868 S Arizona Ave | Chandler, AZ 85225
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- LoopNet Team
868 S Arizona Ave
Chandler, AZ 85225
Artisan at Downtown Chandler · Multifamily Property For Sale
·
374 Units
INVESTMENT HIGHLIGHTS
- 374 units with Extensive amenity package located at The Entrance to Chandler’s Downtown District
- 20.4% annual Net Rental Income growth (Oct-22 to Oct-21)
- Previous owner spent $1.7M curing major deferred maintenance & $3.2M modernizing amenities
- 113 of 374 units have been fully upgraded (30%) with renovated rents $380 over classic
- Recent tradeouts averaging 21.2% on New Leases and 8.6% on Renewals
- Over 850,000 jobs in the commute shed including Fortune 500 companies: Intel Corp, Northrop Grumman, PayPal, Honeywell, Wells Fargo, Bank of America
PROPERTY FACTS
| No. Units | 374 | Building Size | 355,300 SF |
| Property Type | Multifamily | Average Occupancy | 83% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built/Renovated | 1985/2006 |
| Building Class | B | Parking Ratio | 1.27/1,000 SF |
| Lot Size | 10.89 AC | ||
| Zoning | PAD - Planned Area Development | ||
| No. Units | 374 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 10.89 AC |
| Building Size | 355,300 SF |
| Average Occupancy | 83% |
| No. Stories | 2 |
| Year Built/Renovated | 1985/2006 |
| Parking Ratio | 1.27/1,000 SF |
| Zoning | PAD - Planned Area Development |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Disposal
- Ceiling Fans
- Hardwood Floors
- High Speed Internet Access
- Range
- Views
- Wheelchair Accessible (Rooms)
SITE AMENITIES
- Business Center
- Courtyard
- Fitness Center
- Laundry Facilities
- Picnic Area
- Playground
- Property Manager on Site
- Spa
- Tennis Court
- Grill
- Laundry Service
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 121 | - | 327 |
| 1+1 | 247 | - | 418 |
| 2+1 | 6 | - | 836 |
PROPERTY TAXES
| Parcel Number | 303-62-044C | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,818,946 |
PROPERTY TAXES
Parcel Number
303-62-044C
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,818,946
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