3052 N Alvernon Way, Tucson, AZ 85712
$1,550,000
Property Type:
Commercial
Square Footage:
8,800
Lot Size (sq. ft.):
25,228
Status:
Closed
Current Price:
$1,550,000
List Date:
6/26/2023
Last Modified:
12/21/2024
Description
20 interior unit inspections occurred on 7.1.2023 Confirmed by contractor that 18 studios can be converted to 1 bedrooms and 2 units can be converted to 2 bedrooms. Approval needed by City of Tucson Section 8. Projected NOI is based on one bedroom renting for 950/month and 2 bedroom renting for 1100/month
More Information MLS# 22305621
Address Information
Street #: 3052
Direction: N
Street Name: Alvernon
Suffix: Way
State/Province: AZ
Zip Code: 85712
County: Pima
Country: USA
Location Tax Legal
Tax Code: 110-06-027A
Area: Central
Contract Information
Current Price: $1,550,000
Sold Price: $1,550,000
Listing Date: 2023-03-13
Status: Closed
Short Sale: No
Status Change Info
Off Market Date: 2023-07-14
Pending Date: 2023-10-20
Sold Date: 2023-10-20
Sold Price: $1,550,000
Sold Price/SqFt: 176.14
Lot Sz Sold Prc/SqFt: 61.44
Financing: Cash Owner Carryback
General Property Information
Property Sub-Type: Apartment
Construction Status: Existing
# Units: 20
Total Parking: 20
Multi-Tenant: Yes
Year Built: 1979
Lot Dimensions: 106 x 238
Lot Acres: 0.2
Lot Sqft: 25228
Lot Size Source: Assessor
Combined SqFt: 8800
Source of SqFt: Assessor
List Price/SqFt: 221.59
Lot Size Price/SqFt: 77.3
Remarks Misc
Geo Lat: 32.262909
Geo Lon: -110.909299
Showing Information
Directions: Alvernon & Grant N to 3052
Income
Gross Scheduled Rent: 231600
Adjusted Gross: 216700
Analysis
Cap Rate %: 6.87
Gross Rent Multi: 8.08
Expenses
Captial Expenses: 1500
Figures Presented: Proforma
Gas/Electric: 5930.61
Maintenance Supplies: 17465
Management: 9994.89
Taxes/Assessments: 8257
Water/Sewer: 10584
Unit Information
Apartment: Low Rise
Apartment Unit Information
# of Units/1 BR: 18
Avg Mo Rent/1 BR: 950
# of Units/2 BR: 2
Avg Mo Rent/2 BR: 1100
Space Information
Ceiling Height: 8ft
Door Width: 3ft
Electric
Electric Company: TEP
Property Features
Property Features: Smoke Detector
Construction: Frame - Stucco
Roof: Built-Up; Tile
Fenced Storage: No
Main Cooling: Ceiling Fan(s); Window Unit(s)
Main Heating: Baseboard; Wall Furnace
Water Heater: Electric
Gas: None
Sewer: Connected
Water: Public
Fence: Chain Link; Shared Fence; Stucco Finish
Landscape - Front: Desert Plantings; Grass; Low Care; Shrubs
Landscape - Rear: Low Care
Road Type: Paved
Parking: Paved Parking
Lot Features: North/South Exposure
Business Location: Free Standing Bldg
Traffic Count: Unknown
Terms: Cash; Conventional; Submit
Possession: Recording
Submit With Offer: Lender Pre-Approval; 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 - 21 - 2024
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