950 W Erie Street, Chandler, AZ 85225 (MLS# 7071967)

950 W Erie Street, Chandler, AZ 85225

$2,199,900

Property Type: Multiple Dwellings Bedrooms: 16 Baths: 16 Status: UCB (Under Contract-Backups)

Current Price: $2,199,900 Last Modified: 9/30/2026

Overview

Description

This terrific investment opportunity features two meticulously maintained fourplexes on individual residential lots, opening up potential for residential financing. Each unit offers a spacious 1,039SF, 2BD/1.5BA layout across two levels. Three units are fully renovated with new flooring, cabinets, quartz countertops, updated lighting, ceiling fans, and modern appliances. Additional income potential includes five storage units & in-unit laundry, alongside two covered parking spaces per unit and three covered guest spaces. Pride of ownership shines with only two owners since the mid-1980s: the original owner built and managed ''The Bravo'' for over 40 years, and the current owner has continued to elevate this high-value asset. Reach out today for more information!

Listing Details MLS# 7071967

Location, Tax & Legal

House Number: 950
Compass: W
Street Name: Erie
St Suffix: Street
City/Town Code: Chandler
State/Province: AZ
Zip Code: 85225
Zip4: 4497
Country: US
County Code: Maricopa
Assessor Number: 302-51-049-C
Tax Year: 2025
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: 3939
Legal: 302-51-049-C and 302-51-049-D
Marketing Name: Bravo at Alma School

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 95X133 (lot C) -AND- 105X133 (lot D)
Year Built: 1983
Total # of Units: 8
# of Buildings: 2
Zoning: PAD
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
Uncvrd Parking Spcs: 0

Remarks Misc

Cross Street: Alma School Rd & Chandler Blvd
Directions: North to Erie St, East to property

Legal Info

Township: 1S
Range: 5E
Section: 28
Lot Number: N/A

2 Bedroom Units

# 2 Bedroom Units: 8
Avg Rent: 1393
Avg SqFt: 1039
# Baths: 2

More Information

Structure

Bedrooms Total: 16
Bathrooms Total: 16

Income Expenses

Gross Annual Sch Inc: 133740
Net Operating Income: 114933

Showing Notification Methods

Showing Service: No Showing Service Used

Project Type

5 - 12 Units: Yes

Efficiency Units

Avg Rent: 0

1 Bedroom Units

Avg Rent: 0

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Construction

Block: Yes
Wood Frame: Yes

Const - Finish

Painted: Yes
Stucco: Yes

Roofing

Tile: Yes

Floors

Tile: Yes
Vinyl: Yes
Carpet: Yes

Sale Includes

Land & Building: Yes
Laundry Equipment: Yes

Income & Expenses

Annual Elec Exp: 720
Annual Landscape Exp: 3000
Annual Maint Exp: 4800
Annual Wtr/Swr Exp: 3600
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 16059
Other Income: 0
Vacancy Allowance: 0.05
Adjusted Gross Inc: 127053

Pmt & Rate Info

Cap Rate: 5.22
Equity: 2199900
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0

Lockbox Type

None: Yes

Community Features

No Pool: Yes

Heating

Electric: Yes

Cooling

Central Air: Yes

Exterior Amenities

Desert Landscaping: Yes
Cable TV Available: Yes
Patio/Balcony: Yes
Separate Storage: Yes
Security Light(s): Yes

Tenant Pays

Electricity: Yes

Appliances Included

Dishwasher: Yes
Disposal: Yes
Free-Standing Electric Oven: Yes
Microwave: Yes
Refrigerator: Yes
Washer/Dryer: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Owner: Yes

Road Responsibility

City Maintained Road: Yes

Water Source

City Franchise: Yes

Sewer

Sewer - Public: Yes
Sewer-In & Connected: Yes

Parking Features

Carport: Yes
>1 Space Per Unit: Yes

Electric

APS: Yes

Gas

None: Yes

Owner Pays

Water: Yes
Sewer: Yes
Trash Collection: Yes
Landscaping: Yes

New Financing

Cash: Yes
Conventional: Yes

Reports/Disclosures

Seller Prop Disc Stm: Yes

Environmental

None: Yes

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

Office Phone: 888-897-7821

Office Email: az.broker@exprealty.net

Last Updated: September - 30 - 2026