$1,150,000
Tucson, AZ 85719
MLS# 22122299
Status: Closed
11338 sqft
1 / 48
Property Description
Downtown multifamily portfolio just north of the UofA in prime location! Portfolio consists of 3 contiguous parcels at 1030, 1016 & 1014 E Lee St. 1030 E Lee St is a 12 unit apartment complex with 2 studios, 9 1 bedroom units and 1 2 bed 1 bath unit. 1016 E Lee St is a 5 plex with 4 1 bedroom units and 1 2 bed unit. 1014 E Lee St is a 2 bed 1 bath single family home. Excellent value add opportunity, see brochure in docs tab and schedule your showing today!
Details
Maps
Documents
Address Information
Street #: 1030
Direction: E
Street Name: Lee
Suffix: Street
State/Province: AZ
Zip Code: 85719
County: Pima
Country: USA
Location Tax Legal
Tax Code: 123-15-233A
Area: Central
Contract Information
Current Price: $1,150,000
Sold Price: $1,150,000
Listing Date: 2021-08-30
Status: Closed
Short Sale: No
Status Change Info
Off Market Date: 2021-10-13
Pending Date: 2021-10-27
Sold Date: 2021-12-28
Sold Price: $1,150,000
Sold Price/SqFt: 101.43
Lot Sz Sold Prc/SqFt: 37.71
Financing: Other
General Property Information
Property Sub-Type: Apartment
Year Built: 1937
Lot Dimensions: irregular
Lot Acres: 0.7
Lot Sqft: 30492
Lot Size Source: Assessor
Combined SqFt: 11338
Source of SqFt: Owner
List Price/SqFt: 105.84
Lot Size Price/SqFt: 39.35
Remarks Misc
Geo Lat: 32.2413
Geo Lon: -110.955825
Showing Information
Directions: From Speedway & Park, north on park to Lee. East on Lee to address, properties on your right.
Income
Gross Scheduled Rent: 261600
Vacancy Loss: 15696
Other Income: 300
Adjusted Gross: 246204
Net Opp Income: 138304
Analysis
Cap Rate %: 8.64
Gross Rent Multi: 4.67
Vacancy Rate %: 6
Expenses
Captial Expenses: 60385
Figures Presented: Proforma
Insurance: 7600
Maintenance Supplies: 400000
Management: 20000
Taxes/Assessments: 6270
Unit Information
Apartment: Low Rise
Apartment Unit Information
# of Units/Studios: 2
Avg Mo Rent/Studios: 1000
# of Units/1 BR: 13
Avg Mo Rent/1 BR: 1140
# of Units/2 BR: 3
Avg Mo Rent/2 BR: 1400
Electric
Electric Company: TEP
Sold Info
Seller Concessions: 15000
Property Features
Property Features: Smoke Detector
Roof: Built-Up; Shingle
Fenced Storage: No
Main Cooling: Central Air
Main Heating: Forced Air; Natural Gas
Water Heater: Electric; Natural Gas
Gas: Natural
Sewer: Connected
Water: Public
Accessibility Option: Level
Security: Window Bars
Landscape - Front: Low Care
Road Type: Paved
Parking: Private Parking
Lot Features: Adjacent to Alley
Traffic Count: Unknown
Terms: Cash; Conventional; Submit
Possession: Negotiable
Submit With Offer: Proof of Funds
Property Disclosures: Lead Based Paint; Unknown
Special Conditions: Fix Up
Property Flyer 
Listing Office: Realty Executives Arizona Territory
Last Updated: December - 14 - 2024
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