185 W. Morelos St.
Chandler, AZ 85225 ·
12 Units · Multifamily For Sale
Morelos Apartments (Short Sale)
|Price||N/A||Gross Rent Multiplier||7|
|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|
|Listing ID: 15758083||Date Created: 06/13/2008||Last Updated: 10/05/2009|
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.
- History of High Occupancy
- Master Metered
- High Rental-Demand Area
- Upside Potential
- Evaporative Cooling
- On-Site Laundry
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