1114 E Adams Street, Tucson, AZ 85719
$1,550,000
Property Type:
Commercial
Square Footage:
5,733
Lot Size (sq. ft.):
18,000
Status:
Closed
Current Price:
$1,550,000
List Date:
8/07/2019
Last Modified:
12/12/2024
Description
NEXT DOOR TO THE JUST COMPLETED U OF A NEW HONORS VILLAGE CAMPUS AND DORMS https://www.honors.arizona.edu/honors-village
AND JUST A COUPLE OF BLKS FROM THE U OF A MEDICAL SCHOOL/CAMPUS.AT U OF A. THIS 5 UNIT COMPLEX IS COMPOSED OF 3 BEDROOM 2 BATH UNITS. ALL UNITS RENTED FOR $1,975 PER MONTH.. PROPERTY HAS HAD A GUT REHAB WITH 5 NEW WATER METERS(SO NO UTILITY EXPENSES), CORRUGATED METAL SIDING, NEW ROOFS, KITCHENS, WASHERS/DRYERS, A/C UNITS WITH EXPOSED SPIRAL DUCTING, PRIVATE FENCED REAR YARDS, ETC. SEE PHOTOS. RENTS CUIRRENTLY ARE AT $1.72 PER SF AND AVERAGE RENTS IN THE AREA ARE $1.83 PER SFR OR $2,100 PER UNIT. SO GREAT UPSIDE
More Information MLS# 21920673
Address Information
Street #: 1114
Direction: E
Street Name: Adams
Suffix: Street
State/Province: AZ
Zip Code: 85719
County: Pima
Country: USA
Location Tax Legal
Tax Code: 123-15-164A
Area: Central
Contract Information
Current Price: $1,550,000
Sold Price: $1,550,000
Listing Date: 2019-08-07
Status: Closed
Method of Title: Fee (Simple)
Short Sale: No
Status Change Info
Off Market Date: 2019-10-25
Pending Date: 2019-10-25
Sold Date: 2019-11-25
Sold Price: $1,550,000
Sold Price/SqFt: 270.36
Lot Sz Sold Prc/SqFt: 86.11
Financing: Cash
General Property Information
Property Sub-Type: Apartment
Construction Status: Existing
# Units: 5
Total Parking: 15
Multi-Tenant: Yes
Year Built: 1966
Lot Dimensions: 120X150
Lot Acres: 0.41
Lot Sqft: 18000
Lot Size Source: Assessor
Combined SqFt: 5733
Source of SqFt: Assessor
List Price/SqFt: 287.81
Lot Size Price/SqFt: 91.67
Remarks Misc
Geo Lat: 32.240304
Geo Lon: -110.954761
Showing Information
Directions: MOUNTAIN ADAMS WEST TO ADDRESS.
Income
Gross Scheduled Rent: 118500
Adjusted Gross: 118500
Total Expenses: 17161
Net Opp Income: 101339
Analysis
Cap Rate %: 6.54
Gross Rent Multi: 13.08
Exp/SqFt: 2.99
Exp % of Gross: 14.48
Expenses
Captial Expenses: 1000
Figures Presented: Proforma
Insurance: 1000
Maintenance Supplies: 2500
Management: 8640
Taxes/Assessments: 4021
Apartment Unit Information
# of Units/3 BR: 5
Avg Mo Rent/3 BR: 1800
Space Information
Ceiling Height: 10ft
Electric
Electric Company: TEP
Submit With Offer
Seller Title Company: BARBI STEWART- FNF
Property Features
Construction: Concrete Block
Roof: Built-Up
Fenced Storage: Yes
Main Cooling: Central Air
Main Heating: Forced Air; Natural Gas
Water Heater: Natural Gas
Gas: Natural
Sewer: Connected
Water: Public
Fence: Block
Landscape - Front: Low Care
Landscape - Rear: Low Care
Road Type: Paved
Parking: Free
Lot Features: Adjacent to Alley
Terms: Cash
Submit With Offer: Digital Signature Accepted; Dual Agency Consent; Earnest Check; Income Property Addendum; Lender Pre-Approval; Loan Pre-Qualifiaction; Proof of Funds
Special Conditions: None
Documents
PROFORMA ›Listing Office: Long Realty Company
Last Updated: December - 12 - 2024
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