Address
498 N Arizona Avenue, Chandler, AZ
Price
$ 2,450,000
Property Attributes
  • MLS#6463975
  • TypeMulti-Family
  • CountyMARICOPA
  • CityChandler
  • Zip85225
  • Style
  • Year Built1948
  • Taxes$ 3856
  • Price$ 2,450,000
  • Bedrooms17
  • Full Bathrooms14
  • Half Bathrooms0
  • Sqr Footage7804
Data Source:
Arizona Regional MLS (ARMLSN)
Property Description

A stabilized 12 unit property with a diverse unit mix of 8 1bedroom/1bathroom units, 3 2bedroom/1bathroom units, and 1 3bedroom/2bathroom units. The property has seen extensive capital improvements in the last 30 days, including new sewer lines, new exterior stucco and paint, a freshly renovated courtyard, new windows on all units, a redone parking lot, and two units fully renovated. The remaining tenants are on Month to Month leases or have leases that will be expiring soon. Opportunity to raise rents immediately or continue interior unit renovations to achieve highest market rents in desirable submarket of Chandler.

Price History
9/19/2022 Listed $2,450,000

General Features

1 Bedroom Units: Avg Rent 1435.00
2 Bedroom Units: Avg Rent 1585.00
3 Bedrooms Units: Avg Rent 1885.00
3 Bedrooms Units: Avg Sqft 1150
4 Bedrooms Units: Avg Rent 0.00
City Chandler
Construction Block
Cooling Ceiling Fan(s), Electric, Individual
County Maricopa
Directions Arizona Ave to Oakland Street, property is on the SW corner
Electric APS, Master Meter
Features No Pool
Gas Y/N SW Gas
Geo Lat 33.31138
Geo Lon -111.841894
Heating Electric
Interior Features Fire/Smoke Alarm(s), Unfurnished
Map Code/Grid T38
Net Income 145000.00
New Financing 1031 Exchange, Conventional
Owner Pays Electric, Gas, Sewer, Trash Collection, Water
Parking >1 Space Per Unit, Street Parking
Property Type F
Public Remarks A stabilized 12 unit property with a diverse unit mix of 8 1bedroom/1bathroom units, 3 2bedroom/1bathroom units
Roof Rolled
School District 080 - Chandler Unified District
Sewer Sewer - Public
Status Active
Street Name ARIZONA
Tax Municipality Chandler
Taxes 3856.00
Tenant Pays Other (See Remarks)
Water City Franchise
Year Built 1948
Zoning C-3

Interior Features

1 Bedroom Units: # 1 Bedroom Units 8
1 Bedroom Units: # Baths 1
1 Bedroom Units: Avg Sqft 513
2 Bedroom Units: # 2 Bedroom Units 3
2 Bedroom Units: # Baths 1
2 Bedroom Units: Avg Sqft 850
3 Bedrooms Units: # 3 Bedroom Units 1
3 Bedrooms Units: # Baths 3
Appliances Included BI Oven/Range, Dishwasher, Disposal, F/S Oven/Range, Microwave, Refrigerator, W/D Hookup, Washer/Dryer
Floors Ceramic Tile, Vinyl
Street Suffix Avenue
Total Number of Units 12.00

Exterior Features

Sale Includes Land & Building
Const - Finish Painted, Stucco
Covered Parking Spcs 0.00
Lot Size Dimensions 14941
Total Parking Spcs 16.00

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Multi-Family Average in 85225

Price
AVG $1.13M
$2.45M
Taxes
AVG $1,862
$3,856
Visits
AVG 14
7
Year Built
AVG 1965
1948

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