$345,000
365 N ALMA SCHOOL Road B
Chandler, AZ 85224
MLS# 5655489
Status: Closed

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Property 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.

Details
Maps
Contract Info
Ownership: Fee Simple
Current Price: $345,000
Sold Price: $345,000
Status: Closed
List Date: 2017-08-25
Location, Tax & Legal
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
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
Country: US
County Code: Maricopa
Subdivision: OWNERS PLAT
Assessor Number: 302-52-004-B
Tax Year: 2016
General Property Description
# of Buildings: 2
Uncvrd Parking Spcs: 5
Lot Size Dimensions: 10533
Total # of Units: 4
Elementary School District: Chandler Unified District
High School District: Chandler Unified District
Year Built: 1963
Zoning: Multi
Legal Info
Range: 5E
Section: 28
Township: 1S
Lot Number: 1
Project Type
Four Plex: 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Composition: 1
Floors
Vinyl: 1
Carpet: 1
Sale Includes
Building(s) Only: 1
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: 1
Heating
Heat Pump: 1
Electric: 1
Central: 1
Cooling
Ceiling Fan(s): 1
Electric: 1
2 or More Units: 1
Tenant Pays
Gas: 1
Electricity: 1
Cable TV: 1
Appliances Included
Refrigerator: 1
Free-Standing Range: 1
Road Surface Type
Asphalt: 1
Concrete: 1
Source of Fincl Data
Owner: 1
Projected Proforma: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
Carport: 1
On Street: 1
<1 Space Per Unit: 1
Paved: 1
Add'l Parking Avail: 1
Electric
SRP: 1
Individual Meter: 1
Gas
SW Gas: 1
Submetered System: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
New Financing
No Carry: 1
Owner May Carry: 1
Existing 1st Loan
Conventional: 1
Existing 1st Loan Type
Fixed: 1
Existing 1st Loan Terms
Non Assumable: 1
Existing 2nd Loan
Treat as Free&Clear: 1
Existing 2nd Loan Type
Not Applicable: 1
Existing 2nd Loan Terms
Not Applicable: 1
Existing 3rd Loan
Treat as Free&Clear: 1
Existing 3rd Loan Type
Not Applicable: 1
Reports/Disclosures
None: 1
Existing 3rd Loan Terms
Not Applicable: 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Contact Info
List Agent Home Phn: 602-265-6617
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
# 2 Bedroom Units: 4
Avg Rent: 625
Avg SqFt: 800
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Conventional
Closing Cost Split: Normal - N
Payment Type: Fixed
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 0
Seller Concession $/%: $
Remarks Misc
Cross Street: Alma School & Erie
Directions: Just north of Chandler and South of Erie
Geo Lat: 33.309033
Geo Lon: -111.85882
Status Change Info
Off Market Date: 2017-09-02
Under Contract Date: 2017-08-25
Close of Escrow Date: 2017-09-01
Sold Price: $345,000
Income Expenses
Gross Annual Sch Inc: 29028
Net Operating Income: 18222.1
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
IDX
Listing Office: Better Homes & Gardens Real Estate SJ Fowler

Last Updated: September - 03 - 2017

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