$440,000
Tucson, AZ 85705
MLS# 21900364
Status: Closed
4156 sqft
1 / 12
Property Description
Investor opportunity. 8-unit complex on just under an acre. Fully rented. One 3 bedroom, five 1 bedroom, and two studio units. Two parcels are being sold together for a total of .91 acres of land. Room to add units. This property is well maintained and is a great investment opportunity.
Details
Maps
Address Information
Street #: 3519
Direction: N
Street Name: Los Altos
Suffix: Avenue
State/Province: AZ
Zip Code: 85705
County: Pima
Country: USA
Location, Tax & Legal
Tax Code: 106-04-0340
Tax Year: 2017
Taxes: 2257.61
Taxes For: Building & Land
Legal Description: Garden Homes N198.12' Lot 10 Blk 2 & Garden Homes N198.12' E 80' Lot 9 Blk 2
Area: Central
Municipality/Zoning: Tucson - R3
Fire Protection: Included in Taxes
FEMA Flood Zone: No
Municipal Flood Zone: No
Contract Information
Current Price: $416,000
List Price: $440,000
Listing Date: 2019-01-04
Status: Closed
Co-Op Fee: 3%
Variable Commission: 1
Method of Title: Fee (Simple)
Short Sale: No
Status Change Info
Off Market Date: 2019-05-16
Pending Date: 2019-08-19
Sold Date: 2019-08-21
Sold Price: 416000
Sold Price/SqFt: 100.1
Lot Sz Sold Prc/SqFt: 10.49
Financing: Cash Owner Carryback
General Property Information
Dwelling Type: Apartment
Construction Status: Existing
# Units: 8
Multi-Tenant: Yes
Year Built: 1948
Lot Dimensions: 200'x198'
Lot Acres: 0.91
Lot Sqft: 39639
Lot Size Source: Assessor
Combined SqFt: 4156
Source of SqFt: Assessor
List Price/SqFt: 105.87
Lot Size Price/SqFt: 11.1
Remarks & Misc
Geo Lat: 32.270846
Geo Lon: -110.963791
Income
Gross Scheduled Rent: 53100
Adjusted Gross: 53100
Total Expenses: 16499
Net Opp Income: 36601
Analysis
Cap Rate %: 8.8
Gross Rent Multi: 7.83
Exp/SqFt: 3.97
Exp % of Gross: 31.07
Expenses
Figures Presented: Actual
Gas/Electric: 1583
Insurance: 1889
Maintenance Supplies: 1348
Management: 4248
Taxes/Assessments: 2682
Water/Sewer: 4749
Unit Information
Apartment: Low Rise
Apartment Unit Information
# of Units/Studios: 2
Avg Mo Rent/Studios: 475
# of Units/1 BR: 5
Avg Mo Rent/1 BR: 515
# of Units/3 BR: 1
Avg Mo Rent/3 BR: 900
Electric
Electric Company: TEP
Property Features
Construction: Other
Roof: Built-Up - Reflect
Main Cooling: Central Air; Evaporative Cooling
Main Heating: Wall
Gas: Natural
Sewer: Connected
Security: None
Fence: Chain Link
Landscape - Front: Low Care
Landscape - Rear: Low Care
Road Type: Dirt; Gravel
Parking: Shared
Freeway/Highway: 2.1 - 5 Mile
Traffic Count: Unknown
Terms: Cash; Conventional
Submit With Offer: Loan Pre-Qualifiaction; Proof of Funds
Property Disclosures: Lead Based Paint
Special Conditions: None
Restrictions: Deed
Listing Office: Long Realty Company
Last Updated: August - 22 - 2019
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