$396,000
Chandler, AZ 85225
MLS# 6860519
Status: Closed
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Property Description
Chandler DUPLEX! TWO detached homes on ONE lot! This is the best CASH COW in the entire Valley! Projected 9% CAP rate! The 3 bed 2 bath home in the front does need some work! The 2 bed 1 bath home in the back (accessible from street behind the home) is in good shape & ready to go! Both units have their own fenced yard, separate entrances (one from the street in the front, the other the road in the back). Literally two separate homes on one lot! Property is located in the #1 school district in the state, short walk to Chandler High & is just blocks from popular Downtown Chandler with lots of dining, entertainment & shops! Located just a few miles from both 101 & 202 freeway to provide easy access to Phoenix/Scottsdale/ASU etc. Pro forma rents are likely lower than what it could receive.
Details
Maps
Contract Info
Ownership: Fee Simple
Current Price: $396,000
Sold Price: $396,000
Status: Closed
List Date: 2025-05-02
Location, Tax & Legal
Assessor's Map #: 64
Legal Description (Abbrev): GREATER CHANDLER ADD
Assessor's Parcel #: 106
Add'l Parcels: No
Tax Municipality: Chandler
Census Tract: 522903
Taxes: 871
Legal: GREATER CHANDLER ADD
Marketing Name: Chandler Duplex
House Number: 481
Compass: N
Street Name: COLORADO
St Suffix: Street
City/Town Code: Chandler
State/Province: AZ
Zip Code: 85225
Zip4: 4950
County Code: Maricopa
Subdivision: GREATER CHANDLER ADD BLK 8 & 9
Assessor Number: 302-64-106
Tax Year: 2024
General Property Description
# of Buildings: 2
Uncvrd Parking Spcs: 4
Lot Size Dimensions: 150 x 50
Total # of Units: 2
Elementary School District: Chandler Unified District #80
High School District: Chandler Unified District #80
Elementary School: Galveston Elementary School
Jr. High School: Willis Junior High School
High School: Chandler High School
Year Built: 1951
Zoning: MF-1
Legal Info
Range: 5E
Section: 27
Township: 1S
Lot Number: 3
Project Type
Duplex: 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Composition: 1
Floors
Vinyl: 1
Ceramic Tile: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Elec Exp: 0
Annual Gas Exp: 1200
Annual Ins Exp: 470
Annual Land Lse Exp: 0
Annual Landscape Exp: 0
Annual Legal & Acctg: 0
Annual Mgmt Exp: 0
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 1100
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 3641
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 42000
Pmt & Rate Info
Cap Rate: 9.03
Equity: 425000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Showing Service: Aligned Showings
Lockbox Type
Supra: 1
Community Features
See Remarks: 1
Heating
Natural Gas: 1
Cooling
Ceiling Fan(s): 1
Heat Pump: 1
Tenant Pays
Electricity: 1
Appliances Included
Free-Standing Gas Oven: 1
Built-In Range: 1
W/D Hookup: 1
Road Access Type
Alley: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Projected Proforma: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
>1 Space Per Unit: 1
RV Access/Parking: 1
Electric
APS: 1
Gas
SW Gas: 1
Owner Pays
Water: 1
Sewer: 1
Gas: 1
Trash Collection: 1
New Financing
Cash: 1
Existing 1st Loan
Conventional: 1
Reports/Disclosures
None: 1
Environmental
None: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
# 2 Bedroom Units: 1
Avg Rent: 1500
Avg SqFt: 720
# Baths: 1
3 Bedrooms Units
# 3 Bedroom Units: 1
Avg Rent: 1900
Avg SqFt: 1128
# Baths: 175
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Cash
Closing Cost Split: Normal - N
Payment Type: Other
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 0
Seller Concession $/%: $
Remarks Misc
Cross Street: Arizona Avenue and Chandler BLVD
Directions: N to Erie, E to Colorado, N to home. To access the other home in the back you can just drive around the corner to the wide alley that serves as the street for the back unit.
Geo Lat: 33.311199
Geo Lon: -111.838487
Status Change Info
Off Market Date: 2025-05-13
Under Contract Date: 2025-05-06
Close of Escrow Date: 2025-05-23
Sold Price: $396,000
Income Expenses
Gross Annual Sch Inc: 42000
Net Operating Income: 38359
Property Features
Project Type: Duplex
Construction: Block
Const - Finish: Painted
Roofing: Composition
Floors: Vinyl; Ceramic Tile
Sale Includes: Land & Building
Community Features: See Remarks
Appliances Included: Free-Standing Gas Oven; Built-In Range; W/D Hookup
Heating: Natural Gas
Cooling: Ceiling Fan(s); Heat Pump
Water Source: City Franchise
Sewer: Sewer - Public
Electric: APS
Gas: SW Gas
Parking Features: >1 Space Per Unit; RV Access/Parking
Road Access Type: Alley
Road Surface Type: Asphalt
Owner Pays: Water; Gas; Trash Collection
Tenant Pays: Electricity
Source of Fincl Data: Projected Proforma
Lockbox Type: Supra
Existing 1st Loan: Conventional
New Financing: Cash
Environmental: None
Listing Office: RE/MAX Solutions
Last Updated: April - 06 - 2026
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