480-442-0779

950 W Erie Street, Chandler, AZ 85225 (MLS# 6993532)

950 W Erie Street, Chandler, AZ 85225

$2,250,000
Property Type: Multiple Dwellings Status: Active
Current Price: $2,250,000 Last Modified: 4/03/2026

Overview

Description

JUST REDUCED! Terrific investment opportunity features two meticulously maintained fourplexes on individual residential lots, w/ potential for residential financing! Each unit has a spacious 1,039 sq. ft. 2BD/1.5BA layout on two levels.There are three renovated units with new flooring, cabinets, quartz counters, lighting, ceiling fans & appliances. There are five storage units & in-unit laundry for further income potential. There are also two covered parking spaces per unit & three additional covered guest spaces. Just two owners! The original owner built the ''Bravo'' in the mid-1980's, managed & maintained it for 40+ years! The current owner has improved on an already impressive property, offering a fantastic investment opportunity w/ tons of value-add potential. Reach out for more info.

Listing Details MLS# 6993532

Location, Tax & Legal

House Number
950
Compass
W
Street Name
Erie
St Suffix
Street
City/Town Code
Chandler
State/Province
AZ
Zip Code
85225
Zip4
4497
County Code
Maricopa
Assessor Number
302-51-049-C
Tax Year
2025
Assessor's Map #
51
Legal Description (Abbrev)
BEG SW COR SW4 NW4 SW4 SEC 28 TH N 89D 48M E 265F TO POB TH N 165.20F TH N 89D 49M E 95F TH S 165
Assessor's Parcel #
49
Assessor Parcel Ltr
C
Add'l Parcels
Yes
Tax Municipality
Chandler
Census Tract
523002
Taxes
1974
Legal
302-51-049-C & 302-51-049-D
Marketing Name
Bravo at Alma School

Contract Info

Ownership
Fee Simple

General Property Description

Lot Size Dimensions
95X133 (lot C) -AND- 105X133 (lot D)
Year Built
1983
Total # of Units
8
# of Buildings
2
Zoning
PAD
Elementary School District
Chandler Unified District #80
High School District
Chandler Unified District #80
Elementary School
Hartford Sylvia Encinas Elementary
Jr. High School
John M Andersen Jr High School
High School
Chandler High School
Uncvrd Parking Spcs
0

Remarks Misc

Cross Street
Alma School Rd & Chandler Blvd
Directions
North to Erie Street, East to property

Legal Info

Township
1S
Range
5E
Section
28
Lot Number
N/A

Income Expenses

Gross Annual Sch Inc
133264
Net Operating Income
72420

More Information

Showing Notification Methods

Showing Service
No Showing Service Used

2 Bedroom Units

# 2 Bedroom Units
8
Avg Rent
1409
Avg SqFt
1039
# Baths
2

Project Type

5 - 12 Units
Yes

Construction

Block
Yes
Wood Frame
Yes

Const - Finish

Painted
Yes
Stucco
Yes

Roofing

Tile
Yes

Floors

Tile
Yes
Vinyl
Yes
Carpet
Yes

Sale Includes

Land & Building
Yes
Laundry Equipment
Yes

Income & Expenses

Annual Elec Exp
720
Annual Landscape Exp
3000
Annual Maint Exp
4800
Annual Wtr/Swr Exp
3648
Owner Association
No
Annual Ownr Asoc Fee
0
Operating Exp
14142
Other Income
7200
Vacancy Allowance
0.05
Adjusted Gross Inc
133440.8

Pmt & Rate Info

Cap Rate
3.22
Equity
2250000
Down Payment %
0
Monthly Payments
0
Total Owed
0

Lockbox Type

None
Yes

Community Features

No Pool
Yes

Heating

Electric
Yes

Cooling

Central Air
Yes

Exterior Amenities

Desert Landscaping
Yes
Cable TV Available
Yes
Patio/Balcony
Yes
Separate Storage
Yes
Security Light(s)
Yes

Tenant Pays

Electricity
Yes

Appliances Included

Dishwasher
Yes
Disposal
Yes
Free-Standing Electric Oven
Yes
Microwave
Yes
Refrigerator
Yes
Washer/Dryer
Yes

Road Surface Type

Asphalt
Yes

Source of Fincl Data

Owner
Yes

Road Responsibility

City Maintained Road
Yes

Water Source

City Franchise
Yes

Sewer

Sewer - Public
Yes
Sewer-In & Connected
Yes

Parking Features

Carport
Yes
>1 Space Per Unit
Yes

Electric

APS
Yes

Gas

None
Yes

Owner Pays

Water
Yes
Sewer
Yes
Trash Collection
Yes
Landscaping
Yes

New Financing

Cash
Yes
Conventional
Yes

Reports/Disclosures

Seller Prop Disc Stm
Yes

Environmental

None
Yes

Efficiency Units

Avg Rent
0

1 Bedroom Units

Avg Rent
0

3 Bedrooms Units

Avg Rent
0

4 Bedrooms Units

Avg Rent
0

Property Features

Project Type: 5 - 12 Units Construction: Block; Wood Frame Const - Finish: Painted; Stucco Roofing: Tile Floors: Tile; Vinyl; Carpet Sale Includes: Land & Building; Laundry Equipment Community Features: No Pool Exterior Amenities: Desert Landscaping; Cable TV Available; Patio/Balcony; Separate Storage; Security Light(s) Appliances Included: Free-Standing Electric Oven; Refrigerator; Dishwasher; Disposal; Microwave; Washer/Dryer Cooling: Central Air Water Source: City Franchise Sewer: Sewer - Public; Sewer-In & Connected Electric: APS Gas: None Parking Features: Carport; >1 Space Per Unit Road Surface Type: Asphalt Road Responsibility: City Maintained Road Owner Pays: Water; Trash Collection; Landscaping Tenant Pays: Electricity Source of Fincl Data: Owner Lockbox Type: None New Financing: Cash; Conventional Environmental: None
Listing Office: eXp Realty
IDX
Last Updated: April - 03 - 2026
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