Historical Multifamily Sale Listing - Morelos Apartments (Short Sale)

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Morelos Apartments (Short Sale)

185 W. Morelos St., Chandler, AZ 85225

N/A

12 Units | Multifamily

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Multifamily Property - Off Market

Price:
N/A
No. Units:
12
Building Size:
5,282 SF
Property Type:
Multifamily
Property Sub-type:
Garden/Low-Rise
Property Use Type:
Investment
Cap Rate:
9.30%
Gross Rent Multiplier:
7
Occupancy:
100%
No. Stories:
1
Year Built:
1933
Lot Size:
15,620 SF
APN / Parcel ID:
303-62-085, 6
Listing ID
15758083
Last Updated
over 1 year ago

Highlights

  • History of High Occupancy
  • Master Metered
  • High Rental-Demand Area
  • Upside Potential
  • Evaporative Cooling
  • On-Site Laundry

Description

SHORT SALE!!! Location Location location. The Morelos Apartments are located in Chandler, one of the fastest growing cities in the U.S. with an annual population growth rate of 5%! This is a high-rental-demand area and is dominated by Motorola and Intel as a hot bed for electronic technology manufacturing.

The apartments are cute, well-kept, easily rented and offer affordable rental rates. The property has a history of strong occupancy plus current rents are below market. The property would be perfect for a local owner. The single-level, block construction with evaporative cooling offers an owner low-cost maintenance. The property consists mostly of one-bedroom units surrounding a central shaded courtyard.

Morelos Apartments are located in a strong rental sub-market in a quiet Chandler neighborhood. The property is near Pecos & Arizona Ave. and within a half mile to the Loop 202.

Take the 202 east from the Loop 101 to north on Arizona Ave., go west on Pecos Road to Palm Ln. then north on Palm Ln. to Morelos St., then east to property.

Map of 185 W. Morelos St., Chandler, AZ 85225 (Maricopa County)

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