648 W RAY Road, Chandler, AZ 85225
$8,670,000
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Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$8,670,000
Last Modified:
7/05/2023
More Information MLS# 6546181
Contract Info
Current Price: $8,670,000
Sold Price: $8,670,000
Status: Closed
List Date: 2023-03-20
Ownership: Fee Simple
Subagents: N
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
Map Code/Grid: T38
House Number: 648
Compass: W
Street Name: RAY
St Suffix: Road
City/Town Code: Chandler
State/Province: AZ
Zip Code: 85225
Zip4: 7268
Country: USA
County Code: Maricopa
Legal Description (Abbrev): SE4 SW4 EX S 50F RD & EX ANY PT LY W/IN COLLEGE P ARK VI & EX E 240F TH/OF
Assessor's Map #: 43
Assessor's Parcel #: 5
Assessor Parcel Ltr: B
Add'l Parcels: No
Assessor Number: 302-43-005-B
Legal: SE4 SW4 EX S 50F RD & EX ANY PT LY W/IN COLLEGE P ARK VI & EX E 240F TH/OF
Census Tract: 523003
Tax Municipality: Chandler
Taxes: 14869
Tax Year: 2022
Marketing Name: Jamestown Apartments
General Property Description
Lot Size Dimensions: Normal
Year Built: 2016
Uncvrd Parking Spcs: 26
Total # of Units: 34
# of Buildings: 10
Zoning: MF-3
Elementary School District: Chandler Unified District
High School District: Chandler Unified District
Remarks & Misc
Geo Lat: 33.321053
Geo Lon: -111.85188
Status Change Info
Status Change Date: 2023-07-05
Off Market Date: 2023-07-05
Under Contract Date: 2023-03-20
Close of Escrow Date: 2023-06-30
Sold Price: $8,670,000
Legal Info
Township: 1S
Range: 5E
Section: 21
Lot Number: -
Income & Expenses
Annual Elec Exp: 10294
Annual Landscape Exp: 5980
Annual Maint Exp: 94000
Annual Trash Exp: 6176
Annual Wtr/Swr Exp: 7744
Owner Association: No
Operating Exp: 139063
Gross Annual Sch Inc: 269638
Vacancy Allowance: 0.05
Adjusted Gross Inc: 256156.1
Net Operating Income: 64113
Pmt & Rate Info
Cap Rate: 0.67
Equity: 9500000
2 Bedroom Units
# 2 Bedroom Units: 34
Avg Rent: 860
Avg SqFt: 975
# Baths: 1
Sold Info
Loan Type: Carryback
Loan Years: 10
Payment Type: Interest Only
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Property Features
Project Type: 25 - 50 Units
Construction: Frame - Wood; Brick
Const - Finish: Painted; Brick Trim/Veneer
Roofing: Comp Shingle
Floors: Vinyl; Ceramic Tile
Sale Includes: Land & Building
Community Amenities: No Pool; Manager Res/Office
Exterior Amenities: Patio/Balcony
Interior Amenities: Unfurnished; Fire/Smoke Alarm(s)
Appliances Included: F/S Oven/Range; Washer/Dryer; W/D Hookup
Heating: Heat Pump
Cooling: Individual
Water: City Franchise; Individual Meter
Sewer: Sewer - Public
Electric: SRP
Gas: None
Parking: >1 Space Per Unit; Add'l Parking Avail; Assigned; Free; Paved Parking
Roads/Streets: Asphalt
Owner Pays: Trash Collection; Landscaping
Tenant Pays: Water; Electric
Source of Fincl Data: Provided by Owner
Showing Notification Methods: Text; Email; Phone Call
Lockbox Type: None
Existing 1st Loan: Treat as Free&Clear
New Financing: Conventional; Seller May Carry
Reports/Disclosures: Boundary Survey Avlb; ALTA Survey Availbl
Environmental: None
Listing Office: Orion Investment Real Estate
Last Updated: July - 05 - 2023
![648 W RAY Road, Chandler, AZ 85225- MLS# 6546181 648 W RAY Road, Chandler, AZ 85225- MLS# 6546181](https://cdn.photos.sparkplatform.com/az/20110121205630090682000000.jpg)
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