835 N 6Th Avenue, Tucson, AZ 85705

$1,325,000
Property Type: Multi-Family Square Footage: 27,422 Lot Size (sq. ft.): 38 Status: Closed
Current Price: $1,325,000 List Date: 5/23/2011 Last Modified: 12/06/2024

Overview

Description

Very well maintained masonry apartment complex. Excellent drive-by exposure. Amenities include swimming pool, two laundry rooms, rec room and attractively landscaped central courtyard. All units have good sized kitchens, living rooms, bedrooms and bath. On-site manager's unit includes extra large living room, plus two private offices. Asking price equates to 6.6 times GSI. Rents have good upside potential. Please do not disturb tenants.

Listing Details MLS# 21114338

Address Information

Street #
835
Direction
N
Street Name
6Th
Suffix
Avenue
State/Province
AZ
Zip Code
85705
County
Pima
Country
USA

Location, Tax & Legal

Tax Code
117-03-0790
Area
Central
Subdivision
Tucson
Tax Year
2010
Taxes
14307.7
Assessments
0
Legal Description
Tucson lots 1, 4 and 5, Block 28
Township
14
Community
None
Range
13
Section
12
Municipality/Zoning
Tucson - HR3
Fire Protection
Included in Taxes

General Property Information

Lot Dimensions
198X184.8X198X184.8
Lot Acres
0.84
Lot Sqft
36590
Lot Size Source
Assessor
Combined SqFt
27422
Year Built
1963
List Price/SqFt
51.02
Lot Size Price/SqFt
38.23

Property Features

Construction: Concrete Block Main Cooling: Central Air Main Heating: Forced Air; Natural Gas Sewer: Connected Water: Public Security: Window Bars Terms: Cash; Conventional Property Disclosures: Lead Based Paint; Unknown

Contract Information

Distressed Info
None

Status Change Info

Off Market Date
2011-05-28
Pending Date
2011-07-15
Sold Date
2011-07-29
Sold Price/SqFt
48.32
Lot Sz Sold Prc/SqFt
36.21
How Sold
Cash Owner Carryback

More Information

Showing Information

Directions
Univeristy/6th Avenue, North to address

Unit Info

# of Units/Studios
12
Avg Mo Rent/Studios
375
# of Units/1 BR
19
Avg Mo Rent/1 BR
475
# of Units/2 BR
7
Avg Mo Rent/2 BR
575
Avg Mo Rent/3 BR
0
Avg Mo Rent/Other
0

Analysis

Cap Rate %
6.84
Gross Rent Multi
6.76
Vacancy Rate %
5
Exp/SqFt
4.05
Exp % of Gross
53.72

Income

Gross Scheduled Rent
210660
Vacancy Loss
10530
Other Income
6710
Adjusted Gross
206840
Total Expenses
111115
Net Opp Income
95725

Expenses

Admin Expenses
4960
Contract Services
4316
Gas/Electric
12479
Insurance
7500
Maintenance Supplies
24505
Management
10353
Resident Manager
16925
Taxes/Assessments
14307
Water/Sewer
13731
Other Expenses
2039
Figures Presented
Proforma
Capital Expenses
0

Interior Features

Interior Steps
No

Miscellaneous

Master Elec Meter
No
Master Gas Meter
No
Master Water Meter
Yes
Package Available
No

Construction

Concrete Block
Yes

Sewer

Connected
Yes

Water

Public
Yes

Main Cooling

Central Air
Yes

Main Heating

Forced Air
Yes
Natural Gas
Yes

Terms

Cash
Yes
Conventional
Yes

Security

Window Bars
Yes

Property Disclosures

Lead Based Paint
Yes
Unknown
Yes
Listing Office: Diversified Equity Corporation
IDX
Last Updated: December - 06 - 2024
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