$2,000,000
Tucson, AZ 85719
MLS# 21619102
Status: Closed
23522 sqft
1 / 9
Property Description
The Mark Hall Apartments, 29 brick units only 3 blocks from the University of Arizona. Apartment complexes in this area rarely come on the market. Well built UNDER RENTED (by approximately 20%-30%) property in prime location between downtown and the U of A. Only 4 blocks to 4th Ave. shops and restaurants. 24- 850-950 sq. ft. 2 bd. units, 2-studios , 2- 1 bd, and 1 -1075 sq. ft. 3 bd/2ba. 4 -2 bd. units and 1 -3bd/2ba have been totally remodeled with high-end materials. Community pool & owned laundry, Units are individually metered for gas & elec. Property is master metered for water and has two central hot water boilers. Gross income is based on current rents. Expenses are performa based on actual 2014 expenses. Longtime owner does majority of maintenance.repairs and management.
Details
Maps
Address Information
Street #: 814
Direction: E
Street Name: 9Th
Suffix: Street
State/Province: AZ
Zip Code: 85719
County: Pima
Country: USA
Location Tax Legal
Tax Code: 124-07-080B
Area: Central
Subdivision: Rieckers Addition
Contract Information
Current Price: $2,000,000
Sold Price: $2,000,000
Listing Date: 2016-07-11
Status: Closed
Distressed Info: None
Status Change Info
Off Market Date: 2016-07-15
Pending Date: 2016-08-06
Sold Date: 2016-09-30
Sold Price: $2,000,000
Sold Price/SqFt: 85.03
Lot Sz Sold Prc/SqFt: 74.03
How Sold: Conventional
Showing Information
Directions: 6th Ave & Euclid S to 9th. Left t property
General Property Information
Lot Dimensions: Irregular
Lot Acres: 0.62
Lot Sqft: 27017
Lot Size Source: Assessor
Combined SqFt: 23522
Year Built: 1969
List Price/SqFt: 91.83
Lot Size Price/SqFt: 79.95
Remarks Misc
Geo Lat: 32.223456
Geo Lon: -110.958744
Unit Info
# of Units/Studios: 2
Avg Mo Rent/Studios: 412
# of Units/1 BR: 2
Avg Mo Rent/1 BR: 462
# of Units/2 BR: 24
Avg Mo Rent/2 BR: 663
# of Units/3 BR: 1
Avg Mo Rent/3 BR: 990
# of Units/Other: 29
Analysis
Cap Rate %: 6.75
Gross Rent Multi: 9.75
Vacancy Rate %: 19.21
Exp/SqFt: 2.98
Exp % of Gross: 34.19
Income
Gross Scheduled Rent: 246450
Vacancy Loss: 47342
Other Income: 6000
Adjusted Gross: 205108
Total Expenses: 70117
Net Opp Income: 134991
Expenses
Contract Services: 5700
Gas/Electric: 3600
Insurance: 5404
Maintenance Supplies: 8324
Taxes/Assessments: 17089
Water/Sewer: 20000
Other Expenses: 10000
Figures Presented: Proforma
Interior Features
Interior Steps: Yes
Sold Info
Selling Comments: AS IS Sale
Miscellaneous
Master Water Meter: Yes
Package Available: Yes
Property Features
Construction: Brick
Main Cooling: Central Air
Main Heating: Forced Air; Natural Gas
Sewer: Connected
Water: Public
Security: None
Terms: Cash; Conventional
Property Disclosures: Unknown
Listing Office: Tierra Antigua Realty
Last Updated: December - 09 - 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.