69 W Simpson Street, Tucson, AZ 85701 (MLS# 21920385)

69 W Simpson Street, Tucson, AZ 85701

$1,200,000

Property Type: Multi-Family Square Footage: 8,525 Lot Size (sq. ft.): 16,675 Status: Closed

Current Price: $1,200,000 List Date: 8/02/2019 Last Modified: 12/12/2024

Overview

Description

Las Cuatras Esquinas has been in the same family for over 40 years. This is the first time that it is on the market. An 1886 map shows buildings at all four corners of South Convent and West Simpson — a grocery, a store, a dwelling and one vacant structure. Just two years later, three of the four corners housed stores or groceries. Horse and buggy is what delivered the groceries! Legend has it that gold is buried in the basement of the market. There have been many attempts to find it to no avail. This is now one of the rare, large properties of the Barrio. 10 units are used as rentals and 2 are used for storage. The development possibilities are interesting or would make a fabulous Family Compound!

Listing Details MLS# 21920385

Address Information

Street #: 69
Direction: W
Street Name: Simpson
Suffix: Street
State/Province: AZ
Zip Code: 85701
County: Pima
Country: USA

Location, Tax & Legal

Tax Code: 117-14-114A
Area: Central
Subdivision: Tucson

General Property Information

Dwelling Type: Quadruplex
Attached/Detached: Detached
Construction Status: Existing
Lot Dimensions: 110.22 X 159 X 100.32 X 109.72
Lot Acres: 0.38
Lot Sqft: 16675
Lot Size Source: Assessor
Combined SqFt: 8525
Year Built: 1888
School District: TUSD
Elementary School: Carrillo
Middle School: Drachman
High School: Tucson
Horse Property: No
Horse Facilities: No
List Price/SqFt: 150.15
Lot Size Price/SqFt: 76.76

Property Features

Construction: Mud Adobe; Wood Frame Style: Spanish Roof: Built-Up - Reflect; Metal Living Areas: Great Room Dining Areas: Eat-In Kitchen Dining Room: None Breakfast: Eat-In Kitchen Features: Gas Range; Refrigerator Bathroom Features: Shower Only/Primary Laundry: Outside Extra Room: None Interior Features: Ceiling Fan(s); Vaulted Ceiling(s) Floor Covering: Ceramic Tile; Concrete; Wood Window Covering: None Technology: Cable TV; High Speed Internet Main Cooling: Central Air; Evaporative Cooling Main Heating: Forced Air; Natural Gas Water Heater: Natural Gas Gas: Natural Sewer: Connected Water: Public Accessibility Option: None Security: None Pool: None Spa: None Fence: Wood Landscape - Front: None Landscape - Rear: Desert Plantings View: Residential; Mountain(s) Road Type: Paved Driveway: None Exterior Feature: Courtyard Lot Features: Corner Lot Neighborhood Features: Historic Terms: Cash; Owner Carry Submit With Offer: Proof of Funds Property Disclosures: Lead Based Paint; Seller Prop Disclosure Special Conditions: None

Contract Information

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

Status Change Info

Off Market Date: 2019-09-07
Pending Date: 2019-10-22
Sold Date: 2019-10-31
Sold Price/SqFt: 140.76
Lot Sz Sold Prc/SqFt: 71.96
How Sold: Cash Owner Carryback

More Information

Showing Information

Directions: South on Convent from Cushing Street to the address.

Unit 1 Information

Monthly Rent: 575
# Beds: Yes
# Full Baths: Yes
SqFt: 600
Occupancy: Yes
Stories: Single
Floor: 1st
Furnished: No
Parking: On Street

Unit 2 Information

Monthly Rent: 600
# Beds: Yes
# Full Baths: Yes
SqFt: 650
Occupancy: Yes
Stories: Single
Floor: 1st
Furnished: No
Parking: On Street

Analysis

Cap Rate %: 4.48
Gross Rent Multi: 18.1
Exp/SqFt: 1.47
Exp % of Gross: 18.85

Income

Gross Scheduled Rent: 66300
Adjusted Gross: 66300
Total Expenses: 12500
Net Opp Income: 53800

Expenses

Other Expenses: 12500
Figures Presented: Proforma

Electric

Electric Company: TEP

Utilities Paid

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

RV Parking

Other: none

Subdivision Restrict

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

Home Protection

Offered: No

Documents

Seller Disclosure ›

Listing Office: Beth Jones Realty, LLC

Last Updated: December - 12 - 2024

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