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217-221 N Elm St
Gilbert, AZ 85234
Eldorado Apartments · Multifamily Property For Sale
·
12 Units
Property Facts
| No. Units | 12 | Building Size | 9,360 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 1 |
| Apartment Style | Low-Rise | Year Built/Renovated | 1963/2016 |
| Building Class | C | Parking Ratio | 1.6/1,000 SF |
| Lot Size | 0.39 AC | ||
| Zoning | R-3, Gilbert | ||
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.39 AC |
| Building Size | 9,360 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1963/2016 |
| Parking Ratio | 1.6/1,000 SF |
| Zoning | R-3, Gilbert |
About 217-221 N ELM ST , GILBERT, AZ 85234
The El Dorado Apartments present multiple operational upside opportunities. The first being that rent levels are perceived as below market. We believe the release rate to be about 30% higher than current rental rates. Additionally, implementing RUBS ( water, sewer, and trash) billing would drive rental income an additional $25-$40 per unit per month. Thirdly, the property possesses a value-add opportunity through capital expenditures and renovations, as well as exterior upgrades. We believe post renovation rental rates will exceed $875 per unit. The highly sought after submarket presents a unique opportunity for immediate rental growth.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 12 | - | 780 |
Property Taxes
| Parcel Number | 304-11-082 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $16,744 |
Property Taxes
Parcel Number
304-11-082
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$16,744
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