950 W Erie Street, Chandler, AZ 85225
$2,350,000
Property Type:
Multiple Dwellings
Status:
Active
Current Price:
$2,350,000
Last Modified:
3/06/2026
Description
Terrific investment opportunity features two meticulously maintained fourplexes on individual residential lots, w/ potential for residential financing! Each unit has a spacious 1,039 sq. ft. 2BD/1.5BA layout on two levels.There are three renovated units with new flooring, cabinets, quartz counters, lighting, ceiling fans & appliances. There are five storage units & in-unit laundry for further income potential. There are also two covered parking spaces per unit & three additional covered guest spaces. Just two owners! The original owner built the ''Bravo'' in the mid-1980's, managed & maintained it for 40+ years! The current owner has improved on an already impressive property, offering a fantastic investment opportunity w/ tons of value-add potential. Reach out for more info.
More Information MLS# 6993532
Contract Info
Ownership: Fee Simple
Current Price: $2,350,000
List Price: $2,350,000
Status: Active
List Date: 2026-03-05
Location, Tax & Legal
Assessor's Map #: 51
Legal Description (Abbrev): BEG SW COR SW4 NW4 SW4 SEC 28 TH N 89D 48M E 265F TO POB TH N 165.20F TH N 89D 49M E 95F TH S 165
Assessor's Parcel #: 49
Assessor Parcel Ltr: C
Add'l Parcels: Yes
Tax Municipality: Chandler
Census Tract: 523002
Taxes: 1974
Legal: 302-51-049-C & 302-51-049-D
Marketing Name: Bravo at Alma School
House Number: 950
Compass: W
Street Name: Erie
St Suffix: Street
City/Town Code: Chandler
State/Province: AZ
Zip Code: 85225
Zip4: 4497
County Code: Maricopa
Assessor Number: 302-51-049-C
Tax Year: 2025
General Property Description
# of Buildings: 2
Uncvrd Parking Spcs: 0
Lot Size Dimensions: 95X133 (lot C) -AND- 105X133 (lot D)
Total # of Units: 8
Elementary School District: Chandler Unified District #80
High School District: Chandler Unified District #80
Elementary School: Hartford Sylvia Encinas Elementary
Jr. High School: John M Andersen Jr High School
High School: Chandler High School
Year Built: 1983
Zoning: PAD
Legal Info
Range: 5E
Section: 28
Township: 1S
Lot Number: N/A
Project Type
5 - 12 Units: 1
Construction
Block: 1
Wood Frame: 1
Const - Finish
Painted: 1
Stucco: 1
Roofing
Tile: 1
Floors
Tile: 1
Vinyl: 1
Carpet: 1
Sale Includes
Land & Building: 1
Laundry Equipment: 1
Income & Expenses
Annual Elec Exp: 720
Annual Landscape Exp: 3000
Annual Maint Exp: 4800
Annual Wtr/Swr Exp: 3648
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 14142
Other Income: 7200
Vacancy Allowance: 0.05
Adjusted Gross Inc: 133440.8
Pmt & Rate Info
Cap Rate: 3.08
Equity: 2350000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Showing Service: No Showing Service Used
Lockbox Type
None: 1
Community Features
No Pool: 1
Heating
Electric: 1
Cooling
Central Air: 1
Exterior Amenities
Desert Landscaping: 1
Cable TV Available: 1
Patio/Balcony: 1
Separate Storage: 1
Security Light(s): 1
Tenant Pays
Electricity: 1
Appliances Included
Dishwasher: 1
Disposal: 1
Free-Standing Electric Oven: 1
Microwave: 1
Refrigerator: 1
Washer/Dryer: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Road Responsibility
City Maintained Road: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Sewer-In & Connected: 1
Parking Features
Carport: 1
>1 Space Per Unit: 1
Electric
APS: 1
Gas
None: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
Landscaping: 1
New Financing
Cash: 1
Conventional: 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: 8
Avg Rent: 1409
Avg SqFt: 1039
# Baths: 2
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Remarks Misc
Cross Street: Alma School Rd & Chandler Blvd
Directions: North to Erie Street, East to property
Geo Lat: 33.309973
Geo Lon: -111.857743
Income Expenses
Gross Annual Sch Inc: 133264
Net Operating Income: 72420
Property Features
Project Type: 5 - 12 Units
Construction: Block; Wood Frame
Const - Finish: Painted; Stucco
Roofing: Tile
Floors: Tile; Vinyl; Carpet
Sale Includes: Land & Building; Laundry Equipment
Community Features: No Pool
Exterior Amenities: Desert Landscaping; Cable TV Available; Patio/Balcony; Separate Storage; Security Light(s)
Appliances Included: Free-Standing Electric Oven; Refrigerator; Dishwasher; Disposal; Microwave; Washer/Dryer
Cooling: Central Air
Water Source: City Franchise
Sewer: Sewer - Public; Sewer-In & Connected
Electric: APS
Gas: None
Parking Features: Carport; >1 Space Per Unit
Road Surface Type: Asphalt
Road Responsibility: City Maintained Road
Owner Pays: Water; Trash Collection; Landscaping
Tenant Pays: Electricity
Source of Fincl Data: Owner
Lockbox Type: None
New Financing: Cash; Conventional
Environmental: None
Listing Office:
eXp Realty
Last Updated: March - 06 - 2026
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