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229 N PALM Street # TRLR Gilbert, AZ $ 1,000,000
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229 N PALM Street # TRLR
$ 1,000,000
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229 N PALM Street # TRLR

Gilbert, AZ, 85234
$ 1,000,000
Baths0.0

Monthly Estimate*

$ 6,157

229 N PALM Street # TRLR, Gilbert, AZ 85234 - Image 1
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Studio

Multi-Family Home for sale in Gilbert, AZ

for $1,000,000. This home was built in 1960.

Developer / Investor Opportunity - Located in the Heritage District in Downtown Gilbert... This unique property features a single-family residence at the front & center of a long-standing trailer park, offering a rare opportunity for redevelopment or income potential. The main house includes 4 bedrooms. In addition, the property includes multiple trailer units consisting of one 2-bedroom trailer and 4 single-bedroom units. This property presents an excellent opportunity for developers, investors, or buyers seeking a value-add project. Whether you choose to renovate the existing structures, reposition the property as a rental portfolio, or explore redevelopment options, the possibilities are significant. Buyer to verify zoning, usage, and redevelopment opportunities with the appropriate municipality.

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Multi-Family Active

Price

$ 1,000,000

Bedrooms

Studio

Property Type

Multi-Family

Taxes

$ 2,835

Style

Multiple Dwellings

Year Built

1960

Town/City

Gilbert

County/Region

Maricopa

MLS | Web ID

6993986
Features
General
Sewer Public Sewer
Heating Central Electric
Cooling Central Air Ceiling Fan(s)
Roof Composition Rolled/Hot Mop
Zoning Multi-family/Lo
Construction Materials Wood Frame Painted Stucco
Year Built 1960
Electric APS
Unit Number TRLR
Tax Year 2025
Ownership Fee Simple Fee Simple
Gross Income 75485.1
Community Features No Pool
County Maricopa
Net Operating Income 49440.0
Operating Expense 24535.0
Insurance Expense 2500.0
New Construction N
Property Type Multiple Dwellings
Attached Garage N
MaintenanceExpense 0.0
Garage Y/N N
Status Active
Directions North on Gilbert Rd East on Cullumber North on Palm to property on the right.
High School Gilbert High School
City Gilbert
Disclosures None
High School District Gilbert Unified District
Open Parking Spaces 10.0
Number Of Units Total 8
Carport Y/N N
Elementary School Gilbert Elementary School
Tax Annual Amount 2835.0
Electric Expense 0.0
Fuel Expense 0.0
Trash Expense 2856.0
Water Sewer Expense 8644.0
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N N
Standard Status Active
Occupancy Type Tenant
Elementary School District Gilbert Unified District
Tax Lot N/A
Cap Rate 4.94
New Financing: Conventional True
Senior Community N
New Financing: Cash True
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Interior
Flooring Laminate Carpet Vinyl
Air Conditioning Y/N Y
Heating Y/N Y
Total Baths 0
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Exterior
Parking Features Add'l Parking Avail 1 Space/Unit
Water Source Master Meter
Total Parking 10.0
Number of Buildings 8
Spa N
Lot Dimensions 90x255
Road Surface Type Dirt Gravel
Covered Spaces 0.0
Crops Included Y/N N
Irrigation Water Rights Y/N N
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Internal Only
Street Number 1 229
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* Excluded Features
List By
On Q Property Management

Broker

tammyknightaz@gmail.com

Email

Affordability Calculator

$6,393
Per Month
96%
4%
0%
Monthly Principal & Interest
$6,157
Monthly Property Taxes
$236
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
4327007 Elementary School
4758217 Middle School
Gilbert High School High School
See complete school information
Pricing History
DatePricePrice ChangeDescription
3/5/2026$1,000,000 Listed Price

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229 N PALM Street # TRLR, Gilbert, AZ, 85234 is a Multi-Family Home for sale at $1,000,000. 229 N PALM Street # TRLR is a studio with 0.0 baths and was built in 1960. The property's zip code is 85234 which is in Gilbert, AZ

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