The Avenue Apartment Homes | 498 N Arizona Ave
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The Avenue Apartment Homes 498 N Arizona Ave
13 Unit Apartment Building $3,652,168 CAD ($280,936 CAD/Unit) 6.59% Cap Rate Chandler, AZ 85225
Investment Highlights
- Multifamily Investment Opportunity in Chandler, Arizona
Executive Summary
EXCLUSIVELY LISTED BY ORION INVESTMENT REAL ESTATE'S Jackson Everhart, Vice President -
This 13-unit property in Chandler, Arizona presents an exceptional investment opportunity in a high-barrier-to-entry market. Featuring a spacious courtyard that fosters a strong sense of community, the property has undergone substantial upgrades, including improvements to plumbing, electrical systems, the roof, and the exterior. Additionally, 8 of the units have been fully renovated and now include in-unit washers and dryers. The remaining 5 units offer a value-add potential for further renovations while still generating positive cash flow.
Downtown Chandler has experienced significant growth and investment over the past five years, focusing on retail, office, and hospitality sectors. This development has led to a shortage of affordable housing for the local workforce. With strong demographics, including a household income exceeding $125,000, there is a growing demand for quality housing. The property’s proximity to Chandler High School, a major educational institution, further attracts families seeking nearby accommodation. As more families move to Chandler, the need for well-maintained and affordable housing continues to rise.
Considering these factors, this property offers a prime opportunity for investors seeking strong cash flow in a high demand market with substantial entry barriers. The property is notably low maintenance, requiring minimal operational costs and management time. With potential for additional renovations, it represents a unique and valuable investment prospect.
This 13-unit property in Chandler, Arizona presents an exceptional investment opportunity in a high-barrier-to-entry market. Featuring a spacious courtyard that fosters a strong sense of community, the property has undergone substantial upgrades, including improvements to plumbing, electrical systems, the roof, and the exterior. Additionally, 8 of the units have been fully renovated and now include in-unit washers and dryers. The remaining 5 units offer a value-add potential for further renovations while still generating positive cash flow.
Downtown Chandler has experienced significant growth and investment over the past five years, focusing on retail, office, and hospitality sectors. This development has led to a shortage of affordable housing for the local workforce. With strong demographics, including a household income exceeding $125,000, there is a growing demand for quality housing. The property’s proximity to Chandler High School, a major educational institution, further attracts families seeking nearby accommodation. As more families move to Chandler, the need for well-maintained and affordable housing continues to rise.
Considering these factors, this property offers a prime opportunity for investors seeking strong cash flow in a high demand market with substantial entry barriers. The property is notably low maintenance, requiring minimal operational costs and management time. With potential for additional renovations, it represents a unique and valuable investment prospect.
Property Facts
| Price | $3,652,168 CAD | Apartment Style | Low Rise |
| Price Per Unit | $280,936 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.34 AC |
| Cap Rate | 6.59% | Building Size | 8,200 SF |
| No. Units | 13 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1948 |
| Property Subtype | Apartment | Parking Ratio | 1.95/1,000 SF |
| Price | $3,652,168 CAD |
| Price Per Unit | $280,936 CAD |
| Sale Type | Investment |
| Cap Rate | 6.59% |
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 8,200 SF |
| No. Stories | 1 |
| Year Built | 1948 |
| Parking Ratio | 1.95/1,000 SF |
Unit Amenities
- Air Conditioning
- Heating
- Ceiling Fans
- Tile Floors
- Refrigerator
- Range
- Vinyl Flooring
- Window Coverings
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Smoke Free
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | - | 525 - 538 |
| 2+1 | 5 | - | 800 |
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Walk Score ®
Very Walkable (84)
PROPERTY TAXES
| Parcel Number | 302-59-117 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $57,015 CAD |
PROPERTY TAXES
Parcel Number
302-59-117
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$57,015 CAD
zoning
| Zoning Code | C-3, Chandler |
| C-3, Chandler |
-
Jackson Everhart -
ORION Investment Real Estate
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The Avenue Apartment Homes | 498 N Arizona Ave
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