$460,000
SOLD DEC 12, 2024

581 N Colorado St Chandler, AZ 85225

North Chandler Neighborhood
-- Bed
-- Bath
1,561 Sq Ft
7,492 Sq Ft Lot

Recently Sold

$295 Per Sq Ft

1% Below List Price

26 Days on Market

Highlights

  • RV or Boat Parking
  • Cooling System Mounted To A Wall/Window
  • Heating System Uses Natural Gas
  • Chandler High School Rated A-
  • Ceramic Tile Flooring

About This Home

As of December 2024

This triplex in Chandler is the perfect investment opportunity with a cumulative rental income of $4,030/month. The property consists of three units, each currently occupied by long-term tenants on month-to-month leases.

Situated just minutes from Downtown Chandler, the area offers convenient access to shopping, dining, and entertainment. Buyers are encouraged to verify all facts, including rental income, lease agreements, and zoning information. With consistent cash flow and potential for appreciation, this triplex is an excellent option for investors looking to expand their portfolio.

Last Agent to Sell the Property

Britney Galvan

UMe Realty Group License #SA712821000 Listed on: 10/09/2024

Co-Listed By

Andrew Kallien

UMe Realty Group License #SA706112000

Last Buyer's Agent

Paul Mosley

Epique Realty License #SA672232000

Epique Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $756

Year Built

  • Built in 1951

Home Design

  • Wood Frame Construction
  • Composition Roof
  • Stucco

Flooring

  • Carpet
  • Ceramic Tile

Parking

  • 10 Open Parking Spaces
  • 10 Parking Spaces
  • Free Parking
  • On-Street Parking
  • RV or Boat Parking

Schools

  • Hartford Sylvia Encinas Elementary School
  • John M Andersen Jr High Middle School
  • Chandler High School

Utilities

  • Cooling System Mounted To A Wall/Window
  • Heating System Uses Natural Gas

Listing and Financial Details

  • Tenant pays for electricity
  • The owner pays for gas, trash collection, water, sewer
  • Tax Lot 3
  • Assessor Parcel Number 302-64-094

Community Details

Overview

  • 2 Buildings
  • 3 Units
  • Building Dimensions are 0.172 acres / 7,510 sqf
  • Greater Chandler Add Blk 8 & 9 Subdivision

Building Details

  • Operating Expense $756
  • Gross Income $48,360
  • Net Operating Income $47,604

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$756

Year Built

Built in 1951

Lot Details

0

Listing Details

  • Cross Street: Chandler Blvd & Arizona Avenue
  • Legal Info Range: 5E
  • Property Type: Multiple Dwellings
  • Zoning: R-8.5
  • Number Of Buildings: 2
  • Ownership: Fee Simple
  • Year Built: 1951
  • Tax Year: 2023
  • Directions: North to Arizona Avenue, east on Galveston, South on Colorado
  • Road Surface Type: Asphalt, Sidewalk(s)
  • Co List Office Mls Id: umre001
  • Co List Office Phone: 602-920-5166
  • Subdivision Name: GREATER CHANDLER ADD BLK 8 & 9
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Carpet, Ceramic Tile
  • Appliances: F/S Oven/Range
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Refrigerator2: Yes

Exterior Features

  • Disclosures: None
  • Construction Type: Stucco, Frame - Wood
  • Roof: Composition
  • Construction:Frame - Wood: Yes

Garage/Parking

  • Parking Features: Free, RV/Boat Parking, Street Parking
  • Attached Garage: No
  • Open Parking Spaces: 10.0
  • Total Parking Spaces: 10.0
  • General Property Description:Uncvrd Parking Spcs: 10.0
  • General Property Description:Total Parking Spcs: 10.0
  • Parking:Free: Yes
  • Parking:Street Parking: Yes
  • Parking:RVBoat Parking2: Yes

Utilities

  • Electric: APS
  • Cooling: Electric, Wall/Window Unit(s)
  • Heating: Natural Gas
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:Natural Gas: Yes

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Interior Amenities:FireSmoke Alarm(s): Yes
  • Community Amenities:No Pool: Yes
  • Exterior Amenities:Desert Landscaping: Yes
  • Interior Amenities:Unfurnished: Yes

Schools

  • Elementary School: Hartford Sylvia Encinas Elementary
  • 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: 0.172 acres / 7,510 sqf
  • Additional Parcels: No
  • Parcel #: 302-64-094

Multi Family

  • Owner Pays: Gas, Trash Collection, Water, Sewer
  • Tenant Pays: Electricity
  • Number Of Units Total: 3
  • Annual Gross Income: 48360.0
  • Property Net Operating Income: 47604.0
  • Annual Operating Expense: 756.0

Tax Info

  • Tax Annual Amount: 756.0
  • Tax Book Number: 302.00
  • Tax Lot: 3

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 9, 2024
Closed on
Dec 13, 2024
Sold by
Rodriguez Jason
Bought by
Murphy Properties Az Llc
Seller's Agent
Britney Galvan
UMe Realty Group
Buyer's Agent
Paul Mosley
Epique Realty
List Price
$465,000
Sold Price
$460,000
Premium/Discount to List
-$5,000
-1.08%
Views
13
Current Estimated Value
$449,794

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$10,206
Avg. Annual Appreciation
-6.00%

Purchase Details

Closed on
Nov 8, 2023
Sold by
Blackburn William
Bought by
Rodriguez Jason

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$368,000
Interest Rate
7.31%
Mortgage Type
New Conventional

Purchase Details

Listed on
May 4, 2022
Closed on
Jun 24, 2022
Sold by
Nisor Llc
Bought by
Blackburn William and Rodriguez Jason
Seller's Agent
Parker Weinthal
eXp Realty
Buyer's Agent
Parker Weinthal
eXp Realty
List Price
$599,000
Sold Price
$485,000
Premium/Discount to List
-$114,000
-19.03%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
-3.07%
Original Mortgage
$388,000
Interest Rate
5.25%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jan 24, 2020
Sold by
Alardin Carlos
Bought by
Nisor Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$174,100
Interest Rate
3.73%
Mortgage Type
Commercial

Purchase Details

Closed on
Apr 4, 2005
Sold by
Brion Ricardo and Brion Dolores Castro
Bought by
Alardin Carlos and Ozaeta Carlos Alardin

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$136,000
Interest Rate
6.89%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Dec 30, 2003
Sold by
Pena Adriana Hernandez
Bought by
Brion Ricardo and Brion Dolores Castro

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$138,500
Interest Rate
6.02%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
May 25, 1994
Sold by
Sullivan Dawn L and Jackson Dawn L
Bought by
Pena Adriana Hernandez

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$53,200
Interest Rate
8.83%
Mortgage Type
New Conventional
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 $440,000 Pinnacle Title Services
Warranty Deed $440,000 Pinnacle Title Services
Warranty Deed -- --
Warranty Deed $485,000 Magnus Title
Special Warranty Deed $190,000 Fidelity Natl Ttl Agcy Inc
Warranty Deed $167,500 Capital Title Agency Inc
Warranty Deed -- Transnation Title Ins Co
Warranty Deed $56,000 Security Title Agency
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Previous Owner $368,000 New Conventional
Previous Owner $388,000 New Conventional
Previous Owner $174,100 Commercial
Previous Owner $136,000 Purchase Money Mortgage
Previous Owner $138,500 Purchase Money Mortgage
Previous Owner $53,200 New Conventional
Closed $34,000 No Value Available
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/12/2024 12/12/24 Sold $460,000 -1.1% $295 / Sq Ft
11/27/2024 11/27/24 Price Changed $465,000 0.0% $298 / Sq Ft
11/04/2024 11/04/24 Pending -- -- --
10/30/2024 10/30/24 For Sale $465,000 0.0% $298 / Sq Ft
10/18/2024 10/18/24 Pending -- -- --
10/17/2024 10/17/24 For Sale $465,000 0.0% $298 / Sq Ft
10/15/2024 10/15/24 Pending -- -- --
10/12/2024 10/12/24 For Sale $465,000 0.0% $298 / Sq Ft
10/10/2024 10/10/24 Pending -- -- --
10/09/2024 10/09/24 For Sale $465,000 -4.1% $298 / Sq Ft
06/30/2022 06/30/22 Sold $485,000 -7.6% $311 / Sq Ft
06/03/2022 06/03/22 Price Changed $525,000 -4.5% $336 / Sq Ft
05/14/2022 05/14/22 Price Changed $550,000 -8.2% $352 / Sq Ft
04/18/2022 04/18/22 For Sale $599,000 -- $384 / 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 $770 $8,372 -- --
2024 $756 $7,973 -- --
2023 $756 $31,730 $6,340 $25,390
2022 $608 $22,700 $4,540 $18,160
2021 $637 $20,910 $4,180 $16,730
2020 $634 $15,770 $3,150 $12,620
2019 $610 $12,950 $2,590 $10,360
2018 $591 $11,850 $2,370 $9,480
2017 $551 $10,450 $2,090 $8,360
2016 $530 $8,650 $1,730 $6,920
2015 $514 $6,800 $1,360 $5,440
Source: Public Records

Agents Affiliated with this Home

  • B

    Seller's Agent in 2024

    Britney Galvan

    UMe Realty Group

    (818) 398-0602

    1 in this area

    14 Total Sales

    Britney Galvan
    Section Image

  • A

    Seller Co-Listing Agent in 2024

    Andrew Kallien

    UMe Realty Group

    (503) 705-9350

    1 in this area

    26 Total Sales

    Andrew Kallien
    Section Image
  • Paul Mosley

    Buyer's Agent in 2024

    Paul Mosley

    Epique Realty

    (928) 208-8129

    1 in this area

    191 Total Sales

    Paul Mosley
    Section Image
  • Parker Weinthal

    Seller's Agent in 2022

    Parker Weinthal

    eXp Realty

    (480) 447-1574

    1 in this area

    103 Total Sales

    Parker Weinthal
    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6768954

Arizona Regional Multiple Listing Service (ARMLS)

APN: 302-64-094

Arizona Maricopa County Chandler 85225 North Chandler

581 N Colorado St, Chandler, AZ

This home is located at 581 N Colorado St, Chandler, AZ 85225 and is currently priced at $460,000, approximately $294 per square foot. This property was built in 1951. 581 N Colorado St is a home located in Maricopa County with nearby schools including Galveston Elementary School, Chandler High School, and Willis Junior High School.

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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