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Sold on 04/18/2026
  • Other
  • Exterior
  • Kitchen
  • Bedroom
  • Bath
  • Living

229 N Palm St, Gilbert, AZ 85234

$1,000,000

Last sold 04/18/2026 after 72 Days

  • 10

    bed

  • 5

    bath

Multi-family not for sale
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About 229 N Palm St

Property type Multi-family
Neighborhood
Year built 1960
HOA fee $0/month
Property description
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.
Listed by
Listing Agent - Tammy Knight
Listing Office - On Q Property Management
Source: ARMLS mls logo
MLS#6993986 • last updated 4 months ago
Movoto checked ARMLS for data 11 minutes ago
Overview
Cooling/AC Central Air, Ceiling Fan(s)
Heating Central, Electric
MLS # 6993986
Type Multiple Dwellings
Status Closed
Property Tax 2835
Year Built 1960
Interior
Flooring Laminate, Carpet, Vinyl
Appliances Free-Standing Range, Disposal, Refrigerator, W/D Hookup
Exterior
Roof Composition, Rolled/Hot Mop
Construction Wood Frame, Painted, Stucco
Parking Add'l Parking Avail, 1 Space/Unit
# of Open Parking Spaces 10
Amenities / Utilities
Water Source Master Meter
Sewer/Septic Public Sewer
Location
Community Features No Pool
Elementary School Gilbert Elementary School
Elementary School District Gilbert Unified District
High School District Gilbert Unified District
High School Gilbert High School
APN 304-11-159
Zoning Multi-family/Lo
Directions North On Gilbert Rd, East On Cullumber, North On Palm To Property On The Right.
Multifamily Details
Total # of Units 8
Expense: Operating 24535
Financial Data Source Owner
Vacancy Allowance 0.05
Expense: Insurance 2500
Net Operating Income 49440
Gross Income 75485.1
Expense: Other 200
Expense: Trash 2856
Expense: Professional Management 6300
Expense: Water/Sewer 8644
Gross Scheduled Income 79108
Expense: Gardener 1200
Lot/ Land Details
Road Surface Dirt, Gravel
We are not permitted to show value estimates for this property.
  • Apr 2026
    mls logo MLS # 6993986
  • Apr 18, 2026 Sold
    $1,000,000
  • Mar 25, 2026 Pending
    —
  • Feb 5, 2026 Listed
    $1,000,000 (+62.5%)
  • Feb 2017
    mls logo MLS # 5544232
  • Feb 1, 2017 Sold
    $615,400 (-5.3%)
  • Jan 9, 2017 Listed
    $650,000 (+58.5%)
  • Aug 2005
    Public Records
  • Aug 30, 2005 Sold
    $410,000
  • 229 N Palm St
    $1M
  • Heritage District
    $590K +34% y/y
  • 85234
    $575K +1% y/y
  • Gilbert
    $639K 0% y/y
No chart available
Statistics calculated by Movoto

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7/10
Burk Elementary School
public Grades PK, K-6
Gilbert Unified District
10/10
Neely Traditional Academy
public Grades PK, K-6
Gilbert Unified District
4/10
Mesquite Jr High School
public Grades 6-8
Gilbert Unified District
5/10
Gilbert High School
public Grades 7-12
Gilbert Unified District
Source: GreatSchools.org © 2026. All rights reserved.

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