498 Arizona Ave, Chandler, AZ 85225-5069

This stabilized, 13-unit apartment building presents a compelling investment opportunity in Chandler, Arizona. Located at 498 N Arizona Ave, 85225, this Class C property boasts 8,200 square feet on a 0.34-acre lot (APN 302-59-117). Built in 1948 and zoned C-3, Phoenix, the property features a charming courtyard and has undergone significant upgrades, including improvements to plumbing, electrical systems, the roof, and exterior. Eight units have been fully renovated, including the addition of in-unit washers and dryers, while the remaining five units offer value-add potential. The property enjoys a 6.59% cap rate and is currently listed at $2,600,000. Situated near downtown Chandler and Chandler High School, this complex benefits from a high-demand market with a significant shortage of affordable housing and strong demographics, including household incomes exceeding $125,000. The property's low maintenance requirements and substantial existing cash flow make it an attractive prospect for investors seeking minimal operational costs and management time. The property's location in a rapidly growing area with substantial recent investment in retail, office, and hospitality sectors further enhances its investment potential. This is a rare opportunity to acquire a well-maintained, cash-flowing apartment building in a highly desirable location with significant upside potential.