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
IDX
Last Updated: July - 05 - 2023
Copyright 2025 Arizona Regional Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.
Search powered by FBS Products