710 N Arizona Avenue, Chandler, AZ 85225

$2,650,000
List Price
$2,650,000
Status
ACTIVE
Price Change
▲ $25,000 1608202229
Days on Market
79
MLS#
6171680
City
Chandler
Year Built
1957

Property Description

PRIME INVESTMENT OPPORTUNITY IN HIGH BARRIER TO ENTRY CHANDLER. Currently operated as motel rented nightly & week-to-week, opportunity to lock in tenants for long term to maximize occupancy. WOW 11% CAP--- See attached proforma.Single level garden style property with various unit types and sizes. Corner lot with Frontage entrance on Hwy 87/Arizona Ave and side entrance on Harrison. Newer upgraded paver sidewalks, electronic entry locks, solid concrete buildings, newer roofs, newer water heaters, newer individual AC/heat, granite countertops/showers, fully furnished units with pull-out sofas, 37in TV with full cable, complementary Wi-Fi and all utilities included. - 10 Studios (200sq ft)- 9 One bedroom one bath apartments (427sq ft)- 5 Junior Apts (308sq ft) - Separate 2 bedroom/2 bath detached house with laundry, fire place and backyard - Additional land area to potentially build more units/pool/basketball courts? - Earn additional income for charging for utilities, cable, wi-fi, or parking? Close to golf courses, dining, shopping, schools and Phoenix/Tempe/ASU. Chandler known for Intel, Honeywell, Wells Fargo, Paypal, GM, Microchip offices and locations. Visit property site www.chandlerstudiosapts.com for more photos and property info.

Additional Information

Taxes
$8,800
Operating Exp
8800
Units
25
Project Type
25 - 50 Units
Pool
Yes
Guest House SqFt
25
Construction
Slump Block
Roofing
Built-Up, Comp Shingle
Parking
Free, Paved Parking
Cooling
Electric Refrigeratd, Individual, Window/Wall Unit
Heating
Electric, Heat Pump, Individual, Window/Wall Unit(s)
Floors
Carpet, Ceramic Tile, Vinyl/Composition
Interior Amenities
Drapes, Fire/Smoke Alarm(s), Furnished
Exterior Amenities
Cable TV Available, Desert Landscaping
Zoning
SF-8.5
Subdivision
Chandler Inn Mld
Electric
APS, Master Meter
Gas
Master Meter, SW Gas
Water
City Franchise, Irrigation, Master Meter
Sewer
Sewer - Public
Tenant Pays
None
New Financing
1031 Exchange
Elementary School
Hartford Sylvia Encinas Elementary
High School
Chandler High School
School District
080 - Chandler Unified District

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
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Calculator source: Real Geeks

Listing courtesy of HomeSmart.

All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. Copyright 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.