Renovated Quadplex
For Sale
Contact for pricing
950 West Erie Street, Chandler, AZ 85225
Two-level residences include in-unit laundry, storage access, and covered parking.
Property Size8,312 SF
Price / SF$264.67
Days on Market55
Property Features for 950 West Erie Street
General Information
Standard status
Active
Size
8,312 SF
Class
B
Total Parking Spaces
19
Property subtype
Multifamily
Occupancy
100%
Net Operating Income
$114,933
Units
Unit Mix
8 x 2BR/1.5BA
Multifamily Units
8
Parking per Unit
2
Amenities
storage units
in-unit laundry
Building Details
Year Built
1983
Year Renovated
2025
Buildings
2
Units
8
Tenancy
Multi
Listing Agency:
eXp Realty Arizona
Listed By:
David Mendel · License #AZ SA516914000
(602) 291-3283
Source:
Crexi
Added: Aug 27
Changed: Oct 4
Last Checked: Oct 19 at 7:32AM
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 eXp Realty Arizona
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Investment Insights
Based on property information with market context.
The property comprises two fourplexes situated on separate residential lots, with a combined 8312 SF of improvements built in 1983. Each residence provides a 1,039 SF, two-bedroom, one-and-a-half-bath layout arranged across two levels. Three units have been renovated with new flooring, cabinetry, quartz countertops, updated lighting, ceiling fans, and modern appliances.
On-site amenities include five storage units, in-unit laundry, two covered parking spaces per residence, and three additional covered spaces for guests. The property is located at 950 West Erie Street in Chandler, Arizona, within the 85225 ZIP code.
On-site amenities include five storage units, in-unit laundry, two covered parking spaces per residence, and three additional covered spaces for guests. The property is located at 950 West Erie Street in Chandler, Arizona, within the 85225 ZIP code.
Key Highlights
- Two fourplexes on individual residential lots
- Each unit offers 1,039SF with a 2BD/1.5BA two‑level layout
- Three units renovated with updated finishes, lighting, appliances, and cabinetry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$109,191
Cap Rate
4.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,183,820
$2.2M
Cap Rate 7%
$1,559,871
$1.6M
Cap Rate 9%
$1,213,233
$1.2M
Market Conditions
NOI Build-Up for 8,312 SF
Gross rent
$164.6K $19.80/SF
− Vacancy
−$8.6K −$1.03/SF
EGI
$156.0K $18.77/SF
− OpEx
−$46.8K −$5.63/SF
NOI
$109.2K $13.14/SF
Area
Chandler, AZ
Vacancy
5.22%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,183,820
Cap Rate 7%
$1,559,871
Cap Rate 9%
$1,213,233
Alternative Uses
Best Use
Multifamily LT 5
$1.56M
$1.36M – $1.82M
NOI $109,191 @ 7.0% cap · market cap 4.96%
Second Best
Apartment 5plus
$1.36M
$1.19M – $1.58M
NOI $94,871 @ 7.0% cap · market cap 4.31%
Theoretical Best
Office A
$2.38M
$2.08M – $2.78M
NOI $166,772 @ 7.0% cap · market cap 7.58%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
1,213
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Two-level residences include in-unit laundry, storage access, and covered parking.
Where is this quadplex located?
The property is located at 950 West Erie Street Chandler, AZ.
What is the asking price?
The asking price for this property is $2,199,900.
What are key features of this property?
This property features: Two fourplexes on individual residential lots; Each unit offers 1,039SF with a 2BD/1.5BA two‑level layout; Three units renovated with updated finishes, lighting, appliances, and cabinetry
