$220,000
Chandler, AZ 85225
MLS# 5528683
Status: Closed
1 / 13
Property Description
Great investment opportunity, fully occupied, cash flowing 4 Plex in the heart of Downtown Chandler. 2 of the tenants have been there for 1.5 and 3 years but now month to month. The other 2 tenants were just secured in September and signed 1 year leases. This is a great investment opportunity in the up and coming downtown area with a lot of re gentrification already in process. Rental rates are below market, opportunity to increase CAP rate and property value.
Details
Maps
Contract Info
Ownership: Fee Simple
Current Price: $220,000
Sold Price: $220,000
Status: Closed
List Date: 2016-11-23
Location, Tax & Legal
Assessor's Map #: 17
Legal Description (Abbrev): WINNS ADD
Assessor's Parcel #: 137
Add'l Parcels: No
Tax Municipality: Maricopa - COUNTY
Census Tract: 523102
Taxes: 1008
Legal: WINNS ADD
Marketing Name: Great Investment Opp
Map Code/Grid: T38
House Number: 209
Compass: E
Street Name: MORELOS
St Suffix: Street
City/Town Code: Chandler
State/Province: AZ
Zip Code: 85225
Zip4: 6367
County Code: Maricopa
Assessor Number: 303-17-137
Tax Year: 2016
General Property Description
# of Buildings: 1
Uncvrd Parking Spcs: 4
Lot Size Dimensions: 49.50 x 141.51
Total # of Units: 4
Elementary School District: Chandler Unified District
High School District: Chandler Unified District
Elementary School: Frye Elementary School
Jr. High School: Willis Junior High School
High School: Chandler High School
Year Built: 1974
Zoning: MULIT-FAMILY
Legal Info
Range: 5E
Section: 34
Township: 1S
Lot Number: 97
Project Type
Four Plex: 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Composition: 1
Built-Up: 1
Floors
Ceramic Tile: 1
Carpet: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Elec Exp: 440.28
Annual Gas Exp: 0
Annual Ins Exp: 1272.48
Annual Land Lse Exp: 0
Annual Landscape Exp: 1200
Annual Legal & Acctg: 0
Annual Maint Exp: 0
Annual Mgmt Exp: 0
Annual Trash Exp: 1409.88
Annual Wtr/Swr Exp: 679.2
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Operating Exp: 6009.84
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 0
Total Monthly Rental Income: 1700
Pmt & Rate Info
Cap Rate: 5.76
Down Payment: 0
Equity: 250000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0
Community Features
No Pool: 1
Heating
Natural Gas: 1
Individual: 1
2 or More Units: 1
Cooling
Ceiling Fan(s): 1
Central Air: 1
2 or More Units: 1
Exterior Amenities
Partially Fenced: 1
Cable TV Available: 1
Security Light(s): 1
Tenant Pays
Gas: 1
Electricity: 1
Cable TV: 1
Other (See Remarks): 1
Appliances Included
Refrigerator: 1
Free-Standing Range: 1
Other: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Master Meter: 1
Sewer
Sewer - Public: 1
Parking Features
1 Space/Unit: 1
Electric
SRP: 1
Master Meter: 1
Individual Meter: 1
Gas
SW Gas: 1
Individual Meter: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
Landscaping: 1
Other: 1
See Remarks: 1
New Financing
VA: 1
Conventional: 1
Existing 1st Loan
Treat as Free&Clear: 1
Existing 1st Loan Type
Not Applicable: 1
Existing 1st Loan Terms
Not Applicable: 1
Existing 2nd Loan
Treat as Free&Clear: 1
Other (See Remarks): 1
Existing 2nd Loan Type
Not Applicable: 1
Existing 2nd Loan Terms
Not Applicable: 1
Existing 3rd Loan
Treat as Free&Clear: 1
Existing 3rd Loan Type
Not Applicable: 1
Reports/Disclosures
Seller Prop Disc Stm: 1
Existing 3rd Loan Terms
Not Applicable: 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
# 2 Bedroom Units: 4
Avg Rent: 425
Avg SqFt: 600
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Conventional
Loan Years: 30
Closing Cost Split: Normal - N
Payment Type: Fixed
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 0
Seller Concession $/%: $
Remarks Misc
Cross Street: PECOS AND ARIZONA AVENUE
Directions: North on Pecos, East on Morelos
Geo Lat: 33.293639
Geo Lon: -111.838135
Status Change Info
Off Market Date: 2017-01-06
Under Contract Date: 2016-12-08
Close of Escrow Date: 2017-01-05
Sold Price: $220,000
Income Expenses
Net Operating Income: 14390.16
Property Features
Project Type: Four Plex
Construction: Block
Const - Finish: Painted
Roofing: Composition; Built-Up
Floors: Ceramic Tile; Carpet
Sale Includes: Land & Building
Community Features: No Pool
Exterior Amenities: Partially Fenced; Cable TV Available; Security Light(s)
Appliances Included: Free-Standing Range; Refrigerator; Other
Heating: Natural Gas; Individual; 2 or More Units
Cooling: Ceiling Fan(s); Central Air; 2 or More Units
Water Source: City Franchise; Master Meter
Sewer: Sewer - Public
Electric: SRP; Master Meter; Individual Meter
Gas: SW Gas; Individual Meter
Parking Features: 1 Space/Unit
Road Surface Type: Asphalt
Owner Pays: Water; Trash Collection; Landscaping; Other; See Remarks
Tenant Pays: Electricity; Gas; Cable TV; Other (See Remarks)
Source of Fincl Data: Owner
Existing 1st Loan: Treat as Free&Clear
Existing 1st Loan Type: Not Applicable
Existing 1st Loan Terms: Not Applicable
Existing 2nd Loan: Treat as Free&Clear; Other (See Remarks)
Existing 2nd Loan Type: Not Applicable
Existing 2nd Loan Terms: Not Applicable
Existing 3rd Loan: Treat as Free&Clear
Existing 3rd Loan Type: Not Applicable
Existing 3rd Loan Terms: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: VA; Conventional
Environmental: None
Listing Office: RE/MAX Solutions
Last Updated: April - 07 - 2026
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