2620 N 14Th Avenue, Tucson, AZ 85705

$1,650,000
Property Type: Commercial Square Footage: 6,979 Lot Size (sq. ft.): 45,978 Status: Closed
Current Price: $1,650,000 List Date: 6/06/2023 Last Modified: 12/22/2024

Overview

Description

This address is sold together with 2630 North 14th Avenue (107-09-015A) for a total price of $2,200,000 Value add has excellent opportunity. • Turn-Key opportunity • Recent capital improvements • In-place management • On-site laundry facility Capital improvements made over the past year have dropped NOI significantly. Gross monthly potential is just under $20k at full occupancy

Listing Details MLS# 22312213

Address Information

Street #
2620
Direction
N
Street Name
14Th
Suffix
Avenue
State/Province
AZ
Zip Code
85705
County
Pima
Country
USA

Location, Tax & Legal

Tax Code
107-09-013A
Area
Central

General Property Information

Property Sub-Type
Apartment
Construction Status
Existing
# Units
19
Total Parking
25
Multi-Tenant
Yes
Year Built
1948
Lot Dimensions
105x286
Lot Acres
1.06
Lot Sqft
45978
Lot Size Source
Assessor
Combined SqFt
6979
Source of SqFt
Assessor
List Price/SqFt
271.53
Lot Size Price/SqFt
41.22

Property Features

Property Features: Smoke Detector Construction: Brick Roof: Rolled Fenced Storage: No Main Cooling: Ceiling Fan(s); Evaporative Cooling; Wall Unit(s) Main Heating: Baseboard; Electric; Natural Gas Water Heater: Electric; Natural Gas Gas: Natural Sewer: Connected Water: Public Accessibility Option: None Security: None Fence: Block; Shared Fence Landscape - Front: Low Care; Shrubs; Trees Landscape - Rear: Low Care; Shrubs; Trees Road Type: Gravel Parking: Common Lot Features: Adjacent to Alley; North/South Exposure Business Location: Free Standing Bldg Traffic Count: Unknown Terms: Cash; Conventional; Exchange; Owner Carry; Submit Possession: Recording Submit With Offer: Loan Status; Proof of Funds Property Disclosures: Lead Based Paint; Seller Prop Disclosure Special Conditions: None

Contract Information

Short Sale
No

Status Change Info

Off Market Date
2023-06-06
Pending Date
2023-07-13
Sold Date
2023-07-13
Sold Price/SqFt
236.42
Lot Sz Sold Prc/SqFt
35.89
Financing
Cash Owner Carryback

More Information

Showing Information

Directions
From Oracle and Grant, West to 14th Avenue, North to property.

Income

Gross Scheduled Rent
16900
Vacancy Loss
1800
Other Income
2047
Adjusted Gross
17147

Analysis

Cap Rate %
6.5
Gross Rent Multi
96.23
Vacancy Rate %
10.65

Expenses

Captial Expenses
16524
Gas/Electric
6149
Maintenance Supplies
20992
Management
12085
Taxes/Assessments
5259
Water/Sewer
13719

Unit Information

Apartment
Low Rise

Apartment Unit Information

# of Units/1 BR
11
Avg Mo Rent/1 BR
700
# of Units/2 BR
4
Avg Mo Rent/2 BR
850
# of Units/Other
4
Avg Mo Rent/Other
1100

Space Information

Ceiling Height
8ft

Electric

Electric Company
TEP
IDX
Listing Office: Pinnacle Realty and Investment Advisors LLC
Last Updated: December - 22 - 2024
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