365 N ALMA SCHOOL Road B, Chandler, AZ 85224 (MLS# 5655489)

365 N ALMA SCHOOL Road B, Chandler, AZ 85224

$345,000

Property Type: Multiple Dwellings Status: Closed

Current Price: $345,000 Last Modified: 9/03/2017

Overview

Description

100 % occupied. Long term seller retiring. All rents $100+ a month or so below market. Seller's loss is your gain. Sold day one on brokers website. This listing added to MLS for COMPARISON purposes only. This offering was sold significantly higher than the closed sale price. Seller decided not to carry the note and this would have sold close to list price as verified by the backup offers. Similar units adjacent to this offering were leased $100 a month higher. All facts and figures believed to be correct but buyer to verify ALL during DD period.

Listing Details MLS# 5655489

Location, Tax & Legal

Map Code/Grid: T38
House Number: 365
Compass: N
Street Name: ALMA SCHOOL
St Suffix: Road
City/Town Code: Chandler
State/Province: AZ
Zip Code: 85224
Zip4: 4378
County Code: Maricopa
Subdivision: OWNERS PLAT
Assessor Number: 302-52-004-B
Tax Year: 2016
Unit #: B
Assessor's Map #: 52
Legal Description (Abbrev): LOT 1 OWNERS PLAT MCR 007941
Assessor's Parcel #: 4
Assessor Parcel Ltr: B
Add'l Parcels: No
Tax Municipality: Chandler
Census Tract: 523002
Taxes: 1061
Legal: LOT 1 OWNERS PLAT MCR 007941
Marketing Name: Chandler Fabulous FourPle

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 10533
Year Built: 1963
Uncvrd Parking Spcs: 5
Total # of Units: 4
# of Buildings: 2
Zoning: Multi
Elementary School District: Chandler Unified District
High School District: Chandler Unified District

Remarks Misc

Cross Street: Alma School & Erie
Directions: Just north of Chandler and South of Erie

Status Change Info

Off Market Date: 2017-09-02
Under Contract Date: 2017-08-25
Close of Escrow Date: 2017-09-01

Legal Info

Township: 1S
Range: 5E
Section: 28
Lot Number: Yes

More Information

Income Expenses

Gross Annual Sch Inc: 29028
Net Operating Income: 18222.1

2 Bedroom Units

# 2 Bedroom Units: 4
Avg Rent: 625
Avg SqFt: 800
# Baths: Yes

Contact Info

List Agent Home Phn: 602-265-6617

Sold Info

Loan Type: Conventional
Payment Type: Fixed
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Buyer Concession to Seller: 0
Seller Concession to Buyer: 0

Project Type

Four Plex: Yes

Construction

Block: Yes

Const - Finish

Painted: Yes

Roofing

Composition: Yes

Floors

Vinyl: Yes
Carpet: Yes

Sale Includes

Building(s) Only: Yes

Income & Expenses

Annual Elec Exp: 305.04
Annual Gas Exp: 0
Annual Ins Exp: 1660
Annual Land Lse Exp: 0
Annual Landscape Exp: 390
Annual Legal & Acctg: 0
Annual Maint Exp: 1439.74
Annual Mgmt Exp: 3500
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 1698.72
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Operating Exp: 10054.5
Other Income: 0
Vacancy Allowance: 0.05
Adjusted Gross Inc: 27576.6

Pmt & Rate Info

Cap Rate: 0.46
Down Payment: 0
Equity: 3950000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0

Community Features

No Pool: Yes

Heating

Heat Pump: Yes
Electric: Yes
Central: Yes

Cooling

Ceiling Fan(s): Yes
Electric: Yes
2 or More Units: Yes

Tenant Pays

Gas: Yes
Electricity: Yes
Cable TV: Yes

Appliances Included

Refrigerator: Yes
Free-Standing Range: Yes

Road Surface Type

Asphalt: Yes
Concrete: Yes

Source of Fincl Data

Owner: Yes
Projected Proforma: Yes

Water Source

City Franchise: Yes

Sewer

Sewer - Public: Yes

Parking Features

Carport: Yes
On Street: Yes
<1 Space Per Unit: Yes
Paved: Yes
Add'l Parking Avail: Yes

Electric

SRP: Yes
Individual Meter: Yes

Gas

SW Gas: Yes
Submetered System: Yes

Owner Pays

Water: Yes
Sewer: Yes
Trash Collection: Yes

New Financing

No Carry: Yes
Owner May Carry: Yes

Existing 1st Loan

Conventional: Yes

Existing 1st Loan Type

Fixed: Yes

Existing 1st Loan Terms

Non Assumable: 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

None: Yes

Existing 3rd Loan Terms

Not Applicable: Yes

Environmental

None: Yes

Existing Othr Ln Trm

Not Applicable: Yes

Efficiency Units

Avg Rent: 0

1 Bedroom Units

Avg Rent: 0

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Property Features

Project Type: Four Plex Construction: Block Const - Finish: Painted Roofing: Composition Floors: Vinyl; Carpet Sale Includes: Building(s) Only Community Features: No Pool Appliances Included: Free-Standing Range; Refrigerator Heating: Central; Heat Pump Cooling: Ceiling Fan(s); Electric; 2 or More Units Water Source: City Franchise Sewer: Sewer - Public Electric: SRP; Individual Meter Gas: SW Gas; Submetered System Parking Features: Carport; On Street; <1 Space Per Unit; Add'l Parking Avail; Paved Road Surface Type: Asphalt; Concrete Owner Pays: Water; Trash Collection Tenant Pays: Electricity; Gas; Cable TV Source of Fincl Data: Owner; Projected Proforma Existing 1st Loan: Conventional Existing 1st Loan Type: Fixed Existing 1st Loan Terms: Non Assumable 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 Existing Othr Ln Trm: Not Applicable New Financing: No Carry; Owner May Carry Environmental: None

Listing Office: Better Homes & Gardens Real Estate SJ Fowler

Last Updated: September - 03 - 2017