This Multifamily Property is Off-Market.

185 W. Morelos St.
Chandler, AZ 85225 ·

12 Units · Multifamily For Sale

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Morelos Apartments (Short Sale)

Price N/A Gross Rent Multiplier 7
No. Units 12 Occupancy 100%
Building Size 5,282 SF No. Stories 1
Property Type Multifamily Year Built 1933
Property Sub-type Garden/Low-Rise Lot Size 15,620 SF
Property Use Type Investment APN / Parcel ID 303-62-085, 6
Cap Rate 9.30%
Listing ID: 15758083 Date Created: 06/13/2008 Last Updated: 10/05/2009

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.

Highlights

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

Research

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

Property Record Data - Historical Listings, current tax, mortgage, owners & tenant info for this property

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