AZ > Chandler
Chandler, AZ 85225,498 N ARIZONA Avenue
Chandler, AZ 85225,498 N ARIZONA Avenue
Chandler, AZ 85225,498 N ARIZONA Avenue
Chandler, AZ 85225,498 N ARIZONA Avenue
Chandler, AZ 85225,498 N ARIZONA Avenue
Chandler, AZ 85225,498 N ARIZONA Avenue
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Eric Ravenscroft, CRS

Eric Ravenscroft, CRS

+1(805) 815-5695
$ 2,600,000
Est. payment | /mo
Save
$ 2,600,000
Est. payment | /mo
Save

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

New Construction Yes

Schools

School District Chandler Unified District

Others

Senior Community No

Tax ID 302-59-117

Acceptable Financing Conventional

Listing Terms Conventional

Arizona Regional MLS (ARMLS)

Copyright 2024 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

Listed by Orion Investment Real Estate

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498 N ARIZONA Avenue