1081 N CALIFORNIA Street, Chandler, AZ 85225
$825,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$825,000
Last Modified:
7/06/2017
Description
The California Apartments is a 20 unit low-density, single level complex comprised of 5 four unit buildings on 2 lots. Seller has re-located out of state and his loss is your gain. Covered parking is on the South side of the property and there is an owned onsite laundry and a community barbeque/fenced play area for the children. All units are two bedroom/one bath with newer HVACs installed in 2005. At the same time, the roof was replaced with a new foam roofing system. The note is assumable (6.008%) for 1Pt qualified assumption. Buyer to verify all items prior to close of escrow.
More Information MLS# 5010270
Contract Info
Ownership: Fee Simple
Current Price: $825,000
Sold Price: $825,000
Status: Closed
List Date: 2013-10-05
Location, Tax & Legal
Assessor's Map #: 73
Legal Description (Abbrev): OLSEN ADDITION
Assessor's Parcel #: 15
Add'l Parcels: Yes
Tax Municipality: Chandler
Census Tract: 523003
Taxes: 4464
Legal: OLSEN ADDITION
Marketing Name: California Apartments
Map Code/Grid: T38
House Number: 1081
Compass: N
Street Name: CALIFORNIA
St Suffix: Street
City/Town Code: Chandler
State/Province: AZ
Zip Code: 85225
Zip4: 6670
County Code: Maricopa
Assessor Number: 302-73-015
Tax Year: 2012
General Property Description
# of Buildings: 5
Uncvrd Parking Spcs: 0
Lot Size Dimensions: irr
Total # of Units: 20
Elementary School District: Chandler Unified District
High School District: Chandler Unified District
Year Built: 1964
Zoning: Multi
Legal Info
Range: 5E
Section: 21
Township: 1S
Lot Number: 15
Project Type
13 - 24 Units: 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Foam: 1
Floors
Vinyl: 1
Ceramic Tile: 1
Carpet: 1
Sale Includes
Land & Building: 1
Personal Property: 1
Laundry Equipment: 1
Income & Expenses
Annual Elec Exp: 1367
Annual Gas Exp: 0
Annual Ins Exp: 4610
Annual Land Lse Exp: 0
Annual Landscape Exp: 0
Annual Legal & Acctg: 2000
Annual Maint Exp: 10000
Annual Mgmt Exp: 6000
Annual Trash Exp: 2661
Annual Wtr/Swr Exp: 6957
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 1785
Operating Exp: 39844
Other Income: 3000
Vacancy Allowance: 0.1
Adjusted Gross Inc: 110700
Pmt & Rate Info
Cap Rate: 8.38
Down Payment: 0
Equity: 849000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0
Community Features
No Pool: 1
Play Area: 1
Barbecue: 1
Heating
Electric: 1
Individual: 1
Cooling
Electric: 1
Individual: 1
Exterior Amenities
Desert Landscaping: 1
Interior Features
Unfurnished: 1
Tenant Pays
Electricity: 1
Cable TV: 1
Appliances Included
Refrigerator: 1
Free-Standing Range: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Projected Proforma: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
Carport: 1
On Street: 1
1 Space/Unit: 1
Electric
APS: 1
SRP: 1
Gas
SW Gas: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
New Financing
Conventional: 1
Owner May Carry: 1
Wraparound: 1
Existing 1st Loan
Conventional: 1
Existing 1st Loan Type
Not Applicable: 1
Existing 1st Loan Terms
Assume - Qualify: 1
Existing 2nd Loan
Treat as Free&Clear: 1
Existing 2nd Loan Type
Not Applicable: 1
Existing 2nd Loan Terms
Not Applicable: 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
Not Applicable: 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Contact Info
List Agent Home Phn: 602-265-6617
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
# 2 Bedroom Units: 20
Avg Rent: 500
Avg SqFt: 644
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Carryback
Loan Years: 20
Closing Cost Split: Normal - N
Payment Type: Adjustable
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 0
Seller Concession $/%: $
Remarks Misc
Cross Street: Ray Road/Arizona Ave
Directions: West to California, North to property on East side of street - 5 four unit buildings on two lots.
Geo Lat: 33.322074
Geo Lon: -111.844146
Status Change Info
Off Market Date: 2014-02-05
Under Contract Date: 2014-02-04
Close of Escrow Date: 2014-02-19
Sold Price: $825,000
Income Expenses
Gross Annual Sch Inc: 120000
Net Operating Income: 71156
Property Features
Project Type: 13 - 24 Units
Construction: Block
Const - Finish: Painted
Roofing: Foam
Floors: Vinyl; Ceramic Tile; Carpet
Sale Includes: Land & Building; Personal Property; Laundry Equipment
Community Features: No Pool; Play Area; Barbecue
Exterior Amenities: Desert Landscaping
Interior Features: Unfurnished
Appliances Included: Free-Standing Range; Refrigerator
Heating: Individual
Cooling: Electric; Individual
Water Source: City Franchise
Sewer: Sewer - Public
Electric: APS; SRP
Gas: SW Gas
Parking Features: Carport; On Street; 1 Space/Unit
Road Surface Type: Asphalt
Owner Pays: Water; Trash Collection
Tenant Pays: Electricity; Cable TV
Source of Fincl Data: Owner; Projected Proforma
Existing 1st Loan: Conventional
Existing 1st Loan Type: Not Applicable
Existing 1st Loan Terms: Assume - Qualify
Existing 2nd Loan: Treat as Free&Clear
Existing 2nd Loan Type: Not Applicable
Existing 2nd Loan Terms: Not Applicable
Existing 3rd Loan: Treat as Free&Clear
Existing 3rd Loan Type: Not Applicable
Existing 3rd Loan Terms: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: Conventional; Owner May Carry; Wraparound
Environmental: None
Documents
SPDS ›
Listing Office:
Better Homes & Gardens Real Estate SJ Fowler
Last Updated: July - 06 - 2017
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