498 N Arizona Ave, Chandler, AZ 85225

Multifamily · Chandler · Phoenix metro, AZ

One of 442 reachable multifamily buildings in Chandler. Larger than 74% of multifamily buildings in Chandler (median 3,142 SF), derived from assessor records.

County gross building area
7,644 SF, Maricopa County Assessor
Lot size
14,941 SF, Maricopa County Assessor
Year built
1948, Maricopa County Assessor
Stories
1, Maricopa County Assessor
Buildings on parcel
3, Maricopa County Assessor
Predominant use
Apartments 5 - 24 Units 1 Story, Maricopa County Assessor
Units
12, Maricopa County Assessor
Assessed value
$1,682,300, per the Maricopa County Assessor (not a market appraisal)
Assessed value per building SF
$220.08/SF, derived from assessor records
Building area / lot
0.51, derived from assessor records
Vintage
1940s vintage
County use code
APARTMENTS 5 - 24 UNITS 1 STORY

Nearby comparable buildings

Same building type, by distance. Assessor facts only; not an opinion of value.

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Sale history and market context

MakeMe Estimate: $2.12M (estimated market value), with a likely range of $1.7M to $2.52M (half of recent verified sales in this segment landed inside that range). Computed as the county's full cash value of $1,682,300 times a 1.26 market ratio, measured from 3891 verified arm's-length sale prices vs county values (multifamily sales across the county, through 2026-06-29). Not an appraisal. How this estimate works. About $177K per unit at the midpoint (12 units).

lower confidence: 6 comparable sales within 3 miles; nearest 0.4 mi. This property type carries wider measured error; treat the estimate as a starting point. Last arm's-length sale: $2,015,000 in 2022. The market has moved since; the estimate reflects current county values and ratios, not that price.

Comparable sales used as evidence

Recorded arm's-length sales of similar buildings nearby; nearer and more recent sales rank first. The strongest 5 of 6 nearby verified sales are shown. Buyer and seller names are withheld. Get this data via API.

Market context: Multifamily in Chandler

median verified sale $299.04/SF over the trailing 24 months; median $325,373 per unit; 14 sales in the last 12 months and 25 in 24 (newest verified sale 2026-02); the middle 80% of recent sales traded at 1.23x to 1.65x their county full cash value, median 1.37x (25 sales with usable county values).

  • 2022: $344.70/SF median (7 sales)
  • 2023: $248.97/SF median (4 sales)
  • 2024: $299.04/SF median (10 sales)
  • 2025: $293.76/SF median (14 sales)

This estimate sits at 1.26x county full cash value, the 28th percentile of those recent sale premiums.

Computed from 134 verified arm's-length sales in Maricopa County public records (25 in the trailing 24 months). Free public records. Not an appraisal.

Last sold: 2022-05-01 for $2,015,000 (recorded arm's-length sale).

Current ownership dates to 2022 (about 4 years) per recorded transfers.

Source: Maricopa County recorded sales extract; buyer and seller shown only when a company or organization. Individual names are withheld.

Value over time

$0$1M$2M$3M202220232024202520262027Last sold $2.02M · 2022$2.12M$1.68MCounty assessed valueRecorded sale

Dark line: county assessed value per Maricopa County tax rolls. Diamonds: recorded arm's-length sales.

Land, site, and value history

Assessed value moved from $1,603,500 (2026) to $1,682,300 (2027), up 5% over 1 years, per county tax rolls. The 2027 roll splits $1,682,300 into $336,400 land and $1,345,900 improvements.