1114 E Adams Street, Tucson, AZ 85719
$1,550,000
Property Type:
Commercial
Square Footage:
5,733
Lot Size (sq. ft.):
91
Status:
Closed
Current Price:
$1,550,000
List Date:
8/07/2019
Last Modified:
12/12/2024
Description
NEXT DOOR TO THE JUST COMPLETED U OF A NEW HONORS VILLAGE CAMPUS AND DORMS https://www.honors.arizona.edu/honors-village
AND JUST A COUPLE OF BLKS FROM THE U OF A MEDICAL SCHOOL/CAMPUS.AT U OF A. THIS 5 UNIT COMPLEX IS COMPOSED OF 3 BEDROOM 2 BATH UNITS. ALL UNITS RENTED FOR $1,975 PER MONTH.. PROPERTY HAS HAD A GUT REHAB WITH 5 NEW WATER METERS(SO NO UTILITY EXPENSES), CORRUGATED METAL SIDING, NEW ROOFS, KITCHENS, WASHERS/DRYERS, A/C UNITS WITH EXPOSED SPIRAL DUCTING, PRIVATE FENCED REAR YARDS, ETC. SEE PHOTOS. RENTS CUIRRENTLY ARE AT $1.72 PER SF AND AVERAGE RENTS IN THE AREA ARE $1.83 PER SFR OR $2,100 PER UNIT. SO GREAT UPSIDE
More Information MLS# 21920673
Address Information
Country: USA
Street #: 1114
Direction: E
Street Name: Adams
Suffix: Street
State/Province: AZ
Zip Code: 85719
County: Pima
Location, Tax & Legal
Tax Year: 2018
Taxes: 4020.97
Assessments: 0
Legal Description: UNIVERSITY HOME LOTS 7 & 8 & W30' LOT 6
BLK 14
Municipality/Zoning: Tucson - R3
Fire Protection: Included in Taxes
FEMA Flood Zone: No
Municipal Flood Zone: No
Tax Code: 123-15-164A
Area: Central
Contract Information
Method of Title: Fee (Simple)
Short Sale: No
Current Price: $1,550,000
Sold Price: $1,550,000
Listing Date: 2019-08-07
Status: Closed
Status Change Info
Off Market Date: 2019-10-25
Sold Price/SqFt: 270.36
Lot Sz Sold Prc/SqFt: 86.11
Financing: Cash
Pending Date: 2019-10-25
Sold Date: 2019-11-25
Sold Price: $1,550,000
Showing Information
Directions: MOUNTAIN ADAMS WEST TO ADDRESS.
General Property Information
Property Sub-Type: Apartment
Construction Status: Existing
# Units: 5
Lot Dimensions: 120X150
Lot Acres: 0.41
Total Parking: 15
Lot Sqft: 18000
Multi-Tenant: Yes
Lot Size Source: Assessor
Source of SqFt: Assessor
List Price/SqFt: 287.81
Lot Size Price/SqFt: 91.67
Year Built: 1966
Combined SqFt: 5733
Electric
Electric Company: TEP
Income
Vacancy Loss: 0
Other Income: 0
Adjusted Gross: 118500
Total Expenses: 17161
Gross Scheduled Rent: 118500
Net Opp Income: 101339
Gas
Natural: 1
Analysis
Gross Rent Multi: 13.08
Vacancy Rate %: 0
Exp/SqFt: 2.99
Exp % of Gross: 14.48
Cap Rate %: 6.54
Construction
Concrete Block: 1
Expenses
Admin Expenses: 0
Captial Expenses: 1000
Contract Services: 0
Figures Presented: Proforma
Gas/Electric: 0
Insurance: 1000
Maintenance Supplies: 2500
Management: 8640
Resident Manager: 0
Taxes/Assessments: 4021
Water/Sewer: 0
Other Expenses: 0
Sewer
Connected: 1
Apartment Unit Information
# of Units/3 BR: 5
Avg Mo Rent/3 BR: 1800
Roof
Built-Up: 1
Water
Public: 1
Fence
Block: 1
Space Information
Ceiling Height: 10ft
Road Type
Paved: 1
Fenced Storage
Yes: 1
Lot Features
Adjacent to Alley: 1
Main Cooling
Central Air: 1
Main Heating
Forced Air: 1
Natural Gas: 1
Water Heater
Natural Gas: 1
Terms
Cash: 1
Submit With Offer
Digital Signature Accepted: 1
Dual Agency Consent: 1
Earnest Check: 1
Income Property Addendum: 1
Lender Pre-Approval: 1
Loan Pre-Qualifiaction: 1
Proof of Funds: 1
Seller Title Company: BARBI STEWART- FNF
Sold Info
Seller Concessions: 0
Landscape - Front
Low Care: 1
Landscape - Rear
Low Care: 1
Parking
Free: 1
Special Conditions
None: 1
Remarks Misc
Geo Lat: 32.240304
Geo Lon: -110.954761
Property Features
Construction: Concrete Block
Roof: Built-Up
Fenced Storage: Yes
Main Cooling: Central Air
Main Heating: Forced Air; Natural Gas
Water Heater: Natural Gas
Gas: Natural
Sewer: Connected
Water: Public
Fence: Block
Landscape - Front: Low Care
Landscape - Rear: Low Care
Road Type: Paved
Parking: Free
Lot Features: Adjacent to Alley
Terms: Cash
Submit With Offer: Digital Signature Accepted; Dual Agency Consent; Earnest Check; Income Property Addendum; Lender Pre-Approval; Loan Pre-Qualifiaction; Proof of Funds
Special Conditions: None
Documents
PROFORMA ›Listing Office: Long Realty Company
Last Updated: December - 12 - 2024
The data relating to real estate listings on this website comes in part from the Internet Data Exchange (IDX) program of Multiple Listing Service of Southern Arizona. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listings provided by brokerages other than the listing brokerage here are identified with the MLSSAZ IDX Logo.
All Information Is Deemed Reliable But Is Not Guaranteed Accurate.
Listing information Copyright 2020 MLS of Southern Arizona. All Rights Reserved.