1926-1944 N Tucson Boulevard, Tucson, AZ 85716 (MLS# 22228621)

1926-1944 N Tucson Boulevard, Tucson, AZ 85716

$1,400,000

1BR Units (1930, 1928, 1926, 1934, 1932 N Tucson Blvd)

Studios (1938, 1940, 1942, 1944 N Tucson Blvd)

Property Type: Commercial Square Footage: 5,906 Lot Size (sq. ft.): 38 Status: Closed

Current Price: $1,400,000 List Date: 11/08/2022 Last Modified: 12/20/2024

Overview

Description

Rarely do you find an investment property with so much character, charm, pride of ownership, lush vegetation and located within a mile of the U of A. This fabulous property boasts a 2BR/2BA, 1BR/1BA and 4 studio units that have all been beautifully remodeled plus 4 more 1BR/1BA units that have all been lovingly cared for. 6 units are free standing and have covered parking. All units have fabulous wood beam ceilings, tiled floors and A/C. Besides the 7 covered parking spaces, there are 14 additional parking spaces. All leases are month-to-month except 1 studio which has a year lease. Rents are accurate with tons of room for increasing. 1 studio currently being leased on a month-to-month basis to a family member for $200/month. Owner pays for master metered water for all units.

Listing Details MLS# 22228621

Address Information

Street #: 1926-1944
Direction: N
Street Name: Tucson
Suffix: Boulevard
State/Province: AZ
Zip Code: 85716
County: Pima
Country: USA

Location, Tax & Legal

Tax Code: 123-02-1950
Area: Central
Tax Year: 2022
Taxes: 5899
Assessments: 0
Taxes For: Building & Land
Legal Description: NEW DEAL ACRES LOT 7 & S10' LOT 6 & N10' LOT 8 BLK 10
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: Existing
# Units: 10
Total Parking: 21
Multi-Tenant: No
Year Built: 1961
Lot Dimensions: 121 x 302 (approx)
Lot Acres: 0.84
Lot Sqft: 36542
Lot Size Source: Assessor
Combined SqFt: 5906
Source of SqFt: Assessor
List Price/SqFt: 237.05
Lot Size Price/SqFt: 38.31

Property Features

Property Features: Smoke Detector; Storage Construction: Brick Roof: Built-Up - Reflect Main Cooling: Central Air; Zoned Main Heating: Electric; Gas Pac; Zoned Water Heater: Natural Gas Gas: Natural Sewer: Connected Water: Public Security: Security Lights Green Features: Tankless Water Heater Fence: None Landscape - Front: Decorative Gravel; Desert Plantings; Sprinkler/Drip; Trees Landscape - Rear: Decorative Gravel; Desert Plantings; Sprinkler/Drip; Trees Road Type: Paved Parking: Parking Structure; Private Parking Lot Features: Subdivided Terms: Cash; Conventional; Owner Carry Possession: See Remarks Submit With Offer: Loan Pre-Qualifiaction; Proof of Funds Property Disclosures: Lead Based Paint; Leases; Military Airport Vct Special Conditions: None Restrictions: CC&R

Contract Information

Method of Title: Fee (Simple)
Short Sale: No

Status Change Info

Off Market Date: 2023-01-30
Pending Date: 2023-03-13
Sold Date: 2023-03-30
Sold Price/SqFt: 237.05
Lot Sz Sold Prc/SqFt: 38.31
Financing: Cash

More Information

Showing Information

Directions: From Grant, S-Tucson Blvd to address (El Mirasol Apartments)

Income

Gross Scheduled Rent: 89400
Other Income: 1200
Adjusted Gross: 90600
Net Opp Income: 65438
Vacancy Loss: 0

Analysis

Cap Rate %: 4.67
Gross Rent Multi: 15.45
Vacancy Rate %: 0

Expenses

Admin Expenses: 950
Contract Services: 5230
Figures Presented: Actual
Insurance: 2074
Maintenance Supplies: 5029
Taxes/Assessments: 5780
Water/Sewer: 5599
Other Expenses: 500

Unit Information

Apartment: Low Rise

Apartment Unit Information

# of Units/Studios: 4
Avg Mo Rent/Studios: 600
# of Units/1 BR: 5
Avg Mo Rent/1 BR: 800
# of Units/2 BR: Yes
Avg Mo Rent/2 BR: 1450

Main Cooling

Other: Mini Split
Central Air: Yes
Zoned: Yes

Electric

Electric Company: TEP

Parking

# Covered Parking: 7
Other: 14 Uncovered
Parking Structure: Yes
Private Parking: Yes

Gas

Natural: Yes

Construction

Brick: Yes

Sewer

Connected: Yes

Roof

Built-Up - Reflect: Yes

Water

Public: Yes

Property Features

Smoke Detector: Yes
Storage: Yes

Fence

None: Yes

Road Type

Paved: Yes

Lot Features

Subdivided: Yes

Main Heating

Electric: Yes
Gas Pac: Yes
Zoned: Yes

Water Heater

Natural Gas: Yes

Terms

Cash: Yes
Conventional: Yes
Owner Carry: Yes

Submit With Offer

Loan Pre-Qualifiaction: Yes
Proof of Funds: Yes

Security

Security Lights: Yes

Green Features

Tankless Water Heater: Yes

Sold Info

Seller Concessions: 0

Landscape - Front

Decorative Gravel: Yes
Desert Plantings: Yes
Sprinkler/Drip: Yes
Trees: Yes

Landscape - Rear

Decorative Gravel: Yes
Desert Plantings: Yes
Sprinkler/Drip: Yes
Trees: Yes

Freeway/Highway

2.1 - 5 Mile: Yes

Possession

See Remarks: Yes

Restrictions

CC&R: Yes

Property Disclosures

Lead Based Paint: Yes
Leases: Yes
Military Airport Vct: Yes

Special Conditions

None: Yes

Documents

Aerial ›

Site Plan ›

CCRS ›

Listing Office: Long Realty

Last Updated: December - 20 - 2024

Broker Attribution: 520-977-4770

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