$1,700,000
Tucson, AZ 85705
MLS# 9913695
Status: Closed
30600 sqft
1 / 1
Property Description
These Units Have Been Completely Rehabbed.Tenants Pay Own Utilities Except Water.This Would Make A Great Motel Because 66 Studios Have All New Kitch Ens.THE ACTUAL income for 2001 was 273,389.00 This property is Zoned C-1 and is ok for motel.call for appt to see .Actual cap rate is 7.55
Details
Maps
Address Information
Street #: 1240
Direction: N
Street Name: 7th
Suffix: Avenue
Apt/Unit #: 72
State/Province: AZ
Zip Code: 85705
County: Pima
Country: USA
Location Tax Legal
Tax Code: 115-08-0890
Area: Central
Subdivision: Highland Park Add Amd
Contract Information
Current Price: $1,700,000
Sold Price: $1,700,000
Listing Date: 1999-07-26
Status: Closed
Status Change Info
Off Market Date: 2002-11-20
Pending Date: 2002-06-20
Sold Date: 2002-11-20
Sold Price: $1,700,000
Sold Price/SqFt: 55.55
How Sold: Conventional
Showing Information
Directions: E On Speedway From Stone 1 Block Then North 1 Block To Property Blue Agave Apts
General Property Information
Lot Dimensions: 425X185
Combined SqFt: 30600
Year Built: 1955
List Price/SqFt: 58.82
Remarks Misc
Geo Lat: 32.237859
Geo Lon: -110.969852
Unit Info
# of Units/Studios: 66
Avg Mo Rent/Studios: 350
# of Units/1 BR: 4
Avg Mo Rent/1 BR: 410
# of Units/2 BR: 1
Avg Mo Rent/2 BR: 500
# of Units/3 BR: 1
Avg Mo Rent/3 BR: 650
Analysis
Cap Rate %: 7.59
Gross Rent Multi: 6.56
Vacancy Rate %: 10
Exp/SqFt: 4.48
Exp % of Gross: 50.13
Income
Gross Scheduled Rent: 300000
Vacancy Loss: 30000
Other Income: 4000
Adjusted Gross: 274000
Total Expenses: 137368
Net Opp Income: 136632
Expenses
Admin Expenses: 8211
Capital Expenses: 8578
Contract Services: 12254
Gas/Electric: 11145
Insurance: 3095
Maintenance Supplies: 33729
Management: 8200
Resident Manager: 23445
Taxes/Assessments: 14466
Water/Sewer: 7245
Other Expenses: 7000
Interior Features
Interior Steps: No
Sold Info
Down Payment: 350000
Miscellaneous
Master Elec Meter: No
Master Gas Meter: Yes
Master Water Meter: Yes
Package Available: No
Property Features
Construction: Slump Block
Main Cooling: Heat Pump
Main Heating: Heat Pump
Sewer: Connected
Water: Public
Security: None
Terms: Cash; Conventional
Property Disclosures: Unknown
Sold Info: Financing
Listing Office: Bright Realty & Development Lt
Last Updated: October - 26 - 2024
Warning: Undefined array key "CompensationDisclaimer" in /srv/users/ems/apps/ems-website/public/wp-content/plugins/flexmls-idx/pages/listing-details.php on line 711
The data relating to real estate listings on this website comes in part from the Internet Data Exchange (IDX) program of Multiple Listing Service of Southern Arizona. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listings provided by brokerages other than the listing brokerage here are identified with the MLSSAZ IDX Logo. All Information Is Deemed Reliable But Is Not Guaranteed Accurate. Listing information Copyright 2020 MLS of Southern Arizona. All Rights Reserved.