For Sale
$450,000

761 Delaware StChandler, AZ 85225

Solid 2-unit building, high ROI.

Overview

Added:
Dec 11, 2024
Days on market:
116
This stabilized multifamily investment opportunity presents a remarkable chance to acquire a well-maintained duplex in the heart of Chandler, Arizona. The property, located at 761 N Delaware St, boasts two units within a two-story building constructed in 1960. The building features solid masonry construction, providing durability and longevity. Each unit includes ample private patio space, washer/dryer hookups, all-tile flooring, and a full bath with a tub. One unit is currently occupied by a long-term tenant paying $1,275 per month, demonstrating consistent rental income. The second unit is vacant, offering immediate potential to increase revenue by securing a new tenant at market rate (previously rented for $1,500). The property includes three parking spaces per unit. The total net rentable square footage is 1,144 square feet, generating a current NOI of $25,542, resulting in a 5.68% cap rate. The roof is approximately five years old, and the air conditioning units are regularly serviced. The property is zoned MF-1 and has a Maricopa County APN of 302-66-109F. The asking price is $450,000, representing a price per unit of $225,000. All information is approximate; potential buyers are encouraged to conduct their own due diligence.

Highlights

  • $450,000 asking price for a stabilized multifamily investment.
  • Downtown Chandler duplex with two units, each priced at $225,000.
  • 1,144 square feet of net rentable space.
  • 5.68% cap rate and NOI of $25,542.
  • 50% occupancy, with one unit currently rented at $1,275/month and a second unit vacant, previously rented at $1,500/month.
  • Built in 1960, this two-story building sits on a 302-66-109F APN lot in Chandler, Arizona (85225).

Property Details for 761 Delaware St

Property type
Apartment buildings
Year Built
1960
Buildings
1
Stories
2
Units
2

Location Insight

City
Chandler
County
Maricopa
State
Arizona
Latitude
33.316334540823
Longitude
-111.83724633044
761 Delaware St, Chandler, Arizona

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761 Delaware St
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