257 E Oakland Street, Chandler, AZ 85225 (MLS# 6358253)

257 E Oakland Street, Chandler, AZ 85225

$845,000

Property Type: Multiple Dwellings Status: Closed

Current Price: $845,000 Last Modified: 4/02/2025

Overview

Description

What an amazing opportunity to acquire a fully gutted and remodeled Triplex in the heart of Chandler. The property is currently under construction and should be available to close in the next 60 days. All new windows, stainless steel appliances, hot water heaters, air conditioners, roof, and so much more. See the Documents for a full list of improvements. Projected rents are $1,750 per door. Should have zero capital expenses for a long time. Buyer to verify all facts and figures.

Listing Details MLS# 6358253

Location, Tax & Legal

Map Code/Grid: T39
House Number: 257
Compass: E
Street Name: Oakland
St Suffix: Street
City/Town Code: Chandler
State/Province: AZ
Zip Code: 85225
Country: US
County Code: Maricopa
Assessor Number: 302-64-139
Tax Year: 2021
Assessor's Map #: 64
Assessor's Parcel #: 139
Add'l Parcels: No
Tax Municipality: Chandler
Taxes: 619
Legal: Legal Description supplied by Title to govern
Marketing Name: Triplex

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: irr
Year Built: 1956
Uncvrd Parking Spcs: 5
Total # of Units: 3
# of Buildings: 2
Zoning: MF-1
Elementary School District: Chandler Unified District
High School District: Chandler Unified District

Remarks Misc

Cross Street: Ray Rd and Chandler Blvd
Directions: South on Chandler Blvd to Oakland Street and turn East to the Property. Property is on the south side of the street

Status Change Info

Off Market Date: 2022-04-29
Under Contract Date: 2022-04-29
Close of Escrow Date: 2022-08-17

Legal Info

Lot Number: Yes

More Information

Income Expenses

Gross Annual Sch Inc: 63000
Net Operating Income: 51096

1 Bedroom Units

# 1 Bedroom Units: 3
Avg Rent: 1695
Avg SqFt: 550
# Baths: Yes

Sold Info

Loan Type: Cash
Payment Type: Other
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Buyer Concession to Seller: 0
Seller Concession to Buyer: 0

Project Type

Tri-Plex: Yes

Construction

Wood Frame: Yes

Const - Finish

Painted: Yes
Stucco: Yes

Roofing

Composition: Yes

Floors

Ceramic Tile: Yes

Sale Includes

Land & Building: Yes
Personal Property: Yes

Income & Expenses

Annual Ins Exp: 1737
Annual Landscape Exp: 600
Annual Maint Exp: 600
Annual Mgmt Exp: 4888
Annual Wtr/Swr Exp: 1560
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 10004
Other Income: 0
Vacancy Allowance: 0.03
Adjusted Gross Inc: 61110

Pmt & Rate Info

Cap Rate: 5.71
Equity: 895000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0

Lockbox Type

None: Yes

Community Features

No Pool: Yes

Heating

Heat Pump: Yes
Individual: Yes

Cooling

Ceiling Fan(s): Yes
Heat Pump: Yes

Exterior Amenities

Curb(s) & Gutter(s): Yes
Sidewalk(s): Yes

Tenant Pays

Electricity: Yes
Cable TV: Yes

Appliances Included

Dishwasher: Yes
Disposal: Yes
Microwave: Yes
Refrigerator: Yes
Free-Standing Range: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Projected Proforma: Yes

Water Source

City Franchise: Yes
Master Meter: Yes

Sewer

Sewer - Public: Yes
Sewer-In & Connected: Yes

Parking Features

Free: Yes
On Street: Yes
>1 Space Per Unit: Yes
Paved: Yes

Electric

APS: Yes

Gas

None: Yes

Owner Pays

Water: Yes
Sewer: Yes
Trash Collection: Yes
Landscaping: Yes

New Financing

VA: Yes
Conventional: Yes
FHA: Yes
No Carry: Yes

Reports/Disclosures

Seller Prop Disc Stm: Yes
APOD/Backup Avaible: Yes
Sch of Personal Prop: Yes
Other (See Remarks): Yes

Environmental

None: Yes

Efficiency Units

Avg Rent: 0

2 Bedroom Units

Avg Rent: 0

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Property Features

Project Type: Tri-Plex Construction: Wood Frame Const - Finish: Painted; Stucco Roofing: Composition Floors: Ceramic Tile Sale Includes: Land & Building; Personal Property Community Features: No Pool Exterior Amenities: Curb(s) & Gutter(s); Sidewalk(s) Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Disposal; Microwave Heating: Individual; Heat Pump Cooling: Ceiling Fan(s); Heat Pump Water Source: City Franchise; Master Meter Sewer: Sewer - Public; Sewer-In & Connected Electric: APS Gas: None Parking Features: On Street; >1 Space Per Unit; Free; Paved Road Surface Type: Asphalt Owner Pays: Water; Trash Collection; Landscaping Tenant Pays: Electricity; Cable TV Source of Fincl Data: Projected Proforma Lockbox Type: None New Financing: VA; FHA; Conventional; No Carry Environmental: None

Listing Office: Gerchick Real Estate

Last Updated: April - 02 - 2025