1240 N 7th, Tucson, AZ 85705
$2,750,000
Property Type:
Multi-Family
Square Footage:
28,170
Lot Size (sq. ft.):
78,408
Status:
Closed
Current Price:
$2,750,000
List Date:
3/20/2006
Last Modified:
10/26/2024
Description
Very well maintained apartment located between UofA & Pima College near downtown. Occupancy above 95% for 2005 and 100% today, individually metered except water & hot water.
More Information MLS# 2611287
Address Information
Street #: 1240
Direction: N
Street Name: 7th
State/Province: AZ
Zip Code: 85705
County: Pima
Country: USA
Location Tax Legal
Tax Code: 115-05-0890
Area: Central
Subdivision: Highland Park Addition
Contract Information
Current Price: $2,750,000
Sold Price: $2,750,000
Listing Date: 2006-03-20
Status: Closed
Status Change Info
Off Market Date: 2006-06-01
Pending Date: 2006-03-31
Sold Date: 2006-06-01
Sold Price: $2,750,000
Sold Price/SqFt: 97.62
Lot Sz Sold Prc/SqFt: 35.07
How Sold: Conventional
General Property Information
Lot Dimensions: 425 x 185
Lot Acres: 1.8
Lot Sqft: 78408
Lot Size Source: Assessor
Combined SqFt: 28170
Year Built: 1955
List Price/SqFt: 102.95
Lot Size Price/SqFt: 36.98
Showing Information
Directions: Speedway and Stone east to 7th North to address
Unit Info
# of Units/Studios: 65
Avg Mo Rent/Studios: 370
# of Units/1 BR: 4
Avg Mo Rent/1 BR: 450
# of Units/2 BR: 3
Avg Mo Rent/2 BR: 540
Analysis
Cap Rate %: 6.59
Gross Rent Multi: 8.58
Vacancy Rate %: 5
Exp/SqFt: 5.19
Exp % of Gross: 43.34
Income
Gross Scheduled Rent: 329640
Vacancy Loss: 16482
Other Income: 24689
Adjusted Gross: 337847
Total Expenses: 146455
Net Opp Income: 191392
Expenses
Gas/Electric: 8922
Insurance: 1617
Maintenance Supplies: 72109
Management: 16892
Resident Manager: 16892
Taxes/Assessments: 16046
Water/Sewer: 13977
Interior Features
Interior Steps: No
Miscellaneous
Master Elec Meter: No
Master Gas Meter: Yes
Master Water Meter: Yes
Package Available: Yes
Property Features
Construction: Brick
Main Cooling: Wall Unit(s)
Main Heating: Electric; Zoned
Sewer: Connected
Water: Public
Security: None
Terms: Conventional
Property Disclosures: Unknown
Sold Info: Financing
Documents
Lead Paint Discl ›Listing Office: Long Realty Company
Last Updated: October - 26 - 2024
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