761 Delaware St Chandler, AZ 85225

Property Details for 761 Delaware St

Year built

1960

Property type

Commercial real estate

APN

302-66-109F

Description

This stabilized multifamily investment opportunity presents a remarkable chance to acquire a well-maintained duplex in the heart of Chandler, Arizona. The property, located at 761 N Delaware St, boasts two units within a two-story building constructed in 1960. The building features solid masonry construction, providing durability and longevity. Each unit includes ample private patio space, washer/dryer hookups, all-tile flooring, and a full bath with a tub. One unit is currently occupied by a long-term tenant paying $1,275 per month, demonstrating consistent rental income. The second unit is vacant, offering immediate potential to increase revenue by securing a new tenant at market rate (previously rented for $1,500). The property includes three parking spaces per unit. The total net rentable square footage is 1,144 square feet, generating a current NOI of $25,542, resulting in a 5.68% cap rate. The roof is approximately five years old, and the air conditioning units are regularly serviced. The property is zoned MF-1 and has a Maricopa County APN of 302-66-109F. The asking price is $450,000, representing a price per unit of $225,000. All information is approximate; potential buyers are encouraged to conduct their own due diligence.