1218 E Blacklidge Drive, Tucson, AZ 85719

$2,850,000
Property Type: Commercial Square Footage: 22,217 Lot Size (sq. ft.): 86 Status: Closed
Current Price: $2,850,000 List Date: 9/18/2018 Last Modified: 12/10/2024

Overview

Description

Brand New Condo community consisting of 13 3-bed/3-bath Units in Central Tucson. Next to The UofA campus and would be perfect for student housing. All units will have granite countertops and stainless steel appliances, covered patios and 2 car garages, Laundry area in each unit. Separately metered utilities. Compare other New construction apartment rents which are selling out at twice as higher rents than on this pro forma. Easy to rent. Student housing rents per bedroom. Please call listing agents to view since under construction. Completion is estimated in FEB. Bring your 1031 exchange. Best opportunity in Tucson for this price. Interior Pictures shown are not of the completed project but are an indication of the finishes. New pictures will be uploaded once complete.

Listing Details MLS# 21825274

Address Information

Street #
1218
Direction
E
Street Name
Blacklidge
Suffix
Drive
State/Province
AZ
Zip Code
85719
County
Pima
Country
USA

Location, Tax & Legal

Tax Code
113-08-1060
Area
Central
Tax Year
2017
Taxes
3207.62
Assessments
0
Taxes For
Only for Land
Legal Description
CATALINA POULTRY ACRES UNIT NO 2 LOT 18
Municipality/Zoning
Tucson - R2
Fire Protection
Included in Taxes
FEMA Flood Zone
No
Municipal Flood Zone
No

General Property Information

Property Sub-Type
Apartment
Construction Status
New Construction
# Units
13
Total Parking
52
Multi-Tenant
Yes
Year Built
2018
Lot Dimensions
irregular
Lot Acres
0.85
Lot Sqft
36934
Lot Size Source
Assessor
Combined SqFt
22217
Source of SqFt
Builder
List Price/SqFt
144.03
Lot Size Price/SqFt
86.64

Property Features

Property Features: Interior Steps; Smoke Detector Construction: Frame - Stucco Roof: Tile Fenced Storage: No Main Cooling: Central Air Main Heating: Electric; Forced Air Water Heater: Electric Gas: None Sewer: Connected Water: Public Accessibility Option: None Security: None Fence: Block Landscape - Front: Low Care Landscape - Rear: Low Care Road Type: Paved Traffic Count: Unknown Terms: Cash; Conventional Possession: See Remarks

Contract Information

Short Sale
No

Status Change Info

Off Market Date
2019-03-29
Pending Date
2019-05-21
Sold Date
2019-05-30
Sold Price/SqFt
128.28
Lot Sz Sold Prc/SqFt
77.16
Financing
Conventional

More Information

Showing Information

Directions
From Mountain & Glenn, North to Blacklidge, West to address.

Income

Gross Scheduled Rent
327600
Vacancy Loss
16380
Adjusted Gross
311220
Net Opp Income
77036

Analysis

Cap Rate %
8.08
Vacancy Rate %
5

Expenses

Figures Presented
Proforma
Insurance
15000
Management
26208
Taxes/Assessments
26000

Unit Information

Other
Student Housing

Apartment Unit Information

# of Units/3 BR
13
Avg Mo Rent/3 BR
1950

Electric

Electric Company
TEP

Gas

None
Yes

Construction

Frame - Stucco
Yes

Sewer

Connected
Yes

Roof

Tile
Yes

Water

Public
Yes

Property Features

Interior Steps
Yes
Smoke Detector
Yes

Fence

Block
Yes

Road Type

Paved
Yes

Fenced Storage

No
Yes

Main Cooling

Central Air
Yes

Main Heating

Electric
Yes
Forced Air
Yes

Water Heater

Electric
Yes

Terms

Cash
Yes
Conventional
Yes

Accessibility Option

None
Yes

Security

None
Yes

Sold Info

Seller Concessions
0

Landscape - Front

Low Care
Yes

Landscape - Rear

Low Care
Yes

Traffic Count

Unknown
Yes

Possession

See Remarks
Yes
Listing Office: Keller Williams Southern Arizona
IDX
Last Updated: December - 10 - 2024
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