$1,000,000
Tucson, AZ 85701
MLS# 22416477
4524 sqft
1 / 14
Property Description
Located in the highly desirable downtown neighborhood of Armory Park, tenants are within walking distance to the many restaurants and attractions of downtown Tucson. Additionally, they have easy access to the University of Arizona by way of the streetcar. The property has been well-maintained and the units have been updated to provide tenants with modern kitchens and baths while still retaining the charms of an older property. The studio units are a spacious 450 sq.ft. with window AC units. There are multiple common areas for the tenants, including a second-floor deck, interior lobby and reading room as well as a gated front yard with a grill. There is an on-site laundry room for tenant use. The property is securely gated and fenced throughout, including the front and back entrance
Details
Maps
Address Information
Street #: 150
Direction: E
Street Name: 16th
Suffix: Street
State/Province: AZ
Zip Code: 85701
County: Pima
Country: USA
Location, Tax & Legal
Tax Code: 117-07-161A
Tax Year: 2023
Taxes: 5678.71
Assessments: 53184
Taxes For: Building & Land
Legal Description: From Parcel:117071610 /Tucson E157.82' Lot 1 Exc S38' W18' Thereof Blk 119
Area: Central
Municipality/Zoning: Tucson - HR3
Fire Protection: Included in Taxes
FEMA Flood Zone: No
Contract Information
Current Price: $1,000,000
List Price: $1,000,000
Listing Date: 2024-06-03
Status: Active
Co-Op Fee: 2%
Variable Commission: 1
Method of Title: Fee (Simple)
Short Sale: No
General Property Information
Dwelling Type: Apartment
Construction Status: Existing
# Units: 9
Multi-Tenant: Yes
Year Built: 1908
Lot Dimensions: to be determined
Lot Acres: 0.22
Lot Sqft: 9757
Lot Size Source: Assessor
Combined SqFt: 4524
Source of SqFt: Assessor
List Price/SqFt: 221.04
Lot Size Price/SqFt: 102.49
Remarks & Misc
Geo Lat: 32.214461
Geo Lon: -110.967375
Apartment Unit Information
# of Units/Studios: 9
Avg Mo Rent/Studios: 636
Property Features
Supplements
and the parking lot.
Rents are well below market with 7 of the 9 tenants on month-to-month leases, allowing for the ability to immediately increase rents and introduce a RUBS program.
Listing Office: ABI Multifamily, LLC
Last Updated: July - 02 - 2024
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