318 Washington StChandler, AZ 85225

  • Residential income properties
  • 1,675 SF
For Sale
$639,900 View listing

Property Details for 318 Washington St

Year built
1969
Property size (Sq ft)
1,675 SF
Property type
Residential income properties
Property subtype
Multifamily properties

Description

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.

318 Washington St, Chandler, Arizona

Location Insight

City
Chandler
County
Maricopa
State
Arizona
Latitude
33.3084
Longitude
-111.84

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].