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Multifamily

Maybell

864 E Chandler Blvd, Chandler, AZ 85225

Listing Price: $3,850,000

Cap Rate
3.00%
Number of Units
17
Price/Unit
$226,471
Price/Gross SF
$311.74
Gross SF
12,350

Investment Overview

MAYBELL is a 17-unit apartment community located just outside Downtown Chandler, right off the intersection of Chandler Boulevard and McQueen Road. The surrounding landscape presents the rapidly expanding Chandler economy offering an enormous amount of employment opportunities from top-tier employers and strong demographics outpacing the Phoenix MSA. Led by Fortune 1000 companies such as Intel, Northrop Grumman, General Motors, UnitedHealth Group, Microchip Technologies, and CVS Health, there is a rising tide of high-wage job throughout Chandler. The city's most significant employment corridors - Price, West Chandler, Chandler Airpark - are each less than a five-mile commute. The city of Chandler's overwhelmingly bright future is further supported by increasing capital investment and redevelopment efforts, as evidenced by the ±$20B expansion of Intel's Ocotillo Campus and the new mixed-use projects of Overstreet and New Square located downtown. Surrounding the abundant employment prospects, is a city-wide average household income of ±$117,400 and a median household income of ±$86,500, which are ±22% and ±25% higher than Greater Phoenix, respectively. Developed in 1962, Maybell's unit mix is heavily weighted towards two-bedroom floorplans (±82%), with the remaining units offering one bedroom. Future ownership will have the ultimate opportunity to renovate all 17 of the classic units to capitalize on an associated $300 rent premium based on the achieved rents of similar properties nearby.

Investment Highlights

  • Single-level, value add opportunity with 82% two-bedroom floorplans, individually-metered for electricity and +$300,000 of capital improvements over the past 5 years.
  • Rare opportunity for mid-sized apartment community in City of Chandler.
  • Low-density. Located on 1.58 AC of land with opportunity for future development/amenities.

Exclusively Listed By

Financing By

Listing Price: $3,850,000

Cap Rate
3.00%
Number of Units
17
Price/Unit
$226,471
Price/Gross SF
$311.74
Gross SF
12,350

Investment Highlights

  • Single-level, value add opportunity with 82% two-bedroom floorplans, individually-metered for electricity and +$300,000 of capital improvements over the past 5 years.
  • Rare opportunity for mid-sized apartment community in City of Chandler.
  • Low-density. Located on 1.58 AC of land with opportunity for future development/amenities.

Investment Overview

MAYBELL is a 17-unit apartment community located just outside Downtown Chandler, right off the intersection of Chandler Boulevard and McQueen Road. The surrounding landscape presents the rapidly expanding Chandler economy offering an enormous amount of employment opportunities from top-tier employers and strong demographics outpacing the Phoenix MSA. Led by Fortune 1000 companies such as Intel, Northrop Grumman, General Motors, UnitedHealth Group, Microchip Technologies, and CVS Health, there is a rising tide of high-wage job throughout Chandler. The city's most significant employment corridors - Price, West Chandler, Chandler Airpark - are each less than a five-mile commute. The city of Chandler's overwhelmingly bright future is further supported by increasing capital investment and redevelopment efforts, as evidenced by the ±$20B expansion of Intel's Ocotillo Campus and the new mixed-use projects of Overstreet and New Square located downtown. Surrounding the abundant employment prospects, is a city-wide average household income of ±$117,400 and a median household income of ±$86,500, which are ±22% and ±25% higher than Greater Phoenix, respectively. Developed in 1962, Maybell's unit mix is heavily weighted towards two-bedroom floorplans (±82%), with the remaining units offering one bedroom. Future ownership will have the ultimate opportunity to renovate all 17 of the classic units to capitalize on an associated $300 rent premium based on the achieved rents of similar properties nearby.

Exclusively Listed By

Financing By

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