1240 N 7th Avenue, 72, Tucson, AZ 85705
$1,700,000
Property Type:
Multi-Family
Square Footage:
30,600
Status:
Closed
Current Price:
$1,700,000
List Date:
7/28/1999
Last Modified:
10/26/2024
Description
These Units Have Been Completely Rehabbed.Tenants Pay Own Utilities Except Water.This Would Make A Great Motel Because 66 Studios Have All New Kitch Ens.THE ACTUAL income for 2001 was 273,389.00 This property is Zoned C-1 and is ok for motel.call for appt to see .Actual cap rate is 7.55
More Information MLS# 9913695
Address Information
Apt/Unit #: 72
Country: USA
Street #: 1240
Direction: N
Street Name: 7th
Suffix: Avenue
State/Province: AZ
Zip Code: 85705
County: Pima
Location, Tax & Legal
Tax Year: 2000
Taxes: 14466
Assessments: 0
Legal Description: Lots 1,2,3,4,5,6,7, Block 19 Highland Park Amended
Township: 14
Community: None
Range: 13
Section: 1
Municipality/Zoning: Tucson - C1
Fire Protection: Included in Taxes
Tax Code: 115-08-0890
Area: Central
Subdivision: Highland Park Add Amd
Status Change Info
Off Market Date: 2002-11-20
Sold Price/SqFt: 55.55
How Sold: Conventional
Pending Date: 2002-06-20
Sold Date: 2002-11-20
Sold Price: $1,700,000
Showing Information
Directions: E On Speedway From Stone 1 Block Then North 1 Block To Property Blue Agave Apts
General Property Information
Lot Dimensions: 425X185
List Price/SqFt: 58.82
Combined SqFt: 30600
Year Built: 1955
Unit Info
# of Units/Studios: 66
Avg Mo Rent/Studios: 350
# of Units/1 BR: 4
Avg Mo Rent/1 BR: 410
# of Units/2 BR: 1
Avg Mo Rent/2 BR: 500
# of Units/3 BR: 1
Avg Mo Rent/3 BR: 650
Income
Vacancy Loss: 30000
Other Income: 4000
Adjusted Gross: 274000
Total Expenses: 137368
Gross Scheduled Rent: 300000
Net Opp Income: 136632
Analysis
Gross Rent Multi: 6.56
Vacancy Rate %: 10
Exp/SqFt: 4.48
Exp % of Gross: 50.13
Cap Rate %: 7.59
Construction
Slump Block: 1
Expenses
Admin Expenses: 8211
Capital Expenses: 8578
Contract Services: 12254
Gas/Electric: 11145
Insurance: 3095
Maintenance Supplies: 33729
Management: 8200
Resident Manager: 23445
Taxes/Assessments: 14466
Water/Sewer: 7245
Other Expenses: 7000
Sewer
Connected: 1
Water
Public: 1
Main Cooling
Heat Pump: 1
Main Heating
Heat Pump: 1
Interior Features
Interior Steps: No
Terms
Cash: 1
Conventional: 1
Security
None: 1
Sold Info
Down Payment: 350000
Financing: 1
Property Disclosures
Unknown: 1
Miscellaneous
Master Elec Meter: No
Master Gas Meter: Yes
Master Water Meter: Yes
Package Available: No
Contract Information
Current Price: $1,700,000
Sold Price: $1,700,000
Listing Date: 1999-07-26
Status: Closed
Remarks Misc
Geo Lat: 32.237859
Geo Lon: -110.969852
Property Features
Construction: Slump Block
Main Cooling: Heat Pump
Main Heating: Heat Pump
Sewer: Connected
Water: Public
Security: None
Terms: Cash; Conventional
Property Disclosures: Unknown
Sold Info: Financing
Listing Office: Bright Realty & Development Lt
Last Updated: October - 26 - 2024
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