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
Ownership: Fee Simple
Current Price: $8,670,000
Sold Price: $8,670,000
Status: Closed
List Date: 2023-03-20
Location, Tax & Legal
Assessor's Map #: 43
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 Parcel #: 5
Assessor Parcel Ltr: B
Add'l Parcels: No
Tax Municipality: Chandler
Census Tract: 523003
Taxes: 14869
Legal: SE4 SW4 EX S 50F RD & EX ANY PT LY W/IN COLLEGE P ARK VI & EX E 240F TH/OF
Marketing Name: Jamestown Apartments
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
County Code: Maricopa
Assessor Number: 302-43-005-B
Tax Year: 2022
General Property Description
# of Buildings: 10
Uncvrd Parking Spcs: 26
Lot Size Dimensions: Normal
Total # of Units: 34
Elementary School District: Chandler Unified District
High School District: Chandler Unified District
Year Built: 2016
Zoning: MF-3
Legal Info
Range: 5E
Section: 21
Township: 1S
Lot Number: -
Project Type
25 - 50 Units: 1
Construction
Wood Frame: 1
Brick: 1
Const - Finish
Painted: 1
Brick Veneer: 1
Roofing
Composition: 1
Floors
Vinyl: 1
Ceramic Tile: 1
Sale Includes
Land & Building: 1
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
Annual Ownr Asoc Fee: 0
Operating Exp: 139063
Other Income: 0
Vacancy Allowance: 0.05
Adjusted Gross Inc: 256156.1
Pmt & Rate Info
Cap Rate: 0.67
Equity: 9500000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Text: 1
Email: 1
Phone Call: 1
Lockbox Type
None: 1
Community Features
No Pool: 1
Manager Res/Office: 1
Heating
Electric: 1
Heat Pump: 1
Cooling
Individual: 1
Exterior Amenities
Patio/Balcony: 1
Interior Amenities
Unfurnished: 1
Fire/Smoke Alarm(s): 1
Tenant Pays
Water: 1
Electricity: 1
Appliances Included
Free-Standing Range: 1
Washer/Dryer: 1
W/D Hookup: 1
Roads/Streets
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Individual Meter: 1
Sewer
Sewer - Public: 1
Parking Features
Free: 1
>1 Space Per Unit: 1
Paved: 1
Add'l Parking Avail: 1
Assigned: 1
Electric
SRP: 1
Gas
None: 1
Owner Pays
Sewer: 1
Trash Collection: 1
Landscaping: 1
New Financing
Conventional: 1
Owner May Carry: 1
Existing 1st Loan
Treat as Free&Clear: 1
Reports/Disclosures
Boundary Survey Avlb: 1
ALTA Survey Availbl: 1
Environmental
None: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
# 2 Bedroom Units: 34
Avg Rent: 860
Avg SqFt: 975
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Carryback
Loan Years: 10
Closing Cost Split: Normal - N
Payment Type: Interest Only
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 0
Seller Concession $/%: $
Remarks Misc
Geo Lat: 33.321053
Geo Lon: -111.85188
Status Change Info
Off Market Date: 2023-07-05
Under Contract Date: 2023-03-20
Close of Escrow Date: 2023-06-30
Sold Price: $8,670,000
Income Expenses
Gross Annual Sch Inc: 269638
Net Operating Income: 64113
Property Features
Project Type: 25 - 50 Units
Construction: Wood Frame; Brick
Const - Finish: Painted; Brick Veneer
Roofing: Composition
Floors: Vinyl; Ceramic Tile
Sale Includes: Land & Building
Community Features: No Pool; Manager Res/Office
Exterior Amenities: Patio/Balcony
Interior Amenities: Unfurnished; Fire/Smoke Alarm(s)
Appliances Included: Free-Standing Range; Washer/Dryer; W/D Hookup
Heating: Heat Pump
Cooling: Individual
Water Source: City Franchise; Individual Meter
Sewer: Sewer - Public
Electric: SRP
Gas: None
Parking Features: >1 Space Per Unit; Add'l Parking Avail; Assigned; Free; Paved
Owner Pays: Trash Collection; Landscaping
Tenant Pays: Water; Electricity
Source of Fincl Data: Owner
Showing Notification Methods: Text; Email; Phone Call
Lockbox Type: None
Existing 1st Loan: Treat as Free&Clear
New Financing: Conventional; Owner May Carry
Environmental: None
Listing Office: Orion Investment Real Estate
Last Updated: July - 05 - 2023
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