2620 N 14Th Avenue, Tucson, AZ 85705
$1,650,000
Property Type:
Commercial
Square Footage:
6,979
Lot Size (sq. ft.):
45,978
Status:
Closed
Current Price:
$1,650,000
List Date:
6/06/2023
Last Modified:
12/22/2024
Description
This address is sold together with 2630 North 14th Avenue (107-09-015A) for a total price of $2,200,000
Value add has excellent opportunity.
• Turn-Key opportunity
• Recent capital improvements
• In-place management
• On-site laundry facility
Capital improvements made over the past year have dropped NOI significantly. Gross monthly potential is just under $20k at full occupancy
More Information MLS# 22312213
Address Information
Street #: 2620
Direction: N
Street Name: 14Th
Suffix: Avenue
State/Province: AZ
Zip Code: 85705
County: Pima
Country: USA
Location Tax Legal
Tax Code: 107-09-013A
Area: Central
Contract Information
Current Price: $1,650,000
Sold Price: $1,650,000
Listing Date: 2023-06-06
Status: Closed
Short Sale: No
Status Change Info
Off Market Date: 2023-06-06
Pending Date: 2023-07-13
Sold Date: 2023-07-13
Sold Price: $1,650,000
Sold Price/SqFt: 236.42
Lot Sz Sold Prc/SqFt: 35.89
Financing: Cash Owner Carryback
General Property Information
Property Sub-Type: Apartment
Construction Status: Existing
# Units: 19
Total Parking: 25
Multi-Tenant: Yes
Year Built: 1948
Lot Dimensions: 105x286
Lot Acres: 1.06
Lot Sqft: 45978
Lot Size Source: Assessor
Combined SqFt: 6979
Source of SqFt: Assessor
List Price/SqFt: 271.53
Lot Size Price/SqFt: 41.22
Remarks Misc
Geo Lat: 32.254449
Geo Lon: -110.979618
Showing Information
Directions: From Oracle and Grant, West to 14th Avenue, North to property.
Income
Gross Scheduled Rent: 16900
Vacancy Loss: 1800
Other Income: 2047
Adjusted Gross: 17147
Analysis
Cap Rate %: 6.5
Gross Rent Multi: 96.23
Vacancy Rate %: 10.65
Expenses
Captial Expenses: 16524
Gas/Electric: 6149
Maintenance Supplies: 20992
Management: 12085
Taxes/Assessments: 5259
Water/Sewer: 13719
Unit Information
Apartment: Low Rise
Apartment Unit Information
# of Units/1 BR: 11
Avg Mo Rent/1 BR: 700
# of Units/2 BR: 4
Avg Mo Rent/2 BR: 850
# of Units/Other: 4
Avg Mo Rent/Other: 1100
Space Information
Ceiling Height: 8ft
Electric
Electric Company: TEP
Property Features
Property Features: Smoke Detector
Construction: Brick
Roof: Rolled
Fenced Storage: No
Main Cooling: Ceiling Fan(s); Evaporative Cooling; Wall Unit(s)
Main Heating: Baseboard; Electric; Natural Gas
Water Heater: Electric; Natural Gas
Gas: Natural
Sewer: Connected
Water: Public
Accessibility Option: None
Security: None
Fence: Block; Shared Fence
Landscape - Front: Low Care; Shrubs; Trees
Landscape - Rear: Low Care; Shrubs; Trees
Road Type: Gravel
Parking: Common
Lot Features: Adjacent to Alley; North/South Exposure
Business Location: Free Standing Bldg
Traffic Count: Unknown
Terms: Cash; Conventional; Exchange; Owner Carry; Submit
Possession: Recording
Submit With Offer: Loan Status; Proof of Funds
Property Disclosures: Lead Based Paint; Seller Prop Disclosure
Special Conditions: None
Listing Office: Pinnacle Realty and Investment Advisors LLC
Last Updated: December - 22 - 2024
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