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695 N ARIZONA Avenue, Chandler, AZ 85225
Overview
Description
Supplements: ... (Read more) The walkability of The DC makes it a great place to visit for an afternoon, as well as after dark when the nightlife comes alive in the pubs, lounges, and eateries. Locals, as well as out-of-towners, visit The DC throughout the year to discover the art, culture, food, and entertainment that it brings to the heart of Chandler. The Casa Blanca Motel is comprised of 26 units and sits on 29,675 SF of land zoned C-3. Its mid-century architecture, mixed with a Santa Barbara-style, and its phenomenal location, makes the Casa Blanca Motel a very unique opportunity for a "current", cool, hip value-add project. The property has been operated as a weekly rental / motel and has performed extremely well historically. There are many new roofs and new exterior sewer lines. While an investor could continue to operate as-is, the best long-term plan would be to do a full renovation and mirror what was done down the street at The Aloha Motel. The city has expressed verbal support to convert the property to market-rate apartments or redevelop the site entirely. This property is a phenomenal value-add opportunity for someone who wants a property in an amazing location in an area where properties of this size rarely hit the market. Chandler continues to be one of the most sought-after submarkets for investors with its tremendous employment opportunities, lack of inventory, and its convenient, centralized location in the heart of the Southeast Valley. The Casa Blanca Motel is a tremendous vacation rental opportunity, similar to the nearby The Aloha Motel. Please see The Aloha Motel details provided to support the renovation proforma.
Listing Details MLS# 6625699
Location, Tax & Legal
- House Number
- 695
- Compass
- N
- Street Name
- ARIZONA
- St Suffix
- Avenue
- City/Town Code
- Chandler
- State/Province
- AZ
- Zip Code
- 85225
- Zip4
- 6950
- Country
- US
- County Code
- Maricopa
- Subdivision
- LUNDQUIST MANOR
- Assessor Number
- 302-66-018
- Tax Year
- 2023
- Assessor's Map #
- 66
- Legal Description (Abbrev)
- LOT 1 BLOCK 2 LUNDQUIST MANOR MCR 003939
- Assessor's Parcel #
- 18
- Add'l Parcels
- Yes
- Tax Municipality
- Chandler
- Census Tract
- 522903
- Taxes
- 11262
- Legal
- LOT 1 BLOCK 2 LUNDQUIST MANOR MCR 003939
Contract Info
- Ownership
- Fee Simple
General Property Description
- Ttl Apx SqFt Bldg
- 11412
- # of Buildings
- 10
- Year Built
- 1934
- Zoning
- C3
- Uncvrd Parking Spcs
- 0
Remarks Misc
- Cross Street
- N Arizona Ave & Chandler Blvd
- Directions
- North on Arizona Ave to property on SE corner of Arizona Ave & E. Harrison St.
Status Change Info
- Off Market Date
- 2024-01-09
- Under Contract Date
- 2024-01-09
- Close of Escrow Date
- 2024-02-16
Legal Info
- Township
- 1S
- Range
- 5E
- Section
- 27
- Lot Number
- Yes
More Information
Showing Notification Methods
- Showing Service
- Aligned Showings
- Text
- Yes
- Phone Call
- Yes
Sold Info
- Loan Type
- Other
- Payment Type
- Other
- Clsing Cost Split
- Normal - N
- Buyer Concession to Seller
- 2
- Buyer Concession $/%
- %
- Seller Concession $/%
- %
- Seller Concession to Buyer
- 0
Construction
- Other
- Yes
Roofing
- Other
- Yes
Floors
- Other
- Yes
Income & Expenses
- Owner Association
- No
- Annual Ownr Asoc Fee
- 0
- Other Income
- 0
- Vacancy Allowance
- 0
- Adjusted Gross Inc
- 0
Building Type
- Commercial
- Yes
- Other (See Remarks)
- Yes
Business Type
- See Remarks
- Yes
Stories
- 1 Story
- Yes
Pmt & Rate Info
- Equity
- 1799000
- Total Owed
- 0
Lockbox Type
- None
- Yes
Ceiling Height
- 8 Feet or Less
- Yes
Heating
- Other
- Yes
Cooling
- Other
- Yes
Interior Features
- Other (See Remarks)
- Yes
Loading Facilities
- None
- Yes
Exterior
- Corner Lot
- Yes
- Other (See Remarks)
- Yes
Source of Fincl Data
- Other (See Remarks)
- Yes
Fencing
- Other
- Yes
Water Source
- City Franchise
- Yes
Freeway/Highway
- Other (See Remarks)
- Yes
Sewer
- Sewer - Public
- Yes
Parking Features
- Other
- Yes
Electric
- Other (See Remarks)
- Yes
Gas
- Other (See Remarks)
- Yes
New Financing
- Cash Only
- Yes
- Cash to Loan
- Yes
- 1031 Exchange
- Yes
- Other (See Remarks)
- Yes
Use Restrictions
- Other (See Remarks)
- Yes
Reports/Disclosures
- Other (See Remarks)
- Yes
Environmental
- Other (See Remarks)
- Yes
Property Features