$1,175,000
Tucson, AZ 85712
MLS# 21700516
Status: Closed
14080 sqft
1 / 17
Property Description
This property is now open for bid with a bid deadline of October 16th. The list price is no way reflective of what the seller may be willing to accept and will consider all offers. 32 unit multi-family ripe with potential. Convert 16 units into full one bedroom units, lease up to stabilization at market rates and purchase at an expected 11% cap rate based on resulting income and expenses central strong rental market location.
Details
Maps
Documents
Address Information
Street #: 4001
Direction: E
Street Name: Monte Vista
Suffix: Drive
State/Province: AZ
Zip Code: 85712
County: Pima
Country: USA
Location Tax Legal
Tax Code: 110-06-080A
Area: Central
Subdivision: N/A
Contract Information
Current Price: $1,175,000
Sold Price: $1,175,000
Listing Date: 2017-01-05
Status: Closed
Method of Title: Fee (Simple)
Distressed Info: None
Status Change Info
Off Market Date: 2017-10-10
Pending Date: 2017-11-08
Sold Date: 2017-11-09
Sold Price: $1,175,000
Sold Price/SqFt: 83.45
Lot Sz Sold Prc/SqFt: 27.98
How Sold: Cash
Showing Information
Directions: from downtown east on Broadway, north (left) on Alvernon then east (right) on Monte Vista to address (property on left)
General Property Information
Attached/Detached: Attached
Construction Status: Existing
Lot Dimensions: rectangle
Lot Acres: 0.96
Lot Sqft: 42000
Lot Size Source: Assessor
Combined SqFt: 14080
Year Built: 1978
School District: Other
Elementary School: Other
Middle School: Other
High School: Other
Horse Property: No
Horse Facilities: No
List Price/SqFt: 142.05
Lot Size Price/SqFt: 47.62
Remarks Misc
Geo Lat: 32.260171
Geo Lon: -110.907627
Unit Info
# of Units/1 BR: 32
Avg Mo Rent/1 BR: 450
Unit 1 Information
Monthly Rent: 395
# Full Baths: 1
SqFt: 425
Occupancy: Yes
Stories: Two
Floor: 1st
Furnished: No
Parking: On Property
Analysis
Cap Rate %: 10.79
Gross Rent Multi: 7.47
Vacancy Rate %: 5
Exp/SqFt: 2.16
Exp % of Gross: 19.31
Income
Gross Scheduled Rent: 162240
Vacancy Loss: 8112
Other Income: 3063
Adjusted Gross: 157191
Total Expenses: 30354
Net Opp Income: 126837
Expenses
Admin Expenses: 2373
Gas/Electric: 1800
Insurance: 4813
Maintenance Supplies: 500
Taxes/Assessments: 9964
Water/Sewer: 10904
Figures Presented: Proforma
Electric
Electric Company: TEP
Utilities Paid
Cable TV: Tenant
Electric: Owner
Gas: Owner
Insurance: Owner
Sewer: Owner
Taxes: Owner
Trash: Owner
Water: Owner
Driveway
Paved: Asphalt
Subdivision Restrict
Age Restrictions: No
Deed Restrictions: No
CC&Rs: No
Home Protection
Offered: No
Property Features
Construction: Frame; Frame - Stucco
Style: Contemporary
Roof: Shingle
Living Areas: Living Room
Dining Areas: Eat-In Kitchen
Dining Room: None
Breakfast: None
Kitchen Features: Electric Range; Prep Sink; Refrigerator
Bathroom Features: Shower & Tub/Hall
Laundry: Facility
Extra Room: None
Interior Features: Ceiling Fan(s); Smoke Detector; Walk-In Closet(s)
Floor Covering: Carpet; Vinyl
Window Covering: Some
Technology: High Speed Internet
Main Cooling: Central Air
Main Heating: Electric; Forced Air
Water Heater: Electric
Gas: Natural
Sewer: Connected
Water: Public
Accessibility Option: Wide Doorways
Security: None
Pool: Community
Spa: None
Fence: Block; Chain Link; Wrought Iron
Landscape - Front: Grass
Landscape - Rear: Grass; Shrubs; Sprinkler/Drip; Trees
View: Residential
Road Type: Paved
RV Parking: Space Available
Exterior Feature: Built-in Barbecue; Courtyard
Lot Features: Adjacent to Alley
Neighborhood Features: Paved Street; Pool
Terms: Cash; Conventional; Exchange; Submit
Submit With Offer: Proof of Funds
Property Disclosures: Public Report; Unknown
Special Conditions: Public Report
Rent Roll 
Listing Office: Equilibrium Realty
Last Updated: December - 09 - 2024
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