$595,000
Tucson, AZ 85712
MLS# 21818296
Status: Closed
8947 sqft
1 / 8
Property Description
11 apartment units + 1580 sq. ft. office bldg. on .98 acre lot zoned C-I. Located on the corner of Pima St. and Village Dr. Property also has a 1554 square foot block bldg. and two 2 car garages, that per City of Tucson, have the potential of being converted to apartment units, with Board of Adjustments approval. C1 commercial zoning allows a residential density of 36 units per acre. Office bldg. located at 3939 E. Pima has the potential of being rented as a 4 bdrm. house. It has a kitchen and full bathroom. Two tax codes: 122-09-001B & C. Potential to do lot splits too. This is the best value-add opportunity in Tucson! Bring your ideas & creativity 11 apartment units gross $5,097 per month. Owner is licensed to sell real estate in Arizona.
Details
Maps
Documents
Address Information
Country: USA
Street #: 1701
Direction: N
Street Name: Village
Suffix: Drive
State/Province: AZ
Zip Code: 85712
County: Pima
Location, Tax & Legal
Tax Year: 2017
Taxes: 4436.92
Assessments: 0
Legal Description: Frontier Village Amended Ely
Municipality/Zoning: Tucson - C1
Fire Protection: Included in Taxes
FEMA Flood Zone: No
Municipal Flood Zone: No
Tax Code: 122-09-001B
Area: Central
Contract Information
Method of Title: Fee (Simple)
Short Sale: No
Current Price: $595,000
Sold Price: $595,000
Listing Date: 2018-07-02
Status: Closed
Status Change Info
Off Market Date: 2018-08-01
Sold Price/SqFt: 66.5
Lot Sz Sold Prc/SqFt: 13.94
Financing: Cash
Pending Date: 2018-08-28
Sold Date: 2018-08-29
Sold Price: $595,000
General Property Information
Property Sub-Type: Apartment
Construction Status: Existing
# Units: 12
Lot Dimensions: irreg. 2 tax codes
Lot Acres: 0.98
Total Parking: 20
Lot Sqft: 42689
Multi-Tenant: Yes
Lot Size Source: Assessor
Source of SqFt: Assessor
Leasable SqFt: 10527
List Price/SqFt: 66.5
Lot Size Price/SqFt: 13.94
Year Built: 1947
Combined SqFt: 8947
Showing Information
Directions: Pima/Alvernon - E 1 Block. Property is on the corner of Pima Street and Village Dr.
Electric
Electric Company: TEP
Income
Vacancy Loss: 3778
Other Income: 0
Adjusted Gross: 71786
Total Expenses: 33094
Gross Scheduled Rent: 75564
Net Opp Income: 38692
Gas
Natural: 1
Analysis
Gross Rent Multi: 8.29
Vacancy Rate %: 5
Exp/SqFt: 3.7
Exp % of Gross: 46.1
Cap Rate %: 6.5
Expenses
Admin Expenses: 0
Captial Expenses: 0
Contract Services: 0
Figures Presented: Proforma
Gas/Electric: 0
Insurance: 4632
Maintenance Supplies: 5200
Management: 5500
Resident Manager: 0
Taxes/Assessments: 8305
Water/Sewer: 7117
Other Expenses: 2340
Sewer
Connected: 1
Unit Information
Apartment: Low Rise
Apartment Unit Information
# of Units/1 BR: 11
Avg Mo Rent/1 BR: 463
# of Units/Other: 1
Avg Mo Rent/Other: 1200
Water
Public: 1
Property Features
Smoke Detector: 1
Storage: 1
Fence
None: 1
Road Type
Paved: 1
Fenced Storage
No: 1
Lot Features
Corner Lot: 1
North/South Exposure: 1
Subdivided: 1
Main Cooling
Central Air: 1
Evaporative Cooling: 1
Main Heating
Other: 1
Water Heater
Natural Gas: 1
Terms
Cash: 1
Conventional: 1
Submit With Offer
Loan Pre-Qualifiaction: 1
Proof of Funds: 1
Accessibility Option
None: 1
Special Conditions
None: 1
Security
None: 1
Sold Info
Seller Concessions: 0
Landscape - Front
Low Care: 1
Landscape - Rear
Low Care: 1
Business Location
Corner Lot: 1
Office/Professional: 1
Possession
Recording: 1
Restrictions
Deed: 1
Property Disclosures
Lead Based Paint: 1
Marketing Package Available: 1
Military Airport Vct: 1
Seller Prop Disclosure: 1
Remarks Misc
Geo Lat: 32.243685
Geo Lon: -110.907675
Property Features
Property Features: Smoke Detector; Storage
Fenced Storage: No
Main Cooling: Central Air; Evaporative Cooling
Main Heating: Other
Water Heater: Natural Gas
Gas: Natural
Sewer: Connected
Water: Public
Accessibility Option: None
Security: None
Fence: None
Landscape - Front: Low Care
Landscape - Rear: Low Care
Road Type: Paved
Lot Features: Corner Lot; North/South Exposure; Subdivided
Business Location: Corner Lot; Office/Professional
Terms: Cash; Conventional
Possession: Recording
Submit With Offer: Loan Pre-Qualifiaction; Proof of Funds
Property Disclosures: Lead Based Paint; Marketing Package Available; Military Airport Vct; Seller Prop Disclosure
Special Conditions: None
Restrictions: Deed
Lead Paint Discl 
Listing Office: Tierra Antigua Realty
Last Updated: September - 09 - 2026
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