498 N ARIZONA Avenue Save Request In-Person Tour Request Virtual Tour
Chandler,AZ 85225
Key Details
Property Type Multi-Family
Listing Status Active Under Contract
Purchase Type For Sale
MLS Listing ID 6767834
Maintenance Fees $9,000
Originating Board Arizona Regional Multiple Listing Service (ARMLS)
Year Built 1948
Annual Tax Amount $3,874
Tax Year 2023
Lot Dimensions 14,941
Property Description
The Avenue Apartments is a nicely renovated 13 unit complex located near Downtown Chandler. This investment opportunity offers a step in 6.7% cap rate with further opportunity to increase NOI through renovating the remaining 5 units. The attractive unit mix includes 5 2bed/1bath units and 8 1bed/1bath units. Major exterior renovations have been done inclucding new exterior stucco and paint, new plumbing, new parking lot asphalt and stripping, and a refurbished courtyard.
Location
State AZ
County Maricopa
Zoning C3
Direction North on Arizona Ave to Oakland Street, property is on the SW corner
Interior
Heating Natural Gas
Cooling Individual,Electric,Ceiling Fan(s)
Flooring Ceramic Tile,Vinyl
Appliance BI Oven/Range,Microwave,Washer/Dryer
Exterior
Garage >1 Space Per Unit
Community Features No Pool
Waterfront No
Roof Type Foam
Total Parking Spaces 16
Building
Sewer Public Sewer
Water City Franchise
Schools
School District Chandler Unified District
Others
Senior Community No
Tax ID 302-59-117
Acceptable Financing Conventional
Listing Terms Conventional