1014 N CALIFORNIA Street, Chandler, AZ 85225
$2,675,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$2,675,000
Last Modified:
9/10/2024
Description
Well kept investment property located near Downtown Chandler. All units are currently tenant occupied. All tenants are on a month to month lease. Sold As Is. No CarryBack
More Information MLS# 6635709
Contract Info
Ownership: Fee Simple
Current Price: $2,675,000
Sold Price: $2,675,000
Status: Closed
List Date: 2023-11-30
Location, Tax & Legal
Assessor's Map #: 73
Legal Description (Abbrev): LOT 25 OLSEN ADDITION MCR 008123
Assessor's Parcel #: 25
Assessor Parcel Ltr: A
Add'l Parcels: Yes
Tax Municipality: Chandler
Census Tract: 523003
Taxes: 5358
Legal: LOT 25 OLSEN ADDITION MCR 008123
Marketing Name: California Apartments
House Number: 1014
Compass: N
Street Name: CALIFORNIA
St Suffix: Street
City/Town Code: Chandler
State/Province: AZ
Zip Code: 85225
Zip4: 6680
County Code: Maricopa
Subdivision: OLSEN ADDITION
Assessor Number: 302-73-025-A
Tax Year: 2023
General Property Description
# of Buildings: 2
Uncvrd Parking Spcs: 21
Lot Size Dimensions: 13113
Total # of Units: 21
Elementary School District: Chandler Unified District
High School District: Chandler Unified District
Year Built: 1966
Zoning: mf-2
Legal Info
Range: 5E
Section: 21
Township: 1S
Lot Number: 25
Project Type
13 - 24 Units: 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Composition: 1
Foam: 1
Floors
Ceramic Tile: 1
Sale Includes
Laundry Equipment: 1
Income & Expenses
Annual Elec Exp: 1100
Annual Gas Exp: 4100
Annual Ins Exp: 4300
Annual Landscape Exp: 1300
Annual Trash Exp: 4700
Annual Wtr/Swr Exp: 4300
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 25158
Other Income: 3200
Vacancy Allowance: 0
Adjusted Gross Inc: 210600
Pmt & Rate Info
Cap Rate: 6.18
Equity: 2999999
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Showing Service: No Showing Service Used
Lockbox Type
None: 1
Community Features
No Pool: 1
Heating
Window/Wall Unit(s): 1
Cooling
Window/Wall Unit: 1
Exterior Amenities
Landscape Water System: 1
Green Landscaping: 1
Patio/Balcony: 1
Security Light(s): 1
Interior Features
Fire/Smoke Alarm(s): 1
Tenant Pays
Electricity: 1
Appliances Included
Refrigerator: 1
Free-Standing Range: 1
Road Surface Type
Concrete: 1
Gravel: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
1 Space/Unit: 1
Electric
SRP: 1
Gas
SW Gas: 1
Owner Pays
Water: 1
Sewer: 1
Electric: 1
Gas: 1
Trash Collection: 1
New Financing
Conventional: 1
No Carry: 1
Existing 1st Loan
Conventional: 1
Existing 1st Loan Type
Fixed: 1
Existing 1st Loan Terms
Non Assumable: 1
Reports/Disclosures
Seller Prop Disc Stm: 1
Environmental
None: 1
Contact Info
List Agent Home Phn: 520-233-2894
Efficiency Units
# Efficiency Units: 16
Avg Rent: 900
Avg SqFt: 350
# Baths: 1
1 Bedroom Units
# 1 Bedroom Units: 4
Avg Rent: 1000
Avg SqFt: 700
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 1
Avg Rent: 1100
Avg SqFt: 950
# Baths: 1
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: Fixed
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 0
Seller Concession $/%: $
Remarks Misc
Cross Street: Ray Rd and Arizona Ave Di
Directions: West on Ray Rd and north on California St.
Geo Lat: 33.320909
Geo Lon: -111.844875
Status Change Info
Off Market Date: 2024-08-16
Under Contract Date: 2024-07-15
Close of Escrow Date: 2024-09-09
Sold Price: $2,675,000
Income Expenses
Gross Annual Sch Inc: 207400
Net Operating Income: 185442
Property Features
Project Type: 13 - 24 Units
Construction: Block
Const - Finish: Painted
Roofing: Composition; Foam
Floors: Ceramic Tile
Sale Includes: Laundry Equipment
Community Features: No Pool
Exterior Amenities: Landscape Water System; Green Landscaping; Patio/Balcony; Security Light(s)
Interior Features: Fire/Smoke Alarm(s)
Appliances Included: Free-Standing Range; Refrigerator
Heating: Window/Wall Unit(s)
Cooling: Window/Wall Unit
Water Source: City Franchise
Sewer: Sewer - Public
Electric: SRP
Gas: SW Gas
Parking Features: 1 Space/Unit
Road Surface Type: Gravel; Concrete
Owner Pays: Water; Electric; Gas; Trash Collection
Tenant Pays: Electricity
Source of Fincl Data: Owner
Lockbox Type: None
Existing 1st Loan: Conventional
Existing 1st Loan Type: Fixed
Existing 1st Loan Terms: Non Assumable
New Financing: Conventional; No Carry
Environmental: None
Listing Office:
DeLex Realty
Last Updated: September - 10 - 2024
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