$2,000,000
Tucson, AZ 85711
MLS# 21434344
Status: Closed
42717 sqft
1 / 23
Property Description
Monterey Garden Apartments a 53 unit apartment community Located within the Wilmot Desert Estates subdivision near Speedway and Wilmot. Reflects pride of ownership!!! Large floor plans 675 sqft 1 bdrm 1 ba, 845 sqft 2 bdrm 1 ba, and 950 sqft 2 bdrm 2 ba. The owner has recently completed approximately 270K in capital improvements to include exterior paint, landscaping, roof, resurfacing of the parking lot, remodeled leasing office, new power transformer installed by the power company. Majority of the units have been remodeled to reflect a modern look with stained concrete floors or premium laminated flooring, appliances, stained real wood cabinets, window coverings, bath vanities, counter tops, plumbing and electric fixtures, door hardware. This is a turn key investment. Package is attached
Details
Maps
Documents
Address Information
Street #: 1039
Direction: N
Street Name: Alamo
Suffix: Avenue
State/Province: AZ
Zip Code: 85711
County: Pima
Country: USA
Location Tax Legal
Tax Code: 127-11-0700
Area: Central
Subdivision: Wilmot Desert Estates
Contract Information
Current Price: $2,000,000
Sold Price: $2,000,000
Listing Date: 2014-12-17
Status: Closed
Distressed Info: None
Status Change Info
Off Market Date: 2015-02-12
Pending Date: 2015-04-03
Sold Date: 2015-04-30
Sold Price: $2,000,000
Sold Price/SqFt: 46.82
Lot Sz Sold Prc/SqFt: 32.33
How Sold: Conventional
Showing Information
Directions: Speedway and Wilmot west to Alamo south to Monterey Garden Apartments
General Property Information
Lot Dimensions: 200'X309'
Lot Acres: 1.42
Lot Sqft: 61855
Lot Size Source: Assessor
Combined SqFt: 42717
Year Built: 1970
List Price/SqFt: 45.65
Lot Size Price/SqFt: 31.53
Remarks Misc
Geo Lat: 32.235185
Geo Lon: -110.862938
Unit Info
# of Units/1 BR: 20
Avg Mo Rent/1 BR: 600
# of Units/2 BR: 24
Avg Mo Rent/2 BR: 700
# of Units/Other: 8
Avg Mo Rent/Other: 825
Analysis
Cap Rate %: 6.87
Gross Rent Multi: 5.62
Vacancy Rate %: 14.4
Exp/SqFt: 5.12
Exp % of Gross: 61.4
Income
Gross Scheduled Rent: 407700
Vacancy Loss: 58708
Other Income: 6983
Adjusted Gross: 355975
Total Expenses: 218567
Net Opp Income: 137408
Expenses
Admin Expenses: 4459
Contract Services: 5350
Gas/Electric: 74000
Insurance: 13000
Maintenance Supplies: 32957
Management: 24820
Taxes/Assessments: 18837
Water/Sewer: 45144
Figures Presented: Actual
Miscellaneous
Master Elec Meter: Yes
Master Gas Meter: Yes
Master Water Meter: Yes
Package Available: Yes
Property Features
Construction: Concrete Block
Main Cooling: Zoned
Sewer: Connected
Water: Public
Security: None
Terms: Cash; Conventional
Property Disclosures: Unknown
Marketing package 
Listing Office: Realty Executives Arizona Territory
Last Updated: December - 08 - 2024
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