315 - 335 N Park Avenue, Tucson, AZ 85719

$1,300,000
Property Type: Multi-Family Square Footage: 6,087 Lot Size (sq. ft.): 42,688 Status: Closed
Current Price: $1,300,000 List Date: 3/28/2017 Last Modified: 12/09/2024

Overview

Description

RARE FIND.....Special opportunity for redevelopment of R2 zoned property 1 block from the University of Arizona. Assemblage of 8 parcels, almost 1 acre, with some existing rental units. UofA's growth plan already includes 6th Street, so someday this property could be less than one block from campus. One of the Members of the Seller is licensed to sell real estate in Arizona.

Listing Details MLS# 21708476

Address Information

Street #
315 - 335
Direction
N
Street Name
Park
Suffix
Avenue
State/Province
AZ
Zip Code
85719
County
Pima
Country
USA

Location, Tax & Legal

Tax Code
Multiple#
Area
Central
Subdivision
Buells

General Property Information

Attached/Detached
Detached
Construction Status
Existing
Lot Dimensions
Irregular
Lot Acres
0.98
Lot Sqft
42688
Lot Size Source
Assessor
Combined SqFt
6087
Year Built
1925
School District
TUSD
Elementary School
Blenman
Middle School
Doolen
High School
Tucson
Horse Property
No
Horse Facilities
No
List Price/SqFt
246.43
Lot Size Price/SqFt
35.14

Property Features

Construction: Other Style: Ranch Roof: Rolled Living Areas: Family Room Dining Areas: Breakfast Bar Dining Room: None Breakfast: Area Kitchen Features: Breakfast Nook; Dishwasher Bathroom Features: Shower Only/Primary; Shower Only/Hall Laundry: None Extra Room: Arizona Room Interior Features: Storage Floor Covering: Carpet; Vinyl Window Covering: Stay Technology: Cable TV Main Cooling: Central Air; Wall Unit(s) Main Heating: Baseboard; Forced Air; Natural Gas Water Heater: Natural Gas Gas: Natural Sewer: Connected Water: Public Accessibility Option: Door Levers Security: Window Bars Pool: None Spa: None Fence: Chain Link Landscape - Front: Low Care Landscape - Rear: Low Care View: Sunset Road Type: Dirt; Gravel Driveway: None Exterior Feature: Shed(s) Lot Features: Adjacent to Alley Neighborhood Features: None Assoc Amenities: None Terms: Cash; Conventional; Exchange Property Disclosures: Unknown Special Conditions: None

Contract Information

Method of Title
Fee (Simple)
Distressed Info
None

Status Change Info

Off Market Date
2017-08-29
Pending Date
2017-09-16
Sold Date
2017-09-29
Sold Price/SqFt
213.57
Lot Sz Sold Prc/SqFt
30.45
How Sold
Conventional

More Information

Showing Information

Directions
From Euclid and 6th. East to Park Ave. South to Addresses on west side of Park Ave.

Unit Info

# of Units/Studios
2
Avg Mo Rent/Studios
312
# of Units/1 BR
4
Avg Mo Rent/1 BR
784

Unit 1 Information

Occupancy
Yes
Stories
Single
Floor
1st
Furnished
No
Parking
On Property

Analysis

Cap Rate %
1.79
Gross Rent Multi
28.81
Exp/SqFt
3.59
Exp % of Gross
48.41

Income

Gross Scheduled Rent
45120
Adjusted Gross
45120
Total Expenses
21842
Net Opp Income
23278

Expenses

Admin Expenses
500
Capital Expenses
1500
Contract Services
1250
Insurance
2750
Maintenance Supplies
1500
Management
4512
Taxes/Assessments
9530
Other Expenses
300
Figures Presented
Proforma

Electric

Electric Company
TEP

Utilities Paid

Cable TV
Tenant
Electric
Tenant
Gas
Tenant
Insurance
Owner
Landscaping
Owner
Pool/Spa Maintenance
Tenant
Sewer
Tenant
Taxes
Owner
Trash
Tenant
Water
Owner

RV Parking

Other
NONE

Subdivision Restrict

Age Restrictions
No
Deed Restrictions
Yes
CC&Rs
Yes

Submit With Offer

Digital Signatures
Yes

Home Protection

Offered
No

Miscellaneous

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