$1,250,000
Tucson, AZ 85716
MLS# 21802134
Status: Closed
10071 sqft
1 / 14
Property Description
MIDTOWN FLATS! TURNKEY RENTAL OPPORTUNITY. ANNUAL PROPERTY OPERATING DATA SHEET IS ATTACHED!! 11 beautifully-renovated units on over half an acre in top location. This property sits on a charming dead end street on the 3rd St bike path through Sam Hughes and the UofA. It has undergone a thorough renovation including the construction of a brand new unit. New roofs, many new HVAC's, lots of new plumbing and electrical related to new construction unit and a total cosmetic overhaul throughout. All units in great condition. There is considerable upside to market rents, since many of the new tenants received a discounted rent to compensate for major construction. This is not your typical generic, beige 1980's product. PRIME LOCATION! One of owners is Licensed Agent in the State of Arizona.
Details
Maps
Documents
Address Information
Street #: 3214
Direction: E
Street Name: 4th
Suffix: Street
State/Province: AZ
Zip Code: 85716
County: Pima
Country: USA
Location Tax Legal
Tax Code: 125-14-021F
Area: Central
Subdivision: Virginia Heights Amended
Contract Information
Current Price: $1,250,000
Sold Price: $1,250,000
Listing Date: 2018-01-20
Status: Closed
Method of Title: Fee (Simple)
Distressed Info: None
Status Change Info
Off Market Date: 2018-05-21
Pending Date: 2018-05-01
Sold Date: 2018-05-29
Sold Price: $1,250,000
Sold Price/SqFt: 124.12
Lot Sz Sold Prc/SqFt: 47.04
How Sold: Conventional
General Property Information
Attached/Detached: Attached
Construction Status: Existing
Lot Dimensions: Irregular
Lot Acres: 0.61
Lot Sqft: 26572
Lot Size Source: Assessor
Combined SqFt: 10071
Year Built: 1963
Total Parking: 12
School District: TUSD
Elementary School: Sam Hughes
Middle School: Maxwell K-8
High School: Tucson
Horse Property: No
Horse Facilities: No
List Price/SqFt: 128.59
Lot Size Price/SqFt: 48.74
Remarks Misc
Geo Lat: 32.230885
Geo Lon: -110.924086
Showing Information
Directions: SPEEDWAY/ COUNTRY CLUB S, E ON 4TH STREET TO ADDRESS
Unit 1 Information
Monthly Rent: 10075
# Beds: 15
# Full Baths: 16
# Half Baths: 1
SqFt: 8544
Occupancy: No
Stories: Two
Floor: 1st
Furnished: No
Parking: On Property
Analysis
Cap Rate %: 7.31
Gross Rent Multi: 10.13
Exp/SqFt: 3.18
Exp % of Gross: 25.96
Income
Gross Scheduled Rent: 120900
Other Income: 2500
Adjusted Gross: 123400
Total Expenses: 32036
Net Opp Income: 91364
Expenses
Admin Expenses: 1210
Contract Services: 2750
Insurance: 6700
Maintenance Supplies: 2200
Management: 8596
Taxes/Assessments: 5300
Water/Sewer: 5280
Figures Presented: Proforma
Electric
Electric Company: TEP
Security
Other: Gated
Utilities Paid
Cable TV: Tenant
Electric: Tenant
Gas: Owner
Insurance: Tenant
Landscaping: Owner
Sewer: Owner
Taxes: Owner
Trash: Owner
Water: Owner
RV Parking
Other: NONE
Subdivision Restrict
Age Restrictions: No
Deed Restrictions: Yes
CC&Rs: No
Home Protection
Offered: No
Property Features
Construction: Frame - Stucco
Style: Contemporary
Roof: Built-Up
Living Areas: Family Room; Great Room; Living Room; Off Kitchen
Dining Areas: Breakfast Nook; Dining in LR/GR; Eat-In Kitchen
Dining Room: Area
Breakfast: Area; Eat-In; Nook
Kitchen Features: Breakfast Bar; Electric Range; Kitchen Island; Dishwasher; Refrigerator
Bathroom Features: Shower & Tub/Primary; Shower & Tub/Hall
Laundry: Facility
Extra Room: Storage
Interior Features: Ceiling Fan(s); Smoke Detector; Split Bedroom Plan; Storage; Walk-In Closet(s)
Floor Covering: Carpet; Ceramic Tile; Concrete; Wood
Window Covering: Stay
Technology: High Speed Internet
Main Cooling: Central Air
Main Heating: Electric; Forced Air
Water Heater: Electric
Gas: None
Sewer: Connected
Water: Public
Accessibility Option: Wide Doorways
Pool: None
Spa: None
Fence: Wood
Landscape - Front: Low Care
Landscape - Rear: Low Care
View: Residential
Road Type: Paved
Driveway: None
Exterior Feature: Courtyard
Lot Features: East/West Exposure; North/South Exposure
Neighborhood Features: Gated Community; Paved Street; Sidewalks; Street Lights; Walking Trail
Terms: Cash; Conventional; Owner Carry
Submit With Offer: Loan Pre-Qualifiaction; Proof of Funds
Property Disclosures: Seller Prop Disclosure
Special Conditions: None
Annual Property Operating Data Sheet 
Listing Office: Bright Properties
Last Updated: December - 10 - 2024
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