realty Phoenix License #SA632624000

Last Buyer's Agent

Non-MLS Agent

Non-MLS Office

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,777

Year Built

  • Built in 1933

Lot Details

  • Additional Parcels

Home Design

  • Composition Roof
  • Block Exterior
  • Stucco

Parking

  • 18 Open Parking Spaces
  • 18 Parking Spaces

Utilities

  • Evaporated cooling system
  • Heating System Uses Natural Gas
  • Individual Controls for Heating
  • Master Water Meter

Listing and Financial Details

  • Tenant pays for cable TV
  • The owner pays for trash collection, water, sewer, landscaping
  • Tax Lot 7
  • Assessor Parcel Number 303-62-085

Community Details

Overview

  • 3 Buildings
  • 12 Units
  • Building Dimensions are 104X150
  • Chieftain Village 3 Subdivision

Building Details

  • Operating Expense $40,337
  • Gross Income $43,740
  • Net Operating Income $52,020

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,777

Year Built

Built in 1933

Lot Details

0

Listing Details

  • Cross Street: Arizona Ave & Pecos
  • Legal Info Range: 5E
  • Property Type: Multiple Dwellings
  • Zoning: MH
  • Number Of Buildings: 3
  • Year Built: 1933
  • Tax Year: 2016
  • Directions: Head West on Pecos, turn Right on Palm Ln to property on your right hand side.
  • Road Surface Type: Asphalt, Curb(s) & Gutter(s), Sidewalk(s), Alley
  • Professional Management Expense: 6060.0
  • Co List Office Mls Id: kwrp002
  • Co List Office Phone: 602-635-1953
  • Subdivision Name: CHIEFTAIN VILLAGE 3
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Refrigerator: Yes
  • Appliances Included:None38: Yes

Exterior Features

  • Disclosures: Seller Prop Disc Stm
  • Construction Type: Painted, Stucco, Block
  • Roof: Composition
  • Construction:Block: Yes

Garage/Parking

  • Open Parking Spaces: 18.0
  • Total Parking Spaces: 18.0
  • General Property Description:Uncvrd Parking Spcs: 18.0
  • General Property Description:Total Parking Spcs: 18.0
  • Parking:Paved Parking: Yes
  • Parking:_one_ SpaceUnit: Yes

Utilities

  • Electric: APS, Master Meter
  • Cooling: Individual, Evaporative Cooling
  • Heating: Individual, Natural Gas
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise, Master Meter
  • Heating:Natural Gas: Yes
  • Heating:Individual: Yes
  • Electric Master Meter: Yes

Condo/Co-op/Association

  • Community Features: No Pool
  • Amenities: None

Association/Amenities

  • Exterior Amenities:Landscape Wtr System: Yes
  • Exterior Amenities:Fenced3: Yes
  • Exterior Amenities:Cable TV Available: Yes
  • Exterior Amenities:Security Light(s)3: Yes
  • Interior Amenities:FireSmoke Alarm(s): Yes
  • Community Amenities:No Pool: Yes
  • Exterior Amenities:Desert Landscaping: Yes
  • Interior Amenities:Unfurnished: Yes
  • Interior Amenities:Vertical Blinds2: Yes
  • Exterior Amenities:Pet Restrictions: Yes

Fee Information

  • Annual Fuel Expense: 6000.0
  • Trash Expense: 2004.0
  • Annual Water Sewer Expense: 2400.0

Schools

  • Elementary School: Other
  • High School: Other
  • Middle Or Junior School: Other

Lot Info

  • Lot Size: 104X150
  • Additional Parcels: Yes
  • Parcel #: 303-62-085

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer, Landscaping
  • Tenant Pays: Cable TV
  • Number Of Units Total: 12
  • Electric Expense: 9600.0
  • Annual Gross Income: 43740.0
  • Insurance Expense: 2556.0
  • Maintenance Expense: 6000.0
  • Property Net Operating Income: 52020.0
  • Annual Operating Expense: 40337.04
  • Vacancy Allowance Rate: 0.5

Tax Info

  • Tax Annual Amount: 2777.04
  • Tax Book Number: 303.00
  • Tax Lot: 7

Range of Values:

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List Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
03/09/2018 03/09/18 Sold $640,000 -1.5% $448 / Sq Ft
09/26/2017 09/26/17 Price Changed $650,000 +4.0% $455 / Sq Ft
03/15/2017 03/15/17 For Sale $625,000 -- $437 / Sq Ft
Source: Arizona Regional Multiple Listing Service (ARMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Brett Tanner

    Seller's Agent in 2018

    Brett Tanner

    Keller Williams Realty Phoenix

    (623) 688-1710

    1 in this area

    579 Total Sales

    Brett Tanner
    Section Image

  • S

    Seller Co-Listing Agent in 2018

    Sabrina Song

    Keller Williams Realty Phoenix

    (480) 768-9333

    21 Total Sales

    Sabrina Song
    Section Image

  • N

    Buyer's Agent in 2018

    Non-MLS Agent

    Non-MLS Office

See All Agents

Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5575453

Arizona Regional Multiple Listing Service (ARMLS)
Arizona Maricopa County Chandler 85225 Downtown Chandler

185 W Morelos St, Chandler, AZ

This home is located at 185 W Morelos St, Chandler, AZ 85225 since 15 March 2017. This property was built in 1933. 185 W Morelos St is a home located in Maricopa County with nearby schools including San Marcos Elementary School, Bogle Junior High School, and Champion Schools Chandler.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Arizona Regional Multiple Listing Service (ARMLS) All information should be verified by the recipient and none is guaranteed as accurate by ARMLS

Listing Information presented by local MLS brokerage: Ten-X, local REALTOR®- Arlene Richardson - (888)-952-6393

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