4001 E Monte Vista Drive, Tucson, AZ 85712 (MLS# 21700516)

4001 E Monte Vista Drive, Tucson, AZ 85712

$1,175,000

Property Type: Multi-Family Square Footage: 14,080 Lot Size (sq. ft.): 47 Status: Closed

Current Price: $1,175,000 List Date: 9/15/2017 Last Modified: 12/09/2024

Overview

Description

This property is now open for bid with a bid deadline of October 16th. The list price is no way reflective of what the seller may be willing to accept and will consider all offers. 32 unit multi-family ripe with potential. Convert 16 units into full one bedroom units, lease up to stabilization at market rates and purchase at an expected 11% cap rate based on resulting income and expenses central strong rental market location.

Listing Details MLS# 21700516

Address Information

Street #: 4001
Direction: E
Street Name: Monte Vista
Suffix: Drive
State/Province: AZ
Zip Code: 85712
County: Pima
Country: USA

Location, Tax & Legal

Tax Code: 110-06-080A
Area: Central
Subdivision: N/A
Comparable Only Listing: No
Tax Year: 2016
Taxes: 10308.95
Assessments: 11006080
Taxes For: Dwelling & Land
Legal Description: 110-06-080A
Township: 13
Community: None
Range: 14
Section: 34
Municipality/Zoning: Pima County - R3
Fire Protection: Included in Taxes
FEMA Flood Zone: No
Municipal Flood Zone: No

General Property Information

Attached/Detached: Attached
Construction Status: Existing
Lot Dimensions: rectangle
Lot Acres: 0.96
Lot Sqft: 42000
Lot Size Source: Assessor
Combined SqFt: 14080
Year Built: 1978
School District: Other
Elementary School: Other
Middle School: Other
High School: Other
Horse Property: No
Horse Facilities: No
List Price/SqFt: 142.05
Lot Size Price/SqFt: 47.62
Total Parking: 0

Property Features

Construction: Frame; Frame - Stucco Style: Contemporary Roof: Shingle Living Areas: Living Room Dining Areas: Eat-In Kitchen Dining Room: None Breakfast: None Kitchen Features: Electric Range; Prep Sink; Refrigerator Bathroom Features: Shower & Tub/Hall Laundry: Facility Extra Room: None Interior Features: Ceiling Fan(s); Smoke Detector; Walk-In Closet(s) Floor Covering: Carpet; Vinyl Window Covering: Some Technology: High Speed Internet Main Cooling: Central Air Main Heating: Electric; Forced Air Water Heater: Electric Gas: Natural Sewer: Connected Water: Public Accessibility Option: Wide Doorways Security: None Pool: Community Spa: None Fence: Block; Chain Link; Wrought Iron Landscape - Front: Grass Landscape - Rear: Grass; Shrubs; Sprinkler/Drip; Trees View: Residential Road Type: Paved RV Parking: Space Available Exterior Feature: Built-in Barbecue; Courtyard Lot Features: Adjacent to Alley Neighborhood Features: Paved Street; Pool Terms: Cash; Conventional; Exchange; Submit Submit With Offer: Proof of Funds Property Disclosures: Public Report; Unknown Special Conditions: Public Report

Contract Information

Method of Title: Fee (Simple)
Distressed Info: None

Status Change Info

Off Market Date: 2017-10-10
Pending Date: 2017-11-08
Sold Date: 2017-11-09
Sold Price/SqFt: 83.45
Lot Sz Sold Prc/SqFt: 27.98
How Sold: Cash

More Information

Showing Information

Directions: from downtown east on Broadway, north (left) on Alvernon then east (right) on Monte Vista to address (property on left)

Unit Info

# of Units/1 BR: 32
Avg Mo Rent/1 BR: 450
Avg Mo Rent/Studios: 0
Avg Mo Rent/2 BR: 0
Avg Mo Rent/3 BR: 0
Avg Mo Rent/Other: 0

Unit 1 Information

Monthly Rent: 395
# Full Baths: Yes
SqFt: 425
Occupancy: Yes
Stories: Two
Floor: 1st
Furnished: No
Parking: On Property

Analysis

Cap Rate %: 10.79
Gross Rent Multi: 7.47
Vacancy Rate %: 5
Exp/SqFt: 2.16
Exp % of Gross: 19.31

Income

Gross Scheduled Rent: 162240
Vacancy Loss: 8112
Other Income: 3063
Adjusted Gross: 157191
Total Expenses: 30354
Net Opp Income: 126837

Expenses

Admin Expenses: 2373
Gas/Electric: 1800
Insurance: 4813
Maintenance Supplies: 500
Taxes/Assessments: 9964
Water/Sewer: 10904
Figures Presented: Proforma
Capital Expenses: 0
Contract Services: 0
Management: 0
Resident Manager: 0
Other Expenses: 0

Electric

Electric Company: TEP

Utilities Paid

Cable TV: Tenant
Electric: Owner
Gas: Owner
Insurance: Owner
Sewer: Owner
Taxes: Owner
Trash: Owner
Water: Owner

Driveway

Paved: Asphalt

Subdivision Restrict

Age Restrictions: No
Deed Restrictions: No
CC&Rs: No

Home Protection

Offered: No

Gas

Natural: Yes

Construction

Frame: Yes
Frame - Stucco: Yes

Style

Contemporary: Yes

Sewer

Connected: Yes

Roof

Shingle: Yes

Water

Public: Yes

Living Areas

Living Room: Yes

Dining Areas

Eat-In Kitchen: Yes

Fence

Block: Yes
Chain Link: Yes
Wrought Iron: Yes

Dining Room

None: Yes

View

Residential: Yes

Breakfast

None: Yes

Road Type

Paved: Yes

Kitchen Features

Electric Range: Yes
Prep Sink: Yes
Refrigerator: Yes

Road Maintenance

City: Yes

Lot Features

Adjacent to Alley: Yes

Main Cooling

Central Air: Yes

Laundry

Facility: Yes

Neighborhood Features

Paved Street: Yes
Pool: Yes

Main Heating

Electric: Yes
Forced Air: Yes

Extra Room

None: Yes

Water Heater

Electric: Yes

Association & Fees

HOA: No

Interior Features

Ceiling Fan(s): Yes
Smoke Detector: Yes
Walk-In Closet(s): Yes

Bathroom Features

Shower & Tub/Hall: Yes

Terms

Cash: Yes
Conventional: Yes
Exchange: Yes
Submit: Yes

Floor Covering

Carpet: Yes
Vinyl: Yes

Submit With Offer

Proof of Funds: Yes

Window Covering

Some: Yes

Accessibility Option

Wide Doorways: Yes

Technology

High Speed Internet: Yes

Security

None: Yes

Sold Info

Seller Concessions: 0

Landscape - Front

Grass: Yes

Landscape - Rear

Grass: Yes
Shrubs: Yes
Sprinkler/Drip: Yes
Trees: Yes

Patio/Deck

Deck: Yes
Ramada: Yes

Pool

Community: Yes

Property Disclosures

Public Report: Yes
Unknown: Yes

Spa

None: Yes

Special Conditions

Public Report: Yes

RV Parking

Space Available: Yes

Exterior Feature

Built-in Barbecue: Yes
Courtyard: Yes

Documents

Rent Roll ›

12 month Trailing ›

Trailing 12,3 ›

Listing Office: Equilibrium Realty

Last Updated: December - 09 - 2024

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