1525 N Euclid Avenue, Tucson, AZ 85719
$4,250,000
Property Type:
Multi-Family
Square Footage:
21,148
Lot Size (sq. ft.):
64,469
Status:
Closed
Current Price:
$4,250,000
List Date:
3/13/2017
Last Modified:
12/09/2024
Description
AMAZING OPPORTUNITY to own a Gorgeously remodeled (2016) 58 unit apartment complex less than 5 blocks to the University of Arizona. Fully leased through July 2018 (Yes, 2018!!). Each unit had new hardwood cabinets, granite counter tops, porcelain tile, paint, dishwasher, Microwave & electrical fixtures installed during 2016. New Clubhouse with leasing office and laundry room built in 2016. New block walls and metal gates installed 2016. Swimming pool, turf, and landscaping updated 2016. Complex built with concrete block exterior walls and concrete floors between units (except in bathrooms (plumbing). New Master Lease starting 8/1/2017. Numbers presented reflect new master lease. One of members of the Seller is AZ licensed broker. Please do not go on the property or disturb tenants.
More Information MLS# 21707065
Address Information
Street #: 1525
Direction: N
Street Name: Euclid
Suffix: Avenue
State/Province: AZ
Zip Code: 85719
County: Pima
Country: USA
Location Tax Legal
Tax Code: 123-15-101A
Area: Central
Subdivision: University Home Addition
Contract Information
Current Price: $4,250,000
Sold Price: $4,250,000
Listing Date: 2017-03-13
Status: Closed
Distressed Info: None
Status Change Info
Off Market Date: 2017-04-17
Pending Date: 2017-06-23
Sold Date: 2017-08-09
Sold Price: $4,250,000
Sold Price/SqFt: 200.96
Lot Sz Sold Prc/SqFt: 65.92
How Sold: Conventional
General Property Information
Lot Dimensions: Irregular
Lot Acres: 1.48
Lot Sqft: 64469
Lot Size Source: Assessor
Combined SqFt: 21148
Year Built: 1978
List Price/SqFt: 200.96
Lot Size Price/SqFt: 65.92
Remarks Misc
Geo Lat: 32.241267
Geo Lon: -110.960245
Showing Information
Directions: From Speedway and Euclid. North to Address. Located on SW Corner of Euclid and Lee.
Unit Info
# of Units/Studios: 56
Avg Mo Rent/Studios: 750
# of Units/1 BR: 2
Avg Mo Rent/1 BR: 750
# of Units/Other: 1
Avg Mo Rent/Other: 112.5
Analysis
Cap Rate %: 9.37
Gross Rent Multi: 8.12
Exp/SqFt: 5.93
Exp % of Gross: 23.95
Income
Gross Scheduled Rent: 522000
Other Income: 1400
Adjusted Gross: 523400
Total Expenses: 125370
Net Opp Income: 398030
Expenses
Admin Expenses: 750
Capital Expenses: 5000
Contract Services: 8400
Insurance: 7675
Maintenance Supplies: 24000
Management: 52200
Taxes/Assessments: 25385
Other Expenses: 1960
Figures Presented: Proforma
Interior Features
Interior Steps: Yes
Miscellaneous
Master Water Meter: Yes
Package Available: Yes
Property Features
Construction: Concrete Block
Main Cooling: Central Air
Main Heating: Electric; Forced Air
Sewer: Connected
Water: Public
Neighborhood Features: Gated Community
Terms: Cash; Conventional
Property Disclosures: Unknown
Listing Office: Tucson Integrity Realty, LLC
Last Updated: December - 09 - 2024
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