NOT LISTED FOR SALE
-- Bed
-- Bath
-- Sq Ft
2016 Built

Last Sold June 30, 2023

Last sale price $8,670,000

Highlights

  • Cooling Available
  • Resident Manager or Management On Site
  • Heat Pump System
  • Andersen Elementary School Rated A-

About This Home

As of June 2023

The Monica Apartments is a tranquil community situated in Chandler, Arizona. All apartment homes are 2 Bedrooms and 1 Bath to offer maximum comfort and convenience. Fully renovated units include tile flooring throughout, new cabinets and new kitchen appliances. Furthermore, the apartments feature private fenced yards, ceiling fans and plenty of storage space. Residents can enjoy easy access to downtown Chandler's restaurants, shopping, and entertainment hotspots, with the 101 and 202 freeways nearby. The community's location provides easy commute options for residents who need to travel around the Phoenix area, and you will be pleased to know that we are pet friendly and welcome your furry friend. Schedule your tour of The Monica Apartments today and see for yourself!

Last Agent to Sell the Property

Garrett Hemeyer

Orion Investment Real Estate License #SA684184000 Listed on: 03/20/2023

Co-Listed By

Colt Siler

Orion Investment Real Estate License #SA691810000

Last Buyer's Agent

Garrett Hemeyer

Orion Investment Real Estate License #SA684184000 Listed on: 03/20/2023

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $14,869

Year Built

  • Built in 2016

Home Design

  • Brick Exterior Construction
  • Wood Frame Construction
  • Composition Roof

Parking

  • 26 Open Parking Spaces
  • 65 Parking Spaces
  • 39 Covered Spaces
  • Assigned Parking

Utilities

  • Cooling Available
  • Heat Pump System

Listing and Financial Details

  • Tenant pays for water
  • The owner pays for trash collection, sewer, landscaping
  • Assessor Parcel Number 302-43-005-B

Community Details

Overview

  • 10 Buildings
  • 34 Units
  • Building Dimensions are Normal

Building Details

  • Operating Expense $139,063
  • Gross Income $256,156
  • Net Operating Income $64,113

Security

  • Resident Manager or Management On Site

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$14,869

Year Built

Built in 2016

Lot Details

0

Listing Details

  • Legal Info Range: 5E
  • Property Type: Multiple Dwellings
  • Zoning: MF-3
  • Number Of Buildings: 10
  • Year Built: 2016
  • Tax Year: 2022
  • Road Surface Type: Asphalt
  • Co List Office Mls Id: mlso106
  • Co List Office Phone: 480-634-6934
  • Tax Parcel Letter: B
  • Construction Brick: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

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

Exterior Features

  • Disclosures: Boundary Survey Avlb, ALTA Survey Availbl
  • Construction Type: Brick Veneer, Painted, Brick, Frame - Wood
  • Roof: Composition
  • Construction:Frame - Wood: Yes

Garage/Parking

  • Total Covered Spaces: 39.0
  • Parking Features: Assigned
  • Attached Garage: No
  • Open Parking Spaces: 26.0
  • Total Parking Spaces: 65.0
  • General Property Description:Covered Parking Spcs: 39.0
  • General Property Description:Uncvrd Parking Spcs: 26.0
  • General Property Description:Total Parking Spcs: 65.0
  • Parking:Free: Yes
  • Parking:_greater_1 Space Per Unit: Yes
  • Parking:Paved Parking: Yes
  • Parking:Add_squote_l Parking Avail: Yes
  • Parking:Assigned: Yes

Utilities

  • Electric: SRP
  • Cooling: Individual
  • Heating: Heat Pump, Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise, Individual Meter
  • Heating:Electric: Yes
  • Heating:Heat Pump2: Yes

Condo/Co-op/Association

  • Community Features: Manager Res/Office, No Pool

Association/Amenities

  • Exterior Amenities:PatioBalcony: Yes
  • Interior Amenities:FireSmoke Alarm(s): Yes
  • Community Amenities:No Pool: Yes
  • Interior Amenities:Unfurnished: Yes
  • Community Amenities:Manager ResOffice: Yes

Fee Information

  • Trash Expense: 6176.0
  • Annual Water Sewer Expense: 7744.0

Lot Info

  • Lot Size: Normal
  • Additional Parcels: No
  • Parcel #: 302-43-005-B

Multi Family

  • Owner Pays: Trash Collection, Sewer, Landscaping
  • Tenant Pays: Water
  • Number Of Units Total: 34
  • Electric Expense: 10294.0
  • Annual Gross Income: 256156.1
  • Maintenance Expense: 94000.0
  • Property Net Operating Income: 64113.0
  • Annual Operating Expense: 139063.0
  • Vacancy Allowance Rate: 0.05

Tax Info

  • Tax Annual Amount: 14869.0
  • Tax Book Number: 302.00
  • Tax Lot: -

Range of Values:

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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
11/24/2023 11/24/23 Price Changed $1,695 0.0% $2 / Sq Ft
09/20/2023 09/20/23 Price Changed $1,695 +6.3% $2 / Sq Ft
07/10/2023 07/10/23 Price Changed $1,595 +59.5% $2 / Sq Ft
07/01/2023 07/01/23 For Rent $1,000 0.0% --
06/30/2023 06/30/23 Sold $8,670,000 -8.7% --
04/19/2023 04/19/23 For Sale $9,500,000 -- --
Source: Arizona Regional Multiple Listing Service (ARMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6546181

Arizona Regional Multiple Listing Service (ARMLS)