2559 N Tucson Boulevard, Tucson, AZ 85716 (MLS# 22426269)

2559 N Tucson Boulevard, Tucson, AZ 85716

$2,450,000

Property Type: Commercial Square Footage: 15,502 Lot Size (sq. ft.): 86 Status: Closed

Current Price: $2,450,000 List Date: 10/23/2024 Last Modified: 7/14/2025

Overview

Description

Well maintained 26 unit apartment building in prime location near Grant Rd and Tucson Blvd. 24 single bedroom units and 2 two bedroom. U shaped configuration with pool in the center. Two levels. Unit have a balcony or patio, full kitchen, AC. 10 covered parking spaces and 16 surface parking spots. Side street parking available also. Laundry facilities on site. 1.5 miles from the U of A, public transportation available, shopping, restaurants and multiple amenities close by. A rare investment find in an ideal location. Value add potential! Please do not enter the property without authorization and respect for tenants rights.

Listing Details MLS# 22426269

Address Information

Street #: 2559
Direction: N
Street Name: Tucson
Suffix: Boulevard
State/Province: AZ
Zip Code: 85716
County: Pima
Country: USA

Location, Tax & Legal

Tax Code: 112-06-4230
Area: Central
Tax Year: 2023
Taxes: 11138
Assessments: 0
Taxes For: Building & Land
Legal Description: 2 lots. 112-06-4230: From parcel:001010010/W140' E185' S140' N170' Se4 Sw4 .45 Ac Sec 32-13-14 112-06-4220 in remarks
Development Name: Sudana Catalina View Addition
Municipality/Zoning: Tucson - R3
Fire Protection: Included in Taxes
FEMA Flood Zone: No
Municipal Flood Zone: No

General Property Information

Property Sub-Type: Apartment
Construction Status: Existing
# Units: 26
Total Parking: 26
Multi-Tenant: Yes
Year Built: 1986
Lot Dimensions: 139 x 215 x 138 x 217
Lot Acres: 0.68
Lot Sqft: 29533
Lot Size Source: Assessor
Combined SqFt: 15502
Source of SqFt: Assessor
Leasable SqFt: 15362
List Price/SqFt: 164.49
Lot Size Price/SqFt: 86.34

Property Features

Property Features: Smoke Detector Construction: Frame - Stucco Roof: Built-Up - Reflect Fenced Storage: No Main Cooling: Central Air; Zoned Main Heating: Electric; Forced Air Water Heater: Electric Gas: None Sewer: Connected Water: Public Security: None Fence: Block Landscape - Front: Low Care; Shrubs; Trees Landscape - Rear: Decorative Gravel; Trees Road Type: Paved Parking: Fenced Parking; Free Lot Features: North/South Exposure; Subdivided Business Location: Free Standing Bldg Traffic Count: Unknown Terms: Cash; Conventional Possession: Recording Submit With Offer: Income Property Addendum; Loan Pre-Qualifiaction; Proof of Funds Property Disclosures: Seller Prop Disclosure Special Conditions: None Restrictions: CC&R

Contract Information

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

Status Change Info

Off Market Date: 2024-11-15
Pending Date: 2025-01-30
Sold Date: 2025-01-31
Sold Price/SqFt: 158.04
Lot Sz Sold Prc/SqFt: 82.96
Financing: Cash Owner Carryback

More Information

Showing Information

Directions: Tucson north of Grant and property is on the west side of the street

Income

Gross Scheduled Rent: 268200
Vacancy Loss: 13410
Other Income: 2400
Adjusted Gross: 257190
Net Opp Income: 176730

Analysis

Cap Rate %: 6.54
Gross Rent Multi: 9.53
Vacancy Rate %: 5

Expenses

Insurance: 12000
Maintenance Supplies: 30000
Management: 19483
Taxes/Assessments: 11138
Other Expenses: 7841

Unit Information

Apartment: Low Rise

Apartment Unit Information

Avg Mo Rent/1 BR: 845
Avg Mo Rent/2 BR: 1035

Property Features

A.D.A. Compliant: Unknown
Smoke Detector: Yes

Electric

Electric Company: TEP

Parking

# Covered Parking: 10
Other: 16 uncovered
Fenced Parking: Yes
Free: Yes

Gas

None: Yes

Construction

Frame - Stucco: Yes

Sewer

Connected: Yes

Roof

Built-Up - Reflect: Yes

Water

Public: Yes

Fence

Block: Yes

Road Type

Paved: Yes

Fenced Storage

No: Yes

Lot Features

North/South Exposure: Yes
Subdivided: Yes

Main Cooling

Central Air: Yes
Zoned: Yes

Main Heating

Electric: Yes
Forced Air: Yes

Water Heater

Electric: Yes

Terms

Cash: Yes
Conventional: Yes

Submit With Offer

Income Property Addendum: Yes
Loan Pre-Qualifiaction: Yes
Proof of Funds: Yes

Security

None: Yes

Sold Info

Seller Concessions: 0

Landscape - Front

Low Care: Yes
Shrubs: Yes
Trees: Yes

Landscape - Rear

Decorative Gravel: Yes
Trees: Yes

Business Location

Free Standing Bldg: Yes

Freeway/Highway

2.1 - 5 Mile: Yes

Traffic Count

Unknown: Yes

Possession

Recording: Yes

Restrictions

CC&R: Yes

Property Disclosures

Seller Prop Disclosure: Yes

Special Conditions

None: Yes

Listing Office: Long Realty

Last Updated: July - 14 - 2025

Broker Attribution: (520)404-8352

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