1039 N Alamo Avenue, Tucson, AZ 85711
$2,000,000
Property Type:
Multi-Family
Square Footage:
42,717
Lot Size (sq. ft.):
31
Status:
Closed
Current Price:
$2,000,000
List Date:
12/18/2014
Last Modified:
12/08/2024
Description
Monterey Garden Apartments a 53 unit apartment community Located within the Wilmot Desert Estates subdivision near Speedway and Wilmot. Reflects pride of ownership!!! Large floor plans 675 sqft 1 bdrm 1 ba, 845 sqft 2 bdrm 1 ba, and 950 sqft 2 bdrm 2 ba. The owner has recently completed approximately 270K in capital improvements to include exterior paint, landscaping, roof, resurfacing of the parking lot, remodeled leasing office, new power transformer installed by the power company. Majority of the units have been remodeled to reflect a modern look with stained concrete floors or premium laminated flooring, appliances, stained real wood cabinets, window coverings, bath vanities, counter tops, plumbing and electric fixtures, door hardware. This is a turn key investment. Package is attached
More Information MLS# 21434344
Address Information
Country: USA
Street #: 1039
Direction: N
Street Name: Alamo
Suffix: Avenue
State/Province: AZ
Zip Code: 85711
County: Pima
Location, Tax & Legal
Tax Year: 2015
Taxes: 18836.87
Assessments: 0
Legal Description: Wilmot desert estates S200' N400' L 5 Aka: Monterey Garden Apartments
Township: 14
Community: None
Range: 14
Section: 12
Municipality/Zoning: Tucson - C2
Fire Protection: Included in Taxes
Tax Code: 127-11-0700
Area: Central
Subdivision: Wilmot Desert Estates
Contract Information
Distressed Info: None
Current Price: $2,000,000
Sold Price: $2,000,000
Listing Date: 2014-12-17
Status: Closed
Status Change Info
Off Market Date: 2015-02-12
Sold Price/SqFt: 46.82
Lot Sz Sold Prc/SqFt: 32.33
How Sold: Conventional
Pending Date: 2015-04-03
Sold Date: 2015-04-30
Sold Price: $2,000,000
Showing Information
Directions: Speedway and Wilmot west to Alamo south to Monterey Garden Apartments
General Property Information
Lot Dimensions: 200'X309'
Lot Acres: 1.42
Lot Sqft: 61855
Lot Size Source: Assessor
List Price/SqFt: 45.65
Lot Size Price/SqFt: 31.53
Combined SqFt: 42717
Year Built: 1970
Unit Info
Avg Mo Rent/Studios: 0
# of Units/1 BR: 20
Avg Mo Rent/1 BR: 600
# of Units/2 BR: 24
Avg Mo Rent/2 BR: 700
Avg Mo Rent/3 BR: 0
# of Units/Other: 8
Avg Mo Rent/Other: 825
Income
Vacancy Loss: 58708
Other Income: 6983
Adjusted Gross: 355975
Total Expenses: 218567
Gross Scheduled Rent: 407700
Net Opp Income: 137408
Analysis
Gross Rent Multi: 5.62
Vacancy Rate %: 14.4
Exp/SqFt: 5.12
Exp % of Gross: 61.4
Cap Rate %: 6.87
Construction
Concrete Block: 1
Expenses
Admin Expenses: 4459
Capital Expenses: 0
Contract Services: 5350
Figures Presented: Actual
Gas/Electric: 74000
Insurance: 13000
Maintenance Supplies: 32957
Management: 24820
Resident Manager: 0
Taxes/Assessments: 18837
Water/Sewer: 45144
Other Expenses: 0
Sewer
Connected: 1
Water
Public: 1
Main Cooling
Zoned: 1
Terms
Cash: 1
Conventional: 1
Security
None: 1
Property Disclosures
Unknown: 1
Miscellaneous
Master Elec Meter: Yes
Master Gas Meter: Yes
Master Water Meter: Yes
Package Available: Yes
Remarks Misc
Geo Lat: 32.235185
Geo Lon: -110.862938
Property Features
Construction: Concrete Block
Main Cooling: Zoned
Sewer: Connected
Water: Public
Security: None
Terms: Cash; Conventional
Property Disclosures: Unknown
Documents
Marketing package ›Listing Office: Realty Executives Arizona Territory
Last Updated: December - 08 - 2024
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