100 W RAY Road, Chandler, AZ 85225
$1,150,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$1,150,000
Last Modified:
3/05/2025
Description
WOW!!!!Seller is motivated bring your offers now!!! All two bedroom units in Chandler prime Location!!! 100% fully rented and all rents are getting increased rents at lease end to $700.00. Rents range for $625-$700. Laundry is leased and brings in about $150 a month net. Block construction and all have central a/c. Units all have tile this is a super low upkeep. Just had the roofs replaced. All facts and figures are approximate buyer verify MLS info.
More Information MLS# 5318878
Contract Info
Ownership: Fee Simple
Current Price: $1,150,000
Sold Price: $1,150,000
Status: Closed
List Date: 2015-08-10
Location, Tax & Legal
Assessor's Map #: 73
Assessor's Parcel #: 22
Assessor Parcel Ltr: c
Add'l Parcels: No
Tax Municipality: Chandler
Taxes: 5905
Legal: OLSEN ADDITION MCR 81-23 LOTS 22, 23 & 24 & ALSO PT ABAND RAY RD P/D 8404/68 EX RD P/F 06-681389
Marketing Name: Sundance Apartments
Map Code/Grid: T38
House Number: 100
Compass: W
Street Name: RAY
St Suffix: Road
City/Town Code: Chandler
State/Province: AZ
Zip Code: 85225
County Code: Maricopa
Assessor Number: 302-73-022-c
Tax Year: 2014
General Property Description
# of Buildings: 2
Uncvrd Parking Spcs: 0
Lot Size Dimensions: 215 X 105
Total # of Units: 16
Elementary School District: Chandler Unified District
High School District: Chandler Unified District
Elementary School: Knox Gifted Academy
High School: Chandler High School
Year Built: 1965
Zoning: MF5-24
Project Type
13 - 24 Units: 1
Other Type
Other (See Remarks): 1
Construction
Block: 1
Const - Finish
Other (See Remarks): 1
Roofing
Other: 1
Floors
Concrete: 1
Ceramic Tile: 1
Carpet: 1
Sale Includes
Land & Building: 1
Personal Property: 1
Laundry Equipment: 1
Income & Expenses
Annual Elec Exp: 1000
Annual Gas Exp: 0
Annual Ins Exp: 3450
Annual Land Lse Exp: 0
Annual Landscape Exp: 1000
Annual Legal & Acctg: 0
Annual Maint Exp: 13000
Annual Mgmt Exp: 12000
Annual Trash Exp: 3000
Annual Wtr/Swr Exp: 4500
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 5905
Operating Exp: 49760
Other Income: 1800
Vacancy Allowance: 0.05
Adjusted Gross Inc: 129390
Total Monthly Rental Income: 11200
Pmt & Rate Info
Cap Rate: 6.64
Down Payment: 0
Equity: 1199000
1st Encumbrance: 0
Down Payment %: 0
Monthly Payments: 0
1st Interest Rate: 0
1st Payment: 0
1st Payment Freq: Monthly
Total Owed: 0
Assessment Balance: 0
Community Features
No Pool: 1
Heating
Electric: 1
Individual: 1
Cooling
Electric: 1
Individual: 1
Exterior Amenities
Desert Landscaping: 1
Interior Features
Unfurnished: 1
Fire/Smoke Alarm(s): 1
Mini Blinds: 1
Tenant Pays
Electricity: 1
Appliances Included
Refrigerator: 1
Free-Standing Range: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Projected Proforma: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
Carport: 1
>1 Space Per Unit: 1
Electric
SRP: 1
Individual Meter: 1
Gas
None: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
New Financing
Conventional: 1
Owner May Carry: 1
1031 Exchange: 1
Existing 1st Loan
Treat as Free&Clear: 1
Existing 1st Loan Type
Not Applicable: 1
Existing 1st Loan Terms
Non Assumable: 1
Existing 2nd Loan
Treat as Free&Clear: 1
Existing 2nd Loan Type
Not Applicable: 1
Existing 2nd Loan Terms
Non Assumable: 1
Existing 3rd Loan
Treat as Free&Clear: 1
Existing 3rd Loan Type
Not Applicable: 1
Reports/Disclosures
Seller Prop Disc Stm: 1
Existing 3rd Loan Terms
Non Assumable: 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
# 2 Bedroom Units: 16
Avg Rent: 700
Avg SqFt: 800
# Baths: 2
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Conventional
Loan Years: 30
Closing Cost Split: Normal - N
Payment Type: Other
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 0
Seller Concession $/%: $
Remarks Misc
Cross Street: RAY & ARIZONA AV, WEST OF ARIZONA AVE.,
Directions: Head S on Country Club Dr toward Chandler, Coolidge Turn right onto W Ray Rd.
Geo Lat: 33.320946
Geo Lon: -111.844178
Status Change Info
Off Market Date: 2016-03-18
Under Contract Date: 2015-12-11
Close of Escrow Date: 2016-03-18
Sold Price: $1,150,000
Legal Info
Lot Number: 22-24
Income Expenses
Gross Annual Sch Inc: 134400
Net Operating Income: 79630
Property Features
Project Type: 13 - 24 Units
Other Type: Other (See Remarks)
Construction: Block
Const - Finish: Other (See Remarks)
Roofing: Other
Floors: Concrete; Ceramic Tile; Carpet
Sale Includes: Land & Building; Personal Property; Laundry Equipment
Community Features: No Pool
Exterior Amenities: Desert Landscaping
Interior Features: Unfurnished; Fire/Smoke Alarm(s); Mini Blinds
Appliances Included: Free-Standing Range; Refrigerator
Heating: Individual
Cooling: Electric; Individual
Water Source: City Franchise
Sewer: Sewer - Public
Electric: SRP; Individual Meter
Gas: None
Parking Features: Carport; >1 Space Per Unit
Road Surface Type: Asphalt
Owner Pays: Water; Trash Collection
Tenant Pays: Electricity
Source of Fincl Data: Projected Proforma
Existing 1st Loan: Treat as Free&Clear
Existing 1st Loan Type: Not Applicable
Existing 1st Loan Terms: Non Assumable
Existing 2nd Loan: Treat as Free&Clear
Existing 2nd Loan Type: Not Applicable
Existing 2nd Loan Terms: Non Assumable
Existing 3rd Loan: Treat as Free&Clear
Existing 3rd Loan Type: Not Applicable
Existing 3rd Loan Terms: Non Assumable
Existing Othr Ln Trm: Not Applicable
New Financing: Conventional; Owner May Carry; 1031 Exchange
Environmental: None
Documents
Rent roll ›
Listing Office:
Better Homes & Gardens Real Estate SJ Fowler
Last Updated: March - 05 - 2025
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