835 N Alvernon Way, Tucson, AZ 85711
$2,000,000
Property Type:
Multi-Family
Square Footage:
44,644
Lot Size (sq. ft.):
107,593
Status:
Closed
Current Price:
$2,000,000
List Date:
7/07/2003
Last Modified:
10/25/2024
Description
811&835 N. Alvernon the 2 contiguous apartment complexes are the Montclair 40 units and Aristocrat 21 units.There is a good mix of studio 1,2 & 3 bdrm units.It consists of 2 residential buildings with laundry rm&pool.Both complexes are totally enclosed for the security of the residents.Roof at montclari replaced in 1997 all hotwater heaters have been replaced & air conditioners are also new.There is an empty R-2 lot to the West,approx.38,000sqft.
More Information MLS# 2229800
Address Information
Street #: 835
Direction: N
Street Name: Alvernon
Suffix: Way
State/Province: AZ
Zip Code: 85711
County: Pima
Country: USA
Location Tax Legal
Tax Code: 125-11-190B
Area: Central
Subdivision: Speedway View Addition
Contract Information
Current Price: $2,000,000
Sold Price: $2,000,000
Listing Date: 2002-12-17
Status: Closed
Status Change Info
Off Market Date: 2003-09-03
Pending Date: 2003-06-19
Sold Date: 2003-09-03
Sold Price: $2,000,000
Sold Price/SqFt: 44.79
Lot Sz Sold Prc/SqFt: 18.58
How Sold: Conventional
General Property Information
Lot Dimensions: Irregular
Lot Acres: 2.47
Lot Sqft: 107593
Lot Size Source: Other
Combined SqFt: 44644
Year Built: 1961
List Price/SqFt: 44.8
Lot Size Price/SqFt: 18.58
Remarks Misc
Geo Lat: 32.2323
Geo Lon: -110.910255
Showing Information
Directions: Alvernon Way/Speedway go 3 blocks South of Speedway on Alvernon
Unit Info
# of Units/Studios: 7
Avg Mo Rent/Studios: 363
# of Units/1 BR: 30
Avg Mo Rent/1 BR: 442
# of Units/2 BR: 20
Avg Mo Rent/2 BR: 551
# of Units/3 BR: 4
Avg Mo Rent/3 BR: 625
Analysis
Cap Rate %: 8.54
Gross Rent Multi: 5.89
Vacancy Rate %: 7.09
Exp/SqFt: 3.77
Exp % of Gross: 49.63
Income
Gross Scheduled Rent: 360420
Vacancy Loss: 25544
Other Income: 4500
Adjusted Gross: 339376
Total Expenses: 168455
Net Opp Income: 170921
Expenses
Gas/Electric: 60000
Insurance: 8726
Maintenance Supplies: 33588
Management: 16465
Resident Manager: 16465
Taxes/Assessments: 18272
Water/Sewer: 10000
Other Expenses: 4939
Interior Features
Interior Steps: No
Miscellaneous
Master Elec Meter: Yes
Master Gas Meter: Yes
Master Water Meter: Yes
Package Available: Yes
Property Features
Construction: Concrete Block
Main Cooling: Central Air
Main Heating: Forced Air; Natural Gas
Sewer: Connected
Water: Public
Terms: Cash; Conventional
Property Disclosures: Lead Based Paint; Military Airport Vct
Sold Info: Financing
Documents
Lead Paint Discl ›Listing Office: Long Realty Company
Last Updated: October - 25 - 2024
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