229 N PALM Street TRLR, Gilbert, AZ 85234
$1,000,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$1,000,000
Last Modified:
4/18/2026
Overview
Description
Supplements:
Listing Details MLS# 6993986
Location, Tax & Legal
- House Number
- 229
- Compass
- N
- Street Name
- PALM
- St Suffix
- Street
- City/Town Code
- Gilbert
- State/Province
- AZ
- Zip Code
- 85234
- Zip4
- 5797
- County Code
- Maricopa
- Assessor Number
- 304-11-159
- Tax Year
- 2025
- Unit #
- TRLR
- Assessor's Map #
- 11
- Legal Description (Abbrev)
- N 90' OF S 290' OF N 686.90' OF TR IN SW4 DESC AS FOL BEG AT INTERSEC OF E LI PALM ST & S LI 2ND ST
- Assessor's Parcel #
- 159
- Add'l Parcels
- No
- Tax Municipality
- Maricopa - COUNTY
- Taxes
- 2835
- Legal
- N 90' OF S 290' OF N 686.90' OF TR IN SW4 DESC AS FOL BEG AT INTERSEC OF E LI PALM ST & S LI 2ND ST OF GILBERT TOWNS
- Marketing Name
- None
Contract Info
- Ownership
- Fee Simple
General Property Description
- Lot Size Dimensions
- 90x255
- Year Built
- 1960
- Uncvrd Parking Spcs
- 10
- Total # of Units
- 8
- # of Buildings
- 8
- Zoning
- Multi-family/Lo
- Elementary School District
- Gilbert Unified District
- High School District
- Gilbert Unified District
- Elementary School
- Gilbert Elementary School
- High School
- Gilbert High School
Remarks Misc
- Cross Street
- Gilbert and Elliott
- Directions
- North on Gilbert Rd, East on Cullumber, North on Palm to property on the right.
Status Change Info
- Off Market Date
- 2026-03-25
- Under Contract Date
- 2026-03-24
- Close of Escrow Date
- 2026-04-17
Legal Info
- Lot Number
- N/A
More Information
Income Expenses
- Gross Annual Sch Inc
- 79108
- Net Operating Income
- 49440
Showing Notification Methods
- Showing Service
- No Showing Service Used
- Text
- Yes
- Yes
- Phone Call
- Yes
Efficiency Units
- # Efficiency Units
- 7
- Avg Rent
- 1155
- Avg SqFt
- 600
- # Baths
- Yes
1 Bedroom Units
- # 1 Bedroom Units
- 4
- Avg Rent
- 1022.25
- Avg SqFt
- 500
- # Baths
- Yes
2 Bedroom Units
- # 2 Bedroom Units
- Yes
- Avg Rent
- 1149
- Avg SqFt
- 650
- # Baths
- Yes
4 Bedrooms Units
- # 4 Bedroom Units
- Yes
- Avg Rent
- 1700
- Avg SqFt
- 1500
- # Baths
- 4
Sold Info
- Loan Type
- Other
- Payment Type
- Other
- Closing Cost Split
- Normal - N
- Buyer Concession $/%
- $
- Seller Concession $/%
- $
- Buyer Concession to Seller
- 0
- Seller Concession to Buyer
- 0
Project Type
- 5 - 12 Units
- Yes
Other Type
- House + Rental Units
- Yes
Construction
- Wood Frame
- Yes
Const - Finish
- Painted
- Yes
- Stucco
- Yes
- Other (See Remarks)
- Yes
Roofing
- Composition
- Yes
- Rolled
- Yes
Floors
- Laminate
- Yes
- Vinyl
- Yes
- Carpet
- Yes
Sale Includes
- Land & Building
- Yes
- Personal Property
- Yes
Income & Expenses
- Annual Elec Exp
- 0
- Annual Gas Exp
- 0
- Annual Ins Exp
- 2500
- Annual Land Lse Exp
- 0
- Annual Landscape Exp
- 1200
- Annual Legal & Acctg
- 0
- Annual Maint Exp
- 0
- Annual Mgmt Exp
- 6300
- Annual Trash Exp
- 2856
- Annual Wtr/Swr Exp
- 8644
- Owner Association
- No
- Annual Ownr Asoc Fee
- 0
- Annual PAD Fee
- 0
- Annual Rplcmnt Rsrvs
- 0
- Annual Other Expense
- 200
- Operating Exp
- 24535
- Other Income
- 350
- Vacancy Allowance
- 0.05
- Adjusted Gross Inc
- 75485.1
Pmt & Rate Info
- Cap Rate
- 4.94
- Down Payment
- 0
- Equity
- 1000000
- Down Payment %
- 0
- Monthly Payments
- 0
- Total Owed
- 0
- Assessment Balance
- 0
Lockbox Type
- None
- Yes
Community Features
- No Pool
- Yes
Heating
- Electric
- Yes
- Central
- Yes
Cooling
- Ceiling Fan(s)
- Yes
- Central Air
- Yes
Exterior Amenities
- Desert Landscaping
- Yes
- Partially Fenced
- Yes
- Curb(s) & Gutter(s)
- Yes
- Separate Storage
- Yes
Interior Features
- Unfurnished
- Yes
- Fire/Smoke Alarm(s)
- Yes
Tenant Pays
- Electricity
- Yes
- Cable TV
- Yes
- Other (See Remarks)
- Yes
Appliances Included
- Disposal
- Yes
- Refrigerator
- Yes
- Free-Standing Range
- Yes
- W/D Hookup
- Yes
Road Access Type
- Dedicated Street
- Yes
Road Surface Type
- Dirt
- Yes
- Gravel
- Yes
Source of Fincl Data
- Owner
- Yes
Water Source
- Master Meter
- Yes
Sewer
- Sewer - Public
- Yes
Parking Features
- 1 Space/Unit
- Yes
- Add'l Parking Avail
- Yes
Electric
- APS
- Yes
Gas
- None
- Yes
Owner Pays
- Water
- Yes
- Trash Collection
- Yes
New Financing
- Cash
- Yes
- Conventional
- Yes
Existing 1st Loan
- Treat as Free&Clear
- Yes
Existing 1st Loan Terms
- Not Applicable
- Yes
Existing 2nd Loan Terms
- Not Applicable
- Yes
Existing 3rd Loan Type
- Not Applicable
- Yes
Reports/Disclosures
- None
- Yes
Existing 3rd Loan Terms
- Not Applicable
- Yes
Environmental
- None
- Yes
Existing Othr Ln Trm
- Not Applicable
- Yes
3 Bedrooms Units
- Avg Rent
- 0
Property Features
Project Type:
5 - 12 Units
Other Type:
House + Rental Units
Construction:
Wood Frame
Const - Finish:
Painted; Stucco; Other (See Remarks)
Roofing:
Composition; Rolled
Floors:
Laminate; Vinyl; Carpet
Sale Includes:
Land & Building; Personal Property
Community Features:
No Pool
Exterior Amenities:
Desert Landscaping; Partially Fenced; Curb(s) & Gutter(s); Separate Storage
Interior Features:
Unfurnished; Fire/Smoke Alarm(s)
Appliances Included:
Free-Standing Range; Refrigerator; Disposal; W/D Hookup
Heating:
Central
Cooling:
Ceiling Fan(s); Central Air
Water Source:
Master Meter
Sewer:
Sewer - Public
Electric:
APS
Gas:
None
Parking Features:
1 Space/Unit; Add'l Parking Avail
Road Access Type:
Dedicated Street
Road Surface Type:
Gravel; Dirt
Owner Pays:
Water; Trash Collection
Tenant Pays:
Electricity; Cable TV; Other (See Remarks)
Source of Fincl Data:
Owner
Showing Notification Methods:
Text; Email; Phone Call
Lockbox Type:
None
Existing 1st Loan:
Treat as Free&Clear
Existing 1st Loan Terms:
Not Applicable
Existing 2nd Loan Terms:
Not Applicable
Existing 3rd Loan Type:
Not Applicable
Existing 3rd Loan Terms:
Not Applicable
Existing Othr Ln Trm:
Not Applicable
New Financing:
Cash; Conventional
Environmental:
None
Listing Office:
On Q Property Management
Last Updated: April - 18 - 2026
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