261 W ELGIN Street, Chandler, AZ 85225
$690,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$690,000
List Date:
7/08/2021
Last Modified:
2/12/2026
Description
Within walking distance to Downtown Chandler. House and triplex. Property sits on two lots that total over a 1/4 acre. House is approximately 1239SF, built in 1950 and has 3 beds, 1 bath, with an office and a large laundry area. The triplex consists of all 2 bed/1 bath apartments and was built in 1984. All units have washer dryer hookups and private yards. House has all new synthetic stucco, all new landscaping with pavers, new shingles and some new decking, The interior of the house has all new appliances, new kitchen and bath counters and cabinets, new waterproof vinyl plank flooring, new water heater, new plumbing, new electrical, new interior doors, new front door, new dual pane windows, new tub and tub surround, new lighting, new texture, and new paint.
Supplements: One of the apartments has been remodeled with new texture, paint, kitchen & bath counters and cabinets, new interior doors, new wood look plank flooring, new ceiling fans, lighting, new appliances, and new block fencing with RV gate and RV electrical hookup. The roof in the triplex has a new second layer of shingles, some of the siding was replaced, exterior paint , and new landscaping to include pavers and synthetic grass. Currently, three units are occupied $1150/month on the remodeled apartment and $750/month on the two that are not remodeled. The house is currently vacant. New A/C has been installed on the house on 7/23/21. Current water bill has been averaging just under $150/month. Taxes on both lots for 2020 total $1542/year. THERE ARE NO HISTORICAL FINANCIALS AVAILABLE. There is gas to the property but is currently only being used for heat in the house. All units on package A/C's. PROPERTY IS LOCATED WITHIN AN OPPORTUNITY ZONE.
More Information MLS# 6248799
Contract Info
Ownership: Fee Simple
Current Price: $690,000
Sold Price: $690,000
Status: Closed
List Date: 2021-06-10
Location, Tax & Legal
Assessor's Map #: 19
Legal Description (Abbrev): PT ARB LOT 11 PT SW4 NE4 SE4 BEG 200' W FR NE COR SW4 NE4 SE4 TH S 164' W 50' N 164' E 50' TO BEG E
Assessor's Parcel #: 99
Assessor Parcel Ltr: C
Add'l Parcels: Yes
Tax Municipality: Chandler
Census Tract: 523104
Taxes: 1542
Legal: PT ARB LOT 11 PT SW4 NE4 SE4 BEG 200' W FR NE COR SW4 NE4 SE4 TH S 164' W 50' N 164' E 50' TO BEG E
Marketing Name: Chandler House & Triplex
Map Code/Grid: T38
House Number: 261
Compass: W
Street Name: ELGIN
St Suffix: Street
City/Town Code: Chandler
State/Province: AZ
Zip Code: 85225
Zip4: 7820
County Code: Maricopa
Assessor Number: 303-19-099-C
Tax Year: 2020
General Property Description
# of Buildings: 2
Uncvrd Parking Spcs: 2
Lot Size Dimensions: 100 x 130
Total # of Units: 4
Elementary School District: Chandler Unified District
High School District: Chandler Unified District
Year Built: 1950
Zoning: MF-1
Legal Info
Range: 5E
Section: 33
Township: 1S
Project Type
Four Plex: 1
Other Type
House + Rental Units: 1
Construction
Wood Frame: 1
Const - Finish
Painted: 1
Stucco: 1
Siding: 1
Roofing
Composition: 1
Floors
Vinyl: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Elec Exp: 0
Annual Gas Exp: 0
Annual Ins Exp: 1800
Annual Land Lse Exp: 0
Annual Landscape Exp: 0
Annual Legal & Acctg: 0
Annual Maint Exp: 2400
Annual Mgmt Exp: 0
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 2400
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 8142
Other Income: 0
Vacancy Allowance: 0.05
Adjusted Gross Inc: 54150
Pmt & Rate Info
Cap Rate: 6.57
Equity: 699900
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Email: 1
Lockbox Type
None: 1
Community Features
No Pool: 1
Heating
Electric: 1
Natural Gas: 1
Individual: 1
Cooling
Electric: 1
Heat Pump: 1
Tenant Pays
Gas: 1
Electricity: 1
Appliances Included
Refrigerator: 1
Built-In Range: 1
W/D Hookup: 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
Electric
APS: 1
Gas
SW Gas: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
New Financing
VA: 1
Conventional: 1
FHA: 1
No Carry: 1
Special
Owner/Agent: 1
Existing 1st Loan
Treat as Free&Clear: 1
Reports/Disclosures
Seller Prop Disc Stm: 1
Environmental
None: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
# 2 Bedroom Units: 3
Avg Rent: 1083
Avg SqFt: 750
# Baths: 1
3 Bedrooms Units
# 3 Bedroom Units: 1
Avg Rent: 1500
Avg SqFt: 1239
# Baths: 1
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: Arizona Ave & Chandler Blvd
Directions: South to Elgin, West to property on the south side of the street
Geo Lat: 33.296787
Geo Lon: -111.844455
Status Change Info
Off Market Date: 2021-07-24
Under Contract Date: 2021-07-23
Close of Escrow Date: 2021-08-30
Sold Price: $690,000
Income Expenses
Gross Annual Sch Inc: 57000
Net Operating Income: 46008
Property Features
Project Type: Four Plex
Other Type: House + Rental Units
Construction: Wood Frame
Const - Finish: Painted; Stucco; Siding
Roofing: Composition
Floors: Vinyl
Sale Includes: Land & Building
Community Features: No Pool
Appliances Included: Built-In Range; Refrigerator; W/D Hookup
Heating: Natural Gas; Individual
Cooling: Electric; Heat Pump
Water Source: City Franchise
Sewer: Sewer - Public
Electric: APS
Gas: SW Gas
Parking Features: Carport
Road Surface Type: Asphalt
Owner Pays: Water; Trash Collection
Tenant Pays: Electricity; Gas
Source of Fincl Data: Projected Proforma
Special: Owner/Agent
Showing Notification Methods: Email
Lockbox Type: None
Existing 1st Loan: Treat as Free&Clear
New Financing: VA; FHA; Conventional; No Carry
Environmental: None
Listing Office:
Better Homes & Gardens Real Estate SJ Fowler
Last Updated: February - 12 - 2026
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