Residential Income Property with
New
For Sale
$248,900
1126 W Elliot Rd #1036, Chandler, AZ 85224
Condominium residence pairs a flexible den with a covered outdoor area and access to a community pool and heated spa.
Property Size743 SF
Price / SF$334.99
Days on Market2
Property Features for 1126 W Elliot Rd #1036
General Information
Standard status
Active
Size
743 SF
Total Parking Spaces
1
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
1
Amenities
community pool
heated spa
Building Details
Year Built
1984
Listing Agency:
The Agency
(480) 878-3000
Listed By:
The Carin Nguyen Real Estate Network
(602) 832-7005
Source:
Azhomesold
Added: Oct 5
Changed: Oct 6
Last Checked: Oct 5 at 5:40PM
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 The Agency
Investment Insights
Based on property information with market context.
This 743-square-foot condominium residence, built in 1984, has one bedroom, a den or office, one bathroom, a rear-entry garage, and a covered private patio. Interior features include high ceilings, wood-look flooring, recessed kitchen lighting, white shaker cabinets, quartz countertops, tile backsplash, and stainless steel appliances. The living area has a tiled fireplace surround; the bedroom includes a walk-in closet with mirrored doors, and the bathroom has a custom-tiled shower. Laundry and additional storage closets are also provided. The AC/heat pump was installed in 2019.
Residents have access to a community pool and heated spa. The property is near shopping and dining, with access to Loop 101 via Elliot Road.
Residents have access to a community pool and heated spa. The property is near shopping and dining, with access to Loop 101 via Elliot Road.
Key Highlights
- 743 SF condominium residence with 1 bedroom, den/office, and 1 bathroom
- Rear‑entry garage and private covered patio
- AC/heat pump installed in 2019
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.
Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Highway 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
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Frequently Asked Questions
What type of property is this?
Residential income property - Condominium residence pairs a flexible den with a covered outdoor area and access to a community pool and heated spa.
Where is this residential income property located?
The property is located at 1126 W Elliot Rd #1036 Chandler, AZ.
What is the asking price?
The asking price for this property is $248,900.
What are key features of this property?
This property features: 743 SF condominium residence with 1 bedroom, den/office, and 1 bathroom; Rear‑entry garage and private covered patio; AC/heat pump installed in 2019
