NOT LISTED FOR SALE
10 Beds
6 Baths
892 Sq Ft
1951 Built

Last Sold June 15, 2018

Last sale price $475,000 $533 Per Sq Ft

167 Days on Market

Highlights

  • Evaporated cooling system
  • Chandler Traditional Academy-Humphrey Rated A
  • Multiple Heating Units

About This Home

As of June 2018

VALUE-ADD multi family property RIGHT ON CHANDLER BLVD in Chandler. Get cash flow while waiting to develop or improve the units and increase existing cash flow. Lots of potential!

6 Units and 4 mobile home pads. Mobile home pads are individually metered for electric. Super low taxes $1658 for 2017, AG (agricultural) zoned. Great location! Current rents:
$600 for (4) 2BD/1BA * $500 for (2) 1BD/BA * $400 for (4) Mobile Home Pads. Walk into cashflow and loads of potential today on this property.

Last Agent to Sell the Property

Patrick O'Sullivan

Get Multifamily License #BR634211000 Listed on: 10/28/2017

Last Buyer's Agent

Patrick O'Sullivan

Get Multifamily License #BR634211000 Listed on: 10/28/2017

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,658

Year Built

  • Built in 1951

Home Design

  • Composition Roof
  • Foam Roof
  • Block Exterior

Parking

  • 6 Open Parking Spaces
  • 6 Parking Spaces

Schools

  • Chandler Traditional Academy - Humphrey Elementary School
  • Willis Junior High School
  • Chandler High School

Utilities

  • Evaporated cooling system
  • Multiple cooling system units
  • Cooling System Mounted To A Wall/Window
  • Multiple Heating Units
  • Heating System Uses Natural Gas
  • Master Water Meter
  • Septic Tank

Listing and Financial Details

  • The owner pays for trash collection, water, landscaping
  • Tax Lot Lot
  • Assessor Parcel Number 303-01-011-B

Community Details

Overview

  • 2 Buildings
  • 10 Units
  • Building Dimensions are 100x350 APPROXIMATE not measured
  • Pt Ne4 Ne4 Sec 36 Beg 1056F W Of Ne Cor Sd Sec Th W 258.52F To Nw Cor Ne4 Ne4 Th S 180F E 258.52F To Subdivision

Building Details

  • Operating Expense $25,145
  • Gross Income $55,860
  • Net Operating Income $30,715

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,658

Year Built

Built in 1951

Lot Details

0

Listing Details

  • Cross Street: Chandler Blvd and Gilbert Rd
  • Legal Info Range: 5E
  • Property Type: Multiple Dwellings
  • Zoning: AG
  • Number Of Buildings: 2
  • Year Built: 1951
  • Average Rent Single Wide: 400.0
  • Mobile Home Prk Info Total Number Spaces: 4
  • Tax Year: 2017
  • Road Surface Type: Gravel, Dirt, Private Street
  • Professional Management Expense: 5586.0
  • Subdivision Name: PT NE4 NE4 SEC 36 BEG 1056F W OF NE COR SD SEC TH W 258.52F TO NW COR NE4 NE4 TH S 180F E 258.52F TO
  • Tax Parcel Letter: B
  • Special Features: VirtualTour
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Other
  • Appliances Included:Refrigerator: Yes
  • Appliances Included:BI OvenRange: Yes

Exterior Features

  • Disclosures: None, Other (See Remarks)
  • Construction Type: Painted, Block
  • Roof: Composition, Foam, Rolled/Hot Mop
  • Construction:Block: Yes

Garage/Parking

  • Open Parking Spaces: 6.0
  • Total Parking Spaces: 6.0
  • General Property Description:Uncvrd Parking Spcs: 6.0
  • General Property Description:Total Parking Spcs: 6.0
  • Parking:Free: Yes
  • Parking:_greater_1 Space Per Unit: Yes

Utilities

  • Electric: Master Meter, Individual Meter
  • Cooling: 2 or More Units, Individual, Evaporative Cooling, Wall/Window Unit(s)
  • Heating: 2 or More Units, Electric, Natural Gas
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise, Master Meter
  • Heating:Natural Gas: Yes
  • Heating:Electric: Yes
  • Sewer Septic Tank: Yes
  • Heating:_two_ or More Units3: Yes
  • Electric Master Meter: Yes

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Exterior Amenities:Cable TV Available: Yes
  • Community Amenities:No Pool: Yes
  • Interior Amenities:Unfurnished: Yes

Fee Information

  • Annual Fuel Expense: 1275.0
  • Trash Expense: 3516.0
  • Annual Water Sewer Expense: 921.0

Schools

  • Elementary School: Chandler Traditional Academy - Humphrey
  • High School: Chandler High School
  • Middle Or Junior School: Willis Junior High School

Lot Info

  • Lot Size: 100x350 APPROXIMATE not measured
  • Additional Parcels: No
  • Parcel #: 303-01-011-B

Multi Family

  • Owner Pays: Trash Collection, Water, Landscaping
  • Number Of Units Total: 10
  • Electric Expense: 4807.0
  • Annual Gross Income: 55860.0
  • Insurance Expense: 2144.0
  • Maintenance Expense: 3000.0
  • Property Net Operating Income: 30715.0
  • Annual Operating Expense: 25145.0
  • Vacancy Allowance Rate: 0.05

Tax Info

  • Tax Annual Amount: 1658.0
  • Tax Book Number: 303.00
  • Tax Lot: Lot
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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 List to Sale Price per Sq Ft
06/15/2018 06/15/18 Sold $475,000 -5.0% $533 / Sq Ft
06/01/2018 06/01/18 Price Changed $500,000 0.0% $561 / Sq Ft
05/16/2018 05/16/18 Price Changed $500,000 0.0% $561 / Sq Ft
04/13/2018 04/13/18 Pending -- -- --
03/09/2018 03/09/18 Price Changed $500,000 +11.1% $561 / Sq Ft
03/08/2018 03/08/18 Price Changed $450,000 -10.0% $504 / Sq Ft
02/16/2018 02/16/18 Price Changed $500,000 +11.1% $561 / Sq Ft
12/12/2017 12/12/17 Price Changed $450,000 -5.3% $504 / Sq Ft
11/16/2017 11/16/17 Price Changed $475,000 -4.0% $533 / Sq Ft
10/28/2017 10/28/17 For Sale $495,000 -- $555 / 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 $1,970 $21,071 -- --
2024 $1,902 $20,068 -- --
2023 $1,902 $51,500 $35,330 $16,170
2022 $1,842 $38,300 $23,450 $14,850
2021 $1,893 $37,990 $23,450 $14,540
2020 $1,882 $37,770 $23,160 $14,610
2019 $1,816 $36,920 $22,870 $14,050
2018 $1,765 $29,440 $15,200 $14,240
2017 $1,658 $34,410 $15,200 $19,210
2016 $1,601 $35,770 $16,000 $19,770
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5680492

Arizona Regional Multiple Listing Service (ARMLS)