1490 E Prospect Lane, Tucson, AZ 85719

New Listing
$3,500,000
Property Type: Commercial Square Footage: 11,942 Lot Size (sq. ft.): 112,843 Status: Active
Current Price: $3,500,000 List Date: 9/09/2026 Last Modified: 9/09/2026

Overview

Description

An extraordinary opportunity to own one of Tucson's most distinctive historic income-producing compounds, generating approximately **$246,000 in annual rental income** with significant additional upside. Behind gated entrances from both Prospect Lane and Limberlost, this unique property features **9 separate residences**, a resort-style pool, mature landscaping, fruit orchards, gardens and approximately **½ acre of undeveloped land with the potential to add up to 12 additional units**. The property offers a diversified income stream through a mix of long-term rentals, short-term rentals and owner-occupied space, while providing exceptional flexibility for a future owner

Supplements: Continue the current income strategy, expand the existing residential footprint, create a multi-generational family compound, corporate or executive housing destination, boutique retreat, or explore other potential uses. Unlike a typical multi-unit investment, this is an irreplaceable historic compound where each residence has its own character and ...

Listing Details MLS# 22621896

Address Information

Street #
1490
Direction
E
Street Name
Prospect
Suffix
Lane
State/Province
AZ
Zip Code
85719
County
Pima
Country
USA

Location, Tax & Legal

Tax Code
108-21-021H
Area
Central

General Property Information

Property Sub-Type
Apartment
# Units
Yes
Year Built
1956
Lot Dimensions
irr
Lot Acres
2.67
Lot Sqft
112843
Lot Size Source
Assessor
Combined SqFt
11942
Source of SqFt
Assessor
Leasable SqFt
11942
List Price/SqFt
293.08
Lot Size Price/SqFt
31.02

Property Features

Construction: Burnt Adobe Main Heating: Other Gas: Natural Sewer: Connected; Septic Water: Public; Pvt Well (Registered) Accessibility Option: None Landscape - Front: Desert Plantings; Natural Desert; Shrubs; Trees Landscape - Rear: Desert Plantings; Flower Beds; Natural Desert; Shrubs Road Type: Paved Lot Features: North/South Exposure Terms: Cash; Conventional Possession: Recording Property Disclosures: Lead Based Paint Special Conditions: None

Contract Information

Method of Title
Fee (Simple)
Short Sale
No

More Information

Income

Gross Scheduled Rent
250000

Main Cooling

Other
multiple units

Electric

Electric Company
TEP

Fence

Other
metal

Parking

# Covered Parking
5
Other
other
IDX
Listing Office: Griggs's Group Powered by The Altman Brothers
Last Updated: September - 09 - 2026
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