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Chandler, AZ is home to 250,000 people, and it’s located in the Phoenix area in Maricopa County. The city of Chandler, AZ is well-known for being an innovator and technology pioneer, making job opportunities plentiful and exciting. The housing market is diverse, and there’s something for everyone. There is an endless list of activities to enjoy for those who love the outdoors, nightlife, family-friendly activities, art and culture experiences, and so much more. Chandler, AZ is an exciting city with room to grow, which is why people are flocking to the area.
For more information on real estate for sale in Chandler, AZ, schedule a showing, call us today, or send us an email.
A fourplex is a style of multi-family homes that contain four distinct and private units within one building. This type of multi-family home often has two apartment-style suites on the top floor and two suites on the lower floor.
Fourplexes may not be among the top home types on every interested buyer’s list. Still, there are plenty of attractive options in the Chandler, AZ area. Throughout many desirable communities, prices for fourplexes range from $500,000 to $2 million.
When choosing your Chandler, AZ neighborhood, there are no bad options. Each of the communities in the city has something special to offer its residents. Some of the most common areas where buyers can find fourplexes are Downtown, Silk Stocking, and Galveston.
Purchasing a fourplex is an excellent option for any new or seasoned real estate investor. While it can be a lot of work to maintain a multi-family home, the benefits are well worth it. If you are looking to expand your investment portfolio, a fourplex can be an excellent option. As long as you’re willing to be a landlord or pay a company to manage the property, you may be able to bring in enough of a profit to live rent-free. If you are looking to purchase a home but want to generate some extra passive income, considering a fourplex could be the answer. Suppose you live in one unit and rent out the other three. In that case, you can benefit from having better financing options and likely be able to cover the cost of your mortgage and then some. Suppose you are looking to purchase a property with private suites and extra space because you are taking care of family or friends. In that case, a fourplex allows you to be close to them while still having your separate space, which is a huge benefit. If you’re looking for a multi-family property for any reason, it can be an excellent investment and should be on the top of your must-see list.
When you’re ready to finance your new fourplex in Chandler, AZ, it’s important to know what options are available to you. There is a lot to know when it comes to purchasing a multi-family property, so there are different options that are important to be aware of. If you have the cash to pay for the home, you won’t need to worry about financing options, but the majority of buyers will require a mortgage to purchase their property. There are three primary options available, and it’s essential to know the differences between them.
If you are buying the fourplex as an investment property, you will be required to apply for a traditional mortgage. When you don’t reside in one of the units, you won’t qualify for an owner-occupant mortgage, and it’s a riskier transaction for the bank. You will be required to put down the standard down payment, have excellent credit, and you will receive typical interest rates. You will be able to use the rental income generated from the property towards being approved for the loan.
If you plan on living in one of the units, you will qualify for an owner-occupant mortgage. The FHA offers a loan that allows for lower down payments, better interest rates, and fewer requirements. The Federal Housing Administration loan provides a lot of benefits to buyers and can save a lot of money in the long run.
Suppose you are a current or former member of the U.S. military. In that case, the Veterans Affairs loan is an incredible option to make homeownership as easy as possible. The VA loan requires military personnel to reside in one of the units, but there is no down payment required, a lower credit score is accepted, and there are excellent interest rates for buyers. For veterans, this loan is the best way to purchase an investment property and saves a lot of money compared to the other two loan options.
Choosing a team of professionals to help you with the purchase of fourplexes in Chandler, AZ doesn’t have to be complicated. It’s important to find experienced lenders who can ensure you’ll get the best mortgage option for your situation.
Looking for the ultimate guide to buying a fourplex home? Check out our blog post here.
If you'd prefer a duplex in Chandler, AZ, check out our duplex page here.
GetMultiFamily.com is the most exciting and effective way to purchase or sell your Chandler, AZ multi-family property. With our expertise and a long list of happy clients, we aim to provide a seamless experience for everyone who visits our website. We want every one of our clients to end up in their dream property. We specialize in duplexes, triplexes, fourplexes, and other multi-family properties. We love getting recommended to other clients, which is why we always recommend The Cap Core Real Estate Group. Led by the incredible Patrick O’Sullivan, it’s no wonder why the team is so successful. Patrick has had an impressive real estate career, most notably as the former real estate advisor for U-Haul and recipient of the Agent of the Year and the CCMI (Certified Commercial Member Investment) designation. Patrick's level of success and the high standards he holds himself to permeate through the team, and each member strives to provide an amazing experience for each client. Chandler, AZ residents can all agree that their interaction with Cap Core has been exceptional.
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