1039 N Alamo Avenue, Tucson, AZ 85711

$2,000,000
Property Type: Multi-Family Square Footage: 42,717 Lot Size (sq. ft.): 31 Status: Closed
Current Price: $2,000,000 List Date: 12/18/2014 Last Modified: 12/08/2024

Overview

Description

Monterey Garden Apartments a 53 unit apartment community Located within the Wilmot Desert Estates subdivision near Speedway and Wilmot. Reflects pride of ownership!!! Large floor plans 675 sqft 1 bdrm 1 ba, 845 sqft 2 bdrm 1 ba, and 950 sqft 2 bdrm 2 ba. The owner has recently completed approximately 270K in capital improvements to include exterior paint, landscaping, roof, resurfacing of the parking lot, remodeled leasing office, new power transformer installed by the power company. Majority of the units have been remodeled to reflect a modern look with stained concrete floors or premium laminated flooring, appliances, stained real wood cabinets, window coverings, bath vanities, counter tops, plumbing and electric fixtures, door hardware. This is a turn key investment. Package is attached

Listing Details MLS# 21434344

Address Information

Street #
1039
Direction
N
Street Name
Alamo
Suffix
Avenue
State/Province
AZ
Zip Code
85711
County
Pima
Country
USA

Location, Tax & Legal

Tax Code
127-11-0700
Area
Central
Subdivision
Wilmot Desert Estates
Tax Year
2015
Taxes
18836.87
Assessments
0
Legal Description
Wilmot desert estates S200' N400' L 5 Aka: Monterey Garden Apartments
Township
14
Community
None
Range
14
Section
12
Municipality/Zoning
Tucson - C2
Fire Protection
Included in Taxes

General Property Information

Lot Dimensions
200'X309'
Lot Acres
1.42
Lot Sqft
61855
Lot Size Source
Assessor
Combined SqFt
42717
Year Built
1970
List Price/SqFt
45.65
Lot Size Price/SqFt
31.53

Property Features

Construction: Concrete Block Main Cooling: Zoned Sewer: Connected Water: Public Security: None Terms: Cash; Conventional Property Disclosures: Unknown

Contract Information

Distressed Info
None

Status Change Info

Off Market Date
2015-02-12
Pending Date
2015-04-03
Sold Date
2015-04-30
Sold Price/SqFt
46.82
Lot Sz Sold Prc/SqFt
32.33
How Sold
Conventional

More Information

Showing Information

Directions
Speedway and Wilmot west to Alamo south to Monterey Garden Apartments

Unit Info

# of Units/1 BR
20
Avg Mo Rent/1 BR
600
# of Units/2 BR
24
Avg Mo Rent/2 BR
700
# of Units/Other
8
Avg Mo Rent/Other
825
Avg Mo Rent/Studios
0
Avg Mo Rent/3 BR
0

Analysis

Cap Rate %
6.87
Gross Rent Multi
5.62
Vacancy Rate %
14.4
Exp/SqFt
5.12
Exp % of Gross
61.4

Income

Gross Scheduled Rent
407700
Vacancy Loss
58708
Other Income
6983
Adjusted Gross
355975
Total Expenses
218567
Net Opp Income
137408

Expenses

Admin Expenses
4459
Contract Services
5350
Gas/Electric
74000
Insurance
13000
Maintenance Supplies
32957
Management
24820
Taxes/Assessments
18837
Water/Sewer
45144
Figures Presented
Actual
Capital Expenses
0
Resident Manager
0
Other Expenses
0

Miscellaneous

Master Elec Meter
Yes
Master Gas Meter
Yes
Master Water Meter
Yes
Package Available
Yes

Construction

Concrete Block
Yes

Sewer

Connected
Yes

Water

Public
Yes

Main Cooling

Zoned
Yes

Terms

Cash
Yes
Conventional
Yes

Security

None
Yes

Property Disclosures

Unknown
Yes
Listing Office: Realty Executives Arizona Territory
IDX
Last Updated: December - 08 - 2024
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