$2,450,000
Tucson, AZ 85716
MLS# 22426269
Status: Closed
15502 sqft
1 / 19
Property Description
Well maintained 26 unit apartment building in prime location near Grant Rd and Tucson Blvd. 24 single bedroom units and 2 two bedroom. U shaped configuration with pool in the center. Two levels. Unit have a balcony or patio, full kitchen, AC. 10 covered parking spaces and 16 surface parking spots. Side street parking available also. Laundry facilities on site. 1.5 miles from the U of A, public transportation available, shopping, restaurants and multiple amenities close by. A rare investment find in an ideal location. Value add potential! Please do not enter the property without authorization and respect for tenants rights.
Details
Maps
Address Information
Street #: 2559
Direction: N
Street Name: Tucson
Suffix: Boulevard
State/Province: AZ
Zip Code: 85716
County: Pima
Country: USA
Location Tax Legal
Tax Code: 112-06-4230
Area: Central
Contract Information
Current Price: $2,450,000
Sold Price: $2,450,000
Listing Date: 2024-10-23
Status: Closed
Method of Title: Fee (Simple)
Short Sale: No
Status Change Info
Off Market Date: 2024-11-15
Pending Date: 2025-01-30
Sold Date: 2025-01-31
Sold Price: $2,450,000
Sold Price/SqFt: 158.04
Lot Sz Sold Prc/SqFt: 82.96
Financing: Cash Owner Carryback
Showing Information
Directions: Tucson north of Grant and property is on the west side of the street
General Property Information
Property Sub-Type: Apartment
Construction Status: Existing
# Units: 26
Total Parking: 26
Multi-Tenant: Yes
Year Built: 1986
Lot Dimensions: 139 x 215 x 138 x 217
Lot Acres: 0.68
Lot Sqft: 29533
Lot Size Source: Assessor
Combined SqFt: 15502
Source of SqFt: Assessor
Leasable SqFt: 15362
List Price/SqFt: 164.49
Lot Size Price/SqFt: 86.34
Remarks Misc
Geo Lat: 32.25369
Geo Lon: -110.935747
Income
Gross Scheduled Rent: 268200
Vacancy Loss: 13410
Other Income: 2400
Adjusted Gross: 257190
Net Opp Income: 176730
Analysis
Cap Rate %: 6.54
Gross Rent Multi: 9.53
Vacancy Rate %: 5
Expenses
Insurance: 12000
Maintenance Supplies: 30000
Management: 19483
Taxes/Assessments: 11138
Other Expenses: 7841
Unit Information
Apartment: Low Rise
Apartment Unit Information
Avg Mo Rent/1 BR: 845
Avg Mo Rent/2 BR: 1035
Property Features
A.D.A. Compliant: Unknown
Electric
Electric Company: TEP
Parking
# Covered Parking: 10
Other: 16 uncovered
Property Features
Property Features: Smoke Detector
Construction: Frame - Stucco
Roof: Built-Up - Reflect
Fenced Storage: No
Main Cooling: Central Air; Zoned
Main Heating: Electric; Forced Air
Water Heater: Electric
Gas: None
Sewer: Connected
Water: Public
Security: None
Fence: Block
Landscape - Front: Low Care; Shrubs; Trees
Landscape - Rear: Decorative Gravel; Trees
Road Type: Paved
Parking: Fenced Parking; Free
Lot Features: North/South Exposure; Subdivided
Business Location: Free Standing Bldg
Traffic Count: Unknown
Terms: Cash; Conventional
Possession: Recording
Submit With Offer: Income Property Addendum; Loan Pre-Qualifiaction; Proof of Funds
Property Disclosures: Seller Prop Disclosure
Special Conditions: None
Restrictions: CC&R
Listing Office: Long Realty
Last Updated: July - 14 - 2025
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