Residential Income Property with Community
For Sale
$399,500
900 S CANAL Drive 206, Chandler, AZ 85225
The 2016 townhome offers three bedrooms, an open great-room layout, and access to a community pool, spa, and workout facility.
Property Size1,833 SF
Price / SF$217.95
Days on Market213
Property Features for 900 S CANAL Drive 206
General Information
Standard status
Active
Size
1,833 SF
Total Parking Spaces
2
Property subtype
Apartment
Additional Details
Highway Access
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,657
Amenities
pool
spa
fitness center
gated community
patio
Building Details
Building Size
1,833 SF
Year Built
2016
Listing Agency:
Mike Steck
Listed By:
Steck Residential
(480) 298-2339
Source:
Soldbysteck
Added: Apr 3
Changed: Oct 31
Last Checked: Oct 31 at 2:23PM
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 Mike Steck
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Investment Insights
Based on property information with market context.
Built in 2016, this 1,833-square-foot townhome has three bedrooms and an open great-room layout. The kitchen includes an oversized island and GE appliances. The main bedroom is set apart from the other two bedrooms and the additional bathroom; all three bedrooms have upgraded closet storage. The main bedroom also features a walk-in closet with custom organization. Recent interior updates include new carpet and paint, and the two-car garage has an epoxy finish. A patio faces the greenbelt.
The home is in the gated Che Bella community, which includes a pool, spa, and workout facility. Shops, restaurants, and the 202 are nearby.
The home is in the gated Che Bella community, which includes a pool, spa, and workout facility. Shops, restaurants, and the 202 are nearby.
Key Highlights
- 1,833‑square‑foot, three‑bedroom townhome built in 2016
- Gated Che Bella community with pool, spa, and workout facility
- Oversized kitchen island and GE appliance package
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,921
Cap Rate
5.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$418,420
$418.4K
Cap Rate 7%
$298,871
$298.9K
Cap Rate 9%
$232,456
$232.5K
Market Conditions
NOI Build-Up for 1,833 SF
Gross rent
$40.3K $21.96/SF
− Vacancy
−$2.2K −$1.21/SF
EGI
$38.0K $20.75/SF
− OpEx
−$17.1K −$9.34/SF
NOI
$20.9K $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%
$418,420
Cap Rate 7%
$298,871
Cap Rate 9%
$232,456
Alternative Uses
Best Use
Apartment 5plus
$298.9K
$261.5K – $348.7K
NOI $20,921 @ 7.0% cap · market cap 5.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$525.4K
$459.7K – $613.0K
NOI $36,777 @ 7.0% cap · market cap 9.21%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
526
Businesses Nearby
Explore this area
Business Placement
Demographics for 85225, AZ
73,551
Population
28,930
Households
2.5
Avg Household Size
35
Median Age
33%
College-Educated
88%
High-School Grad
12.7 sq mi
ZIP Area
5,791
Density / Sq Mi
$86,036
Median Household Income
$45,692
Median Earnings
$1,662
Median Rent
$386,800
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The 2016 townhome offers three bedrooms, an open great-room layout, and access to a community pool, spa, and workout facility.
Where is this residential income property located?
The property is located at 900 S CANAL Drive 206 Chandler, AZ.
What is the asking price?
The asking price for this property is $399,500.
What are key features of this property?
This property features: 1,833‑square‑foot, three‑bedroom townhome built in 2016; Gated Che Bella community with pool, spa, and workout facility; Oversized kitchen island and GE appliance package
