$1,799,000

The Casa Blanca Motel is a 26-unit apartment / motel property (including the manager's residence) located a little over half a mile north of the vibrant Downtown Chandler area. Downtown Chandler, also known as ''The DC'', has gone through gentrification and revitalization over the past number of years to become one of the coolest, most hip, and popular downtown areas in the state. Downtown Chandler is a vibrant community featuring eclectic shops, enticing restaurants, and exciting events throughout the year. From fine art to popular breweries, you can find it all. The architecture of The DC makes it a unique area to visit, with original buildings from the early 1900s to the award-winning, modern City Hall. The walkability of The DC makes it a great place to visit for an afternoon, as well as after dark when the nightlife comes alive in the pubs, lounges, and eateries. Locals, as well as out-of-towners, visit The DC throughout the year to discover the art, culture, food, and entertainment that it brings to the heart of Chandler. The Casa Blanca Motel is comprised of 26 units and sits on 29,675 SF of land zoned C-3. Its mid-century architecture, mixed with a Santa Barbara-style, and its phenomenal location, makes the Casa Blanca Motel a very unique opportunity for a "current", cool, hip value-add project. The property has been operated as a weekly rental / motel and has performed extremely well historically. There are many new roofs and new exterior sewer lines. While an investor could continue to operate as-is, the best long-term plan would be to do a full renovation and mirror what was done down the street at The Aloha Motel. The city has expressed verbal support to convert the property to market-rate apartments or redevelop the site entirely. This property is a phenomenal value-add opportunity for someone who wants a property in an amazing location in an area where properties of this size rarely hit the market. Chandler continues to be one of the most sought-after submarkets for investors with its tremendous employment opportunities, lack of inventory, and its convenient, centralized location in the heart of the Southeast Valley. The Casa Blanca Motel is a tremendous vacation rental opportunity, similar to the nearby The Aloha Motel. Please see The Aloha Motel details provided to support the renovation proforma.