38 E ELLIOT Road, Gilbert, AZ 85234
$595,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$595,000
Last Modified:
2/12/2026
Description
Heritage District Downtown Gilbert- GOLD MINE Investor Opportunity. 7.5 CAP RATE RENTURN PROFORMA. Month to month tenants. By App Only showings during diligence period. DRIVE BY ONLY. NO SELLER FINANCING
More Information MLS# 6535868
Contract Info
Ownership: Fee Simple
Current Price: $595,000
Sold Price: $595,000
Status: Closed
List Date: 2023-03-24
Location, Tax & Legal
Assessor's Map #: 11
Legal Description (Abbrev): LOT 3 HAZELWOOD TERRACE MCR 007130
Assessor's Parcel #: 184
Add'l Parcels: No
Tax Municipality: Gilbert
Census Tract: 422402
Taxes: 602
Legal: LOT 3 HAZELWOOD TERRACE MCR 007130
Marketing Name: Elliot
Map Code/Grid: S40
House Number: 38
Compass: E
Street Name: ELLIOT
St Suffix: Road
City/Town Code: Gilbert
State/Province: AZ
Zip Code: 85234
Zip4: 6703
County Code: Maricopa
Subdivision: HAZELWOOD TERRACE
Assessor Number: 304-11-184
Tax Year: 2022
General Property Description
# of Buildings: 1
Uncvrd Parking Spcs: 2
Lot Size Dimensions: 25000
Flood Zone: No
Total # of Units: 2
Elementary School District: Gilbert Unified District
High School District: Gilbert Unified District
Year Built: 1960
Zoning: duplex
Legal Info
Range: 6E
Section: 7
Township: 1S
Lot Number: 3
Project Type
Duplex: 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Composition: 1
Floors
Other: 1
Sale Includes
Building(s) Only: 1
Income & Expenses
Annual Elec Exp: 0
Annual Gas Exp: 0
Annual Ins Exp: 800
Annual Land Lse Exp: 0
Annual Landscape Exp: 0
Annual Legal & Acctg: 0
Annual Maint Exp: 1500
Annual Mgmt Exp: 0
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 0
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 2902
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 48000
Pmt & Rate Info
Cap Rate: 7.32
Equity: 628000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Email: 1
Lockbox Type
None: 1
Community Features
No Pool: 1
Heating
Individual: 1
Cooling
Central Air: 1
Interior Features
Unfurnished: 1
Tenant Pays
Water: 1
Electricity: 1
Trash Collection: 1
Appliances Included
None: 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
Other: 1
Electric
Other (See Remarks): 1
Gas
None: 1
Owner Pays
Other: 1
New Financing
Conventional: 1
No Carry: 1
Other (See Remarks): 1
Existing 1st Loan
Treat as Free&Clear: 1
Other (See Rmks): 1
Reports/Disclosures
None: 1
Environmental
None: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
# 2 Bedroom Units: 2
Avg Rent: 2000
Avg SqFt: 900
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Cash
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: Gilbert and Elliot
Directions: Gilbert to Elliot, turn west to property
Geo Lat: 33.350296
Geo Lon: -111.788003
Status Change Info
Off Market Date: 2023-10-18
Under Contract Date: 2023-09-28
Close of Escrow Date: 2023-10-17
Sold Price: $595,000
Income Expenses
Gross Annual Sch Inc: 48000
Net Operating Income: 46000
Property Features
Project Type: Duplex
Construction: Block
Const - Finish: Painted
Roofing: Composition
Floors: Other
Sale Includes: Building(s) Only
Community Features: No Pool
Interior Features: Unfurnished
Appliances Included: None
Heating: Individual
Cooling: Central Air
Water Source: City Franchise
Sewer: Sewer - Public
Electric: Other (See Remarks)
Gas: None
Parking Features: Carport; Other
Road Surface Type: Asphalt
Owner Pays: Other
Tenant Pays: Water; Electricity; Trash Collection
Source of Fincl Data: Projected Proforma
Showing Notification Methods: Email
Lockbox Type: None
Existing 1st Loan: Treat as Free&Clear; Other (See Rmks)
New Financing: Conventional; No Carry; Other (See Remarks)
Environmental: None
Listing Office:
Cluff Real Estate LLC
Last Updated: February - 12 - 2026
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