648 W RAY Road, Chandler, AZ 85225
$8,670,000
Property Type: Multiple Dwellings Status: Closed
Current Price: $8,670,000 Last Modified: 7/05/2023
More Information MLS# 6546181
Contract Info
Ownership: Fee Simple Current Price: $8,670,000 Sold Price: $8,670,000 Status: Closed List Date: 2023-03-20
Location, Tax & Legal
Assessor's Map #: 43 Legal Description (Abbrev): SE4 SW4 EX S 50F RD & EX ANY PT LY W/IN COLLEGE P ARK VI & EX E 240F TH/OF Assessor's Parcel #: 5 Assessor Parcel Ltr: B Add'l Parcels: No Tax Municipality: Chandler Census Tract: 523003 Taxes: 14869 Legal: SE4 SW4 EX S 50F RD & EX ANY PT LY W/IN COLLEGE P ARK VI & EX E 240F TH/OF Marketing Name: Jamestown Apartments Map Code/Grid: T38 House Number: 648 Compass: W Street Name: RAY St Suffix: Road City/Town Code: Chandler State/Province: AZ Zip Code: 85225 Zip4: 7268 County Code: Maricopa Assessor Number: 302-43-005-B Tax Year: 2022
General Property Description
# of Buildings: 10 Uncvrd Parking Spcs: 26 Lot Size Dimensions: Normal Total # of Units: 34 Elementary School District: Chandler Unified District High School District: Chandler Unified District Year Built: 2016 Zoning: MF-3
Legal Info
Range: 5E Section: 21 Township: 1S Lot Number: -
Project Type
25 - 50 Units: 1
Construction
Wood Frame: 1 Brick: 1
Const - Finish
Painted: 1 Brick Veneer: 1
Roofing
Composition: 1
Floors
Vinyl: 1 Ceramic Tile: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Elec Exp: 10294 Annual Landscape Exp: 5980 Annual Maint Exp: 94000 Annual Trash Exp: 6176 Annual Wtr/Swr Exp: 7744 Owner Association: No Annual Ownr Asoc Fee: 0 Operating Exp: 139063 Other Income: 0 Vacancy Allowance: 0.05 Adjusted Gross Inc: 256156.1
Pmt & Rate Info
Cap Rate: 0.67 Equity: 9500000 Down Payment %: 0 Monthly Payments: 0 Total Owed: 0
Showing Notification Methods
Text: 1 Email: 1 Phone Call: 1
Lockbox Type
None: 1
Community Features
No Pool: 1 Manager Res/Office: 1
Heating
Heat Pump: 1 Electric: 1
Cooling
Individual: 1
Exterior Amenities
Patio/Balcony: 1
Interior Features
Unfurnished: 1 Fire/Smoke Alarm(s): 1
Tenant Pays
Water: 1 Electricity: 1
Appliances Included
Free-Standing Range: 1 Washer/Dryer: 1 W/D Hookup: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1 Individual Meter: 1
Sewer
Sewer - Public: 1
Parking Features
Free: 1 >1 Space Per Unit: 1 Paved: 1 Add'l Parking Avail: 1 Assigned: 1
Electric
SRP: 1
Gas
None: 1
Owner Pays
Sewer: 1 Trash Collection: 1 Landscaping: 1
New Financing
Conventional: 1 Owner May Carry: 1
Existing 1st Loan
Treat as Free&Clear: 1
Reports/Disclosures
Boundary Survey Avlb: 1 ALTA Survey Availbl: 1
Environmental
None: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
# 2 Bedroom Units: 34 Avg Rent: 860 Avg SqFt: 975 # Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Carryback Loan Years: 10 Closing Cost Split: Normal - N Payment Type: Interest Only Buyer Concession to Seller: 0 Buyer Concession $/%: $ Seller Concession to Buyer: 0 Seller Concession $/%: $
Remarks Misc
Geo Lat: 33.321053 Geo Lon: -111.85188
Status Change Info
Off Market Date: 2023-07-05 Under Contract Date: 2023-03-20 Close of Escrow Date: 2023-06-30 Sold Price: $8,670,000
Income Expenses
Gross Annual Sch Inc: 269638 Net Operating Income: 64113
Property Features
Project Type: 25 - 50 Units Construction: Wood Frame; Brick Const - Finish: Painted; Brick Veneer Roofing: Composition Floors: Vinyl; Ceramic Tile Sale Includes: Land & Building Community Features: No Pool; Manager Res/Office Exterior Amenities: Patio/Balcony Interior Features: Unfurnished; Fire/Smoke Alarm(s) Appliances Included: Free-Standing Range; Washer/Dryer; W/D Hookup Heating: Heat Pump Cooling: Individual Water Source: City Franchise; Individual Meter Sewer: Sewer - Public Electric: SRP Gas: None Parking Features: >1 Space Per Unit; Add'l Parking Avail; Assigned; Free; Paved Road Surface Type: Asphalt Owner Pays: Trash Collection; Landscaping Tenant Pays: Water; Electricity Source of Fincl Data: Owner Showing Notification Methods: Text; Email; Phone Call Lockbox Type: None Existing 1st Loan: Treat as Free&Clear New Financing: Conventional; Owner May Carry Environmental: None
Listing Office: Orion Investment Real Estate
Last Updated: July - 05 - 2023
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