$1,150,000
Tucson, AZ 85719
MLS# 22122299
Status: Closed
11338 sqft
1 / 48
Property Description
Downtown multifamily portfolio just north of the UofA in prime location! Portfolio consists of 3 contiguous parcels at 1030, 1016 & 1014 E Lee St. 1030 E Lee St is a 12 unit apartment complex with 2 studios, 9 1 bedroom units and 1 2 bed 1 bath unit. 1016 E Lee St is a 5 plex with 4 1 bedroom units and 1 2 bed unit. 1014 E Lee St is a 2 bed 1 bath single family home. Excellent value add opportunity, see brochure in docs tab and schedule your showing today!
Details
Maps
Documents
Address Information
Country: USA
Street #: 1030
Direction: E
Street Name: Lee
Suffix: Street
State/Province: AZ
Zip Code: 85719
County: Pima
Location, Tax & Legal
Tax Year: 2020
Taxes: 6270
Assessments: 0
Legal Description: UNIVERSITY HOME W10' LOT 2 & LOTS 3 4 & 5
BLK 18 & UNIVERSITY HOME LOT 6 BLK 18 & UNIVERSITY HOME LOT 7 BLK 18
Municipality/Zoning: Tucson - R2
Fire Protection: Included in Taxes
FEMA Flood Zone: No
Municipal Flood Zone: No
Tax Code: 123-15-233A
Area: Central
Contract Information
Short Sale: No
Current Price: $1,150,000
Sold Price: $1,150,000
Listing Date: 2021-08-30
Status: Closed
Status Change Info
Off Market Date: 2021-10-13
Sold Price/SqFt: 101.43
Lot Sz Sold Prc/SqFt: 37.71
Financing: Other
Pending Date: 2021-10-27
Sold Date: 2021-12-28
Sold Price: $1,150,000
Showing Information
Directions: From Speedway & Park, north on park to Lee. East on Lee to address, properties on your right.
General Property Information
Property Sub-Type: Apartment
Lot Dimensions: irregular
Lot Acres: 0.7
Lot Sqft: 30492
Lot Size Source: Assessor
Source of SqFt: Owner
List Price/SqFt: 105.84
Lot Size Price/SqFt: 39.35
Year Built: 1937
Combined SqFt: 11338
Electric
Electric Company: TEP
Income
Vacancy Loss: 15696
Other Income: 300
Adjusted Gross: 246204
Gross Scheduled Rent: 261600
Net Opp Income: 138304
Gas
Natural: 1
Analysis
Gross Rent Multi: 4.67
Vacancy Rate %: 6
Cap Rate %: 8.64
Expenses
Captial Expenses: 60385
Figures Presented: Proforma
Gas/Electric: 0
Insurance: 7600
Maintenance Supplies: 400000
Management: 20000
Resident Manager: 0
Taxes/Assessments: 6270
Water/Sewer: 0
Sewer
Connected: 1
Unit Information
Apartment: Low Rise
Apartment Unit Information
# of Units/Studios: 2
Avg Mo Rent/Studios: 1000
# of Units/1 BR: 13
Avg Mo Rent/1 BR: 1140
# of Units/2 BR: 3
Avg Mo Rent/2 BR: 1400
Roof
Built-Up: 1
Shingle: 1
Water
Public: 1
Property Features
Smoke Detector: 1
Road Type
Paved: 1
Fenced Storage
No: 1
Lot Features
Adjacent to Alley: 1
Main Cooling
Central Air: 1
Main Heating
Forced Air: 1
Natural Gas: 1
Water Heater
Electric: 1
Natural Gas: 1
Terms
Cash: 1
Conventional: 1
Submit: 1
Submit With Offer
Proof of Funds: 1
Accessibility Option
Level: 1
Security
Window Bars: 1
Sold Info
Seller Concessions: 15000
Landscape - Front
Low Care: 1
Parking
Private Parking: 1
Freeway/Highway
1.1 - 2 Miles: 1
Traffic Count
Unknown: 1
Possession
Negotiable: 1
Property Disclosures
Lead Based Paint: 1
Unknown: 1
Special Conditions
Fix Up: 1
Remarks Misc
Geo Lat: 32.2413
Geo Lon: -110.955825
Property Features
Property Features: Smoke Detector
Roof: Built-Up; Shingle
Fenced Storage: No
Main Cooling: Central Air
Main Heating: Forced Air; Natural Gas
Water Heater: Electric; Natural Gas
Gas: Natural
Sewer: Connected
Water: Public
Accessibility Option: Level
Security: Window Bars
Landscape - Front: Low Care
Road Type: Paved
Parking: Private Parking
Lot Features: Adjacent to Alley
Traffic Count: Unknown
Terms: Cash; Conventional; Submit
Possession: Negotiable
Submit With Offer: Proof of Funds
Property Disclosures: Lead Based Paint; Unknown
Special Conditions: Fix Up
Property Flyer 
Listing Office: Realty Executives Arizona Territory
Last Updated: December - 14 - 2024
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