498 N ARIZONA Avenue, Chandler, AZ 85225
$2,015,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$2,015,000
Last Modified:
6/23/2022
Overview
Description
Listing Details MLS# 6389005
Location, Tax & Legal
- Map Code/Grid
- T38
- House Number
- 498
- Compass
- N
- Street Name
- ARIZONA
- St Suffix
- Avenue
- City/Town Code
- Chandler
- State/Province
- AZ
- Zip Code
- 85225
- Zip4
- 5069
- Country
- US
- County Code
- Maricopa
- Assessor Number
- 302-59-117
- Tax Year
- 2021
- Assessor's Map #
- 59
- Legal Description (Abbrev)
- PT NE4 SE4 BEG N 35F & 50F W FR SE COR NE4 SE4 N 495.10F BEING POB ALSO BEING DESC AS BEG ON E LN BL
- Assessor's Parcel #
- 117
- Add'l Parcels
- No
- Tax Municipality
- Chandler
- Census Tract
- 523002
- Taxes
- 3856
- Legal
- PT NE4 SE4 BEG N 35F & 50F W FR SE COR NE4 SE4 N 495.10F BEING POB ALSO BEING DESC AS BEG ON E LN BL
- Marketing Name
- Courtyard Apartments
Contract Info
- Ownership
- Fee Simple
General Property Description
- Lot Size Dimensions
- 14941
- Year Built
- 1948
- Uncvrd Parking Spcs
- 16
- Total # of Units
- 12
- # of Buildings
- 3
- Zoning
- C-3
- Elementary School District
- Chandler Unified District
- High School District
- Chandler Unified District
- Elementary School
- Hartford Sylvia Encinas Elementary
- Jr. High School
- John M Andersen Jr High School
- High School
- Chandler High School
Remarks Misc
- Cross Street
- Arizona Ave & Chandler Blvd
- Directions
- Arizona Ave to Oakland Street, property is on the SW corner
Status Change Info
- Off Market Date
- 2022-06-23
- Under Contract Date
- 2022-05-01
- Close of Escrow Date
- 2022-06-22
Legal Info
- Township
- 1S
- Range
- 5E
- Section
- 28
More Information
Income Expenses
- Gross Annual Sch Inc
- 123272.69
- Net Operating Income
- 64021.76
1 Bedroom Units
- # 1 Bedroom Units
- 8
- Avg Rent
- 876.5
- Avg SqFt
- 538
- # Baths
- Yes
2 Bedroom Units
- # 2 Bedroom Units
- 3
- Avg Rent
- 939.82
- Avg SqFt
- 700
- # Baths
- Yes
3 Bedrooms Units
- # 3 Bedroom Units
- Yes
- Avg Rent
- 1200
- Avg SqFt
- 950
- # 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
- 5 - 12 Units
- Yes
Other Type
- Hotel/Motel
- Yes
Construction
- Block
- Yes
Const - Finish
- Painted
- Yes
- Stucco
- Yes
Roofing
- Built-Up
- Yes
- Rolled
- Yes
Floors
- Vinyl
- Yes
- Ceramic Tile
- Yes
Sale Includes
- Land & Building
- Yes
- Laundry Equipment
- Yes
Income & Expenses
- Annual Elec Exp
- 19639.2
- Annual Gas Exp
- 0
- Annual Ins Exp
- 6394.86
- Annual Land Lse Exp
- 0
- Annual Landscape Exp
- 0
- Annual Legal & Acctg
- 0
- Annual Maint Exp
- 18844.31
- Annual Mgmt Exp
- 12036.73
- Annual Trash Exp
- 0
- Annual Wtr/Swr Exp
- 0
- Owner Association
- No
- Annual Ownr Asoc Fee
- 0
- Operating Exp
- 60771.1
- Other Income
- 5444.6
- Vacancy Allowance
- 0.01
- Adjusted Gross Inc
- 127430.12
- Total Monthly Rental Income
- 10272.72
Status Update
- Multiple Offers Recd
- Yes
Pmt & Rate Info
- Cap Rate
- 3.2
- Equity
- 2000000
- Down Payment %
- 20
- Monthly Payments
- 2978.58
- Total Owed
- 0
Showing Notification Methods
- Text
- Yes
- Yes
- Phone Call
- Yes
Lockbox Type
- None
- Yes
Community Features
- No Pool
- Yes
Heating
- Electric
- Yes
Cooling
- Ceiling Fan(s)
- Yes
- Electric
- Yes
- Individual
- Yes
Interior Features
- Unfurnished
- Yes
- Fire/Smoke Alarm(s)
- Yes
- Mini Blinds
- Yes
Tenant Pays
- Cable TV
- Yes
Appliances Included
- Dishwasher
- Yes
- Refrigerator
- Yes
- Free-Standing Range
- Yes
Road Surface Type
- Asphalt
- Yes
Source of Fincl Data
- Owner
- Yes
- Projected Proforma
- Yes
Water Source
- City Franchise
- Yes
Sewer
- Sewer - Public
- Yes
Parking Features
- >1 Space Per Unit
- Yes
Electric
- APS
- Yes
- Master Meter
- Yes
Gas
- SW Gas
- Yes
Owner Pays
- Water
- Yes
- Sewer
- Yes
- Electric
- Yes
- Gas
- Yes
- Trash Collection
- Yes
New Financing
- Conventional
- Yes
Existing 1st Loan
- Treat as Free&Clear
- Yes
Existing 1st Loan Type
- Not Applicable
- Yes
Existing 1st Loan Terms
- Not Applicable
- Yes
Existing 2nd Loan
- Treat as Free&Clear
- Yes
Existing 2nd Loan Type
- Not Applicable
- Yes
Existing 2nd Loan Terms
- Not Applicable
- Yes
Existing 3rd Loan
- Treat as Free&Clear
- Yes
Existing 3rd Loan Type
- Not Applicable
- Yes
Reports/Disclosures
- Seller Prop Disc Stm
- Yes
Existing 3rd Loan Terms
- Not Applicable
- Yes
Environmental
- None
- Yes
Efficiency Units
- Avg Rent
- 0
4 Bedrooms Units
- Avg Rent
- 0
Property Features
Project Type:
5 - 12 Units
Other Type:
Hotel/Motel
Construction:
Block
Const - Finish:
Painted; Stucco
Roofing:
Built-Up; Rolled
Floors:
Vinyl; Ceramic Tile
Sale Includes:
Land & Building; Laundry Equipment
Community Features:
No Pool
Interior Features:
Unfurnished; Fire/Smoke Alarm(s); Mini Blinds
Appliances Included:
Free-Standing Range; Refrigerator; Dishwasher
Cooling:
Ceiling Fan(s); Electric; Individual
Water Source:
City Franchise
Sewer:
Sewer - Public
Electric:
APS; Master Meter
Gas:
SW Gas
Parking Features:
>1 Space Per Unit
Road Surface Type:
Asphalt
Owner Pays:
Water; Electric; Gas; Trash Collection
Tenant Pays:
Cable TV
Source of Fincl Data:
Owner; Projected Proforma
Status Update:
Multiple Offers Recd
Showing Notification Methods:
Text; Email; Phone Call
Lockbox Type:
None
Existing 1st Loan:
Treat as Free&Clear
Existing 1st Loan Type:
Not Applicable
Existing 1st Loan Terms:
Not Applicable
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
New Financing:
Conventional
Environmental:
None
Listing Office:
HomeSmart
Last Updated: June - 23 - 2022
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