1926-1944 N Tucson Boulevard, Tucson, AZ 85716
$1,400,000
Property Type:
Commercial
Square Footage:
5,906
Lot Size (sq. ft.):
36,542
Status:
Closed
Current Price:
$1,400,000
List Date:
11/08/2022
Last Modified:
12/20/2024
Description
Rarely do you find an investment property with so much character, charm, pride of ownership, lush vegetation and located within a mile of the U of A. This fabulous property boasts a 2BR/2BA, 1BR/1BA and 4 studio units that have all been beautifully remodeled plus 4 more 1BR/1BA units that have all been lovingly cared for. 6 units are free standing and have covered parking. All units have fabulous wood beam ceilings, tiled floors and A/C. Besides the 7 covered parking spaces, there are 14 additional parking spaces. All leases are month-to-month except 1 studio which has a year lease. Rents are accurate with tons of room for increasing. 1 studio currently being leased on a month-to-month basis to a family member for $200/month. Owner pays for master metered water for all units.
More Information MLS# 22228621
Address Information
Street #: 1926-1944
Direction: N
Street Name: Tucson
Suffix: Boulevard
State/Province: AZ
Zip Code: 85716
County: Pima
Country: USA
Location Tax Legal
Tax Code: 123-02-1950
Area: Central
Contract Information
Current Price: $1,400,000
Sold Price: $1,400,000
Listing Date: 2022-11-08
Status: Closed
Method of Title: Fee (Simple)
Short Sale: No
Status Change Info
Off Market Date: 2023-01-30
Pending Date: 2023-03-13
Sold Date: 2023-03-30
Sold Price: $1,400,000
Sold Price/SqFt: 237.05
Lot Sz Sold Prc/SqFt: 38.31
Financing: Cash
General Property Information
Property Sub-Type: Apartment
Construction Status: Existing
# Units: 10
Total Parking: 21
Multi-Tenant: No
Year Built: 1961
Lot Dimensions: 121 x 302 (approx)
Lot Acres: 0.84
Lot Sqft: 36542
Lot Size Source: Assessor
Combined SqFt: 5906
Source of SqFt: Assessor
List Price/SqFt: 237.05
Lot Size Price/SqFt: 38.31
Remarks Misc
Geo Lat: 32.245807
Geo Lon: -110.934776
Showing Information
Directions: From Grant, S-Tucson Blvd to address (El Mirasol Apartments)
Income
Gross Scheduled Rent: 89400
Other Income: 1200
Adjusted Gross: 90600
Net Opp Income: 65438
Analysis
Cap Rate %: 4.67
Gross Rent Multi: 15.45
Expenses
Admin Expenses: 950
Contract Services: 5230
Figures Presented: Actual
Insurance: 2074
Maintenance Supplies: 5029
Taxes/Assessments: 5780
Water/Sewer: 5599
Other Expenses: 500
Unit Information
Apartment: Low Rise
Apartment Unit Information
# of Units/Studios: 4
Avg Mo Rent/Studios: 600
# of Units/1 BR: 5
Avg Mo Rent/1 BR: 800
# of Units/2 BR: 1
Avg Mo Rent/2 BR: 1450
Main Cooling
Other: Mini Split
Electric
Electric Company: TEP
Parking
# Covered Parking: 7
Other: 14 Uncovered
Property Features
Property Features: Smoke Detector; Storage
Construction: Brick
Roof: Built-Up - Reflect
Main Cooling: Central Air; Zoned
Main Heating: Electric; Gas Pac; Zoned
Water Heater: Natural Gas
Gas: Natural
Sewer: Connected
Water: Public
Security: Security Lights
Green Features: Tankless Water Heater
Fence: None
Landscape - Front: Decorative Gravel; Desert Plantings; Sprinkler/Drip; Trees
Landscape - Rear: Decorative Gravel; Desert Plantings; Sprinkler/Drip; Trees
Road Type: Paved
Parking: Parking Structure; Private Parking
Lot Features: Subdivided
Terms: Cash; Conventional; Owner Carry
Possession: See Remarks
Submit With Offer: Loan Pre-Qualifiaction; Proof of Funds
Property Disclosures: Lead Based Paint; Leases; Military Airport Vct
Special Conditions: None
Restrictions: CC&R
Documents
Aerial ›Listing Office: Long Realty
Last Updated: December - 20 - 2024
Broker Attribution:
520-977-4770
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