For Sale
$639,900

318 Washington StChandler, AZ 85225

Updated Duplex, High ROI Potential

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a charming, updated duplex located in the heart of Chandler, Arizona. Boasting a prime location within walking distance of Downtown Chandler's vibrant atmosphere and situated in a desirable historic neighborhood, this property offers significant potential for both owner-occupancy and rental income. The 1969-built, single-story building underwent a complete renovation in 2022, featuring two 2-bedroom, 1-bathroom units, each with its own laundry facilities. One unit currently commands a monthly rent of $1,950, while the second unit is ready for immediate occupancy, offering flexibility for either long-term rental or owner-use. The rear unit includes a bonus 450-square-foot room with a separate exterior entrance, ideal for a home office, workshop, or additional bedroom. Modern amenities include laminated flooring in living areas and bedrooms, tile in kitchens and bathrooms, security systems on all doors, and keyless entry pads. The property sits on a spacious 7,449-square-foot lot, providing ample space and potential for future expansion. With a total square footage of 1,675 square feet and a net rentable area of 2,125 square feet, this property offers a compelling 5.40% cap rate and a strong NOI of $34,522. The asking price is $639,900, representing a price per unit of $319,950. The property is zoned MF-1 and includes two parking spaces per unit. This is a rare opportunity to acquire a well-maintained, high-performing multifamily property in a thriving Arizona market. All information is approximate; buyers are encouraged to verify details independently.

Highlights

  • $639,900 asking price for a 2-unit apartment building in Chandler, AZ.
  • Multifamily investment property, owner-user opportunity, suitable for Airbnb.
  • Class C property, 1,675 square feet, 2,125 square feet net rentable.
  • 5.40% cap rate, $34,522 NOI.
  • Currently vacant, two units, each with two bedrooms and one bath.
  • Built in 1969, renovated in 2022, situated on a 7,449 square foot lot.

Property Details for 318 Washington St

Property type
Apartment buildings
Square Feet
1,675 SF
Class
C
Year Built/Renovated
1969/2022
Buildings
1
Stories
1
Units
2

Location Insight

City
Chandler
County
Maricopa
State
Arizona
Latitude
33.3084123
Longitude
-111.8404398
318 Washington St, Chandler, Arizona

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318 Washington St
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