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648 W RAY Road, Chandler, AZ 85225

$8,670,000
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
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.

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