Condominium with Covered
For Sale
$248,800
1126 W ELLIOT Road 1036, Chandler, AZ 85224
The one-bedroom residence includes a den or office, rear-entry garage, and access to a community pool and heated spa.
Property Size743 SF
Days on Market14
Property Features for 1126 W ELLIOT Road 1036
General Information
Standard status
Active
Size
743 SF
Total Parking Spaces
2
Property subtype
Apartment
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$649
Amenities
pool
heated spa
private covered patio
laundry closet
fireplace
Building Details
Building Size
743 SF
Year Built
1984
Listing Agency:
HomeSmart
Listed By:
Amy Laidlaw · License #SA037496000
(602) 695-1142
Source:
Gillettegroupaz
Added: Oct 4
Changed: Oct 16
Last Checked: Oct 16 at 2:21PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of HomeSmart
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1984, this condominium offers one bedroom, a den or office, and one bathroom. Interior features include high ceilings, wood-look flooring, a fireplace, and a kitchen with quartz counters, white shaker cabinets, tile backsplash, and stainless steel appliances. A walk-in closet, laundry closet, and additional storage closets provide utility. The home also has a covered patio, rear-entry garage, and one additional parking space. Its AC/heat pump was installed in 2019.
Residents have access to a community pool and heated spa. Shopping and dining are nearby, and Loop 101 is accessible via Elliot Road.
Residents have access to a community pool and heated spa. Shopping and dining are nearby, and Loop 101 is accessible via Elliot Road.
Key Highlights
- One bedroom plus den or office and one bathroom
- Rear‑entry garage and an additional parking space
- Covered patio and community pool with heated spa
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,480
Cap Rate
3.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$169,600
$169.6K
Cap Rate 7%
$121,143
$121.1K
Cap Rate 9%
$94,222
$94.2K
Market Conditions
NOI Build-Up for 743 SF
Gross rent
$16.3K $21.96/SF
− Vacancy
−$897 −$1.21/SF
EGI
$15.4K $20.75/SF
− OpEx
−$6.9K −$9.34/SF
NOI
$8.5K $11.41/SF
Area
Chandler, AZ
Vacancy
5.50%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$169,600
Cap Rate 7%
$121,143
Cap Rate 9%
$94,222
Alternative Uses
Best Use
Apartment 5plus
$121.1K
$106.0K – $141.3K
NOI $8,480 @ 7.0% cap · market cap 3.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$213.0K
$186.4K – $248.5K
NOI $14,908 @ 7.0% cap · market cap 5.99%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
1
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
422
Businesses Nearby
Explore this area
Business Placement
Demographics for 85224, AZ
46,919
Population
21,559
Households
2.2
Avg Household Size
38
Median Age
40%
College-Educated
94%
High-School Grad
9.4 sq mi
ZIP Area
4,991
Density / Sq Mi
$90,886
Median Household Income
$53,408
Median Earnings
$1,785
Median Rent
$391,000
Median Home Value
Frequently Asked Questions
What type of property is this?
Residential income property - The one-bedroom residence includes a den or office, rear-entry garage, and access to a community pool and heated spa.
Where is this residential income property located?
The property is located at 1126 W ELLIOT Road 1036 Chandler, AZ.
What is the asking price?
The asking price for this property is $248,800.
What are key features of this property?
This property features: One bedroom plus den or office and one bathroom; Rear‑entry garage and an additional parking space; Covered patio and community pool with heated spa
