1525 N Euclid Avenue, Tucson, AZ 85719

$4,250,000
Property Type: Multi-Family Square Footage: 21,148 Lot Size (sq. ft.): 65 Status: Closed
Current Price: $4,250,000 List Date: 3/13/2017 Last Modified: 12/09/2024

Overview

Description

AMAZING OPPORTUNITY to own a Gorgeously remodeled (2016) 58 unit apartment complex less than 5 blocks to the University of Arizona. Fully leased through July 2018 (Yes, 2018!!). Each unit had new hardwood cabinets, granite counter tops, porcelain tile, paint, dishwasher, Microwave & electrical fixtures installed during 2016. New Clubhouse with leasing office and laundry room built in 2016. New block walls and metal gates installed 2016. Swimming pool, turf, and landscaping updated 2016. Complex built with concrete block exterior walls and concrete floors between units (except in bathrooms (plumbing). New Master Lease starting 8/1/2017. Numbers presented reflect new master lease. One of members of the Seller is AZ licensed broker. Please do not go on the property or disturb tenants.

Listing Details MLS# 21707065

Address Information

Street #
1525
Direction
N
Street Name
Euclid
Suffix
Avenue
State/Province
AZ
Zip Code
85719
County
Pima
Country
USA

Location, Tax & Legal

Tax Code
123-15-101A
Area
Central
Subdivision
University Home Addition
Comparable Only Listing
No
Tax Year
2016
Taxes
25386
Assessments
0
Legal Description
UNIVERSITY HOME BLK 9 EXC W116.7' S157.5'& SPNDRL NW COR & EXC W182.41' E282.41' S170' & EXC E100' S115' & SPNDRL NE COR
Township
14
Community
None
Range
14
Section
6
Municipality/Zoning
Tucson - O3
Fire Protection
Included in Taxes

General Property Information

Lot Dimensions
Irregular
Lot Acres
1.48
Lot Sqft
64469
Lot Size Source
Assessor
Combined SqFt
21148
Year Built
1978
List Price/SqFt
200.96
Lot Size Price/SqFt
65.92

Property Features

Construction: Concrete Block Main Cooling: Central Air Main Heating: Electric; Forced Air Sewer: Connected Water: Public Neighborhood Features: Gated Community Terms: Cash; Conventional Property Disclosures: Unknown

Contract Information

Distressed Info
None

Status Change Info

Off Market Date
2017-04-17
Pending Date
2017-06-23
Sold Date
2017-08-09
Sold Price/SqFt
200.96
Lot Sz Sold Prc/SqFt
65.92
How Sold
Conventional

More Information

Showing Information

Directions
From Speedway and Euclid. North to Address. Located on SW Corner of Euclid and Lee.

Unit Info

# of Units/Studios
56
Avg Mo Rent/Studios
750
# of Units/1 BR
2
Avg Mo Rent/1 BR
750
# of Units/Other
Yes
Avg Mo Rent/Other
112.5
Avg Mo Rent/2 BR
0
Avg Mo Rent/3 BR
0

Analysis

Cap Rate %
9.37
Gross Rent Multi
8.12
Exp/SqFt
5.93
Exp % of Gross
23.95
Vacancy Rate %
0

Income

Gross Scheduled Rent
522000
Other Income
1400
Adjusted Gross
523400
Total Expenses
125370
Net Opp Income
398030
Vacancy Loss
0

Expenses

Admin Expenses
750
Capital Expenses
5000
Contract Services
8400
Insurance
7675
Maintenance Supplies
24000
Management
52200
Taxes/Assessments
25385
Other Expenses
1960
Figures Presented
Proforma
Gas/Electric
0
Resident Manager
0
Water/Sewer
0

Interior Features

Interior Steps
Yes

Miscellaneous

Master Water Meter
Yes
Package Available
Yes

Construction

Concrete Block
Yes

Sewer

Connected
Yes

Water

Public
Yes

Main Cooling

Central Air
Yes

Neighborhood Features

Gated Community
Yes

Main Heating

Electric
Yes
Forced Air
Yes

Terms

Cash
Yes
Conventional
Yes

Sold Info

Seller Concessions
0

Property Disclosures

Unknown
Yes
Listing Office: Tucson Integrity Realty, LLC
IDX
Last Updated: December - 09 - 2024
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.