1240 N 7th, Tucson, AZ 85705
$2,750,000
Property Type:
Multi-Family
Square Footage:
28,170
Lot Size (sq. ft.):
36
Status:
Closed
Current Price:
$2,750,000
List Date:
3/20/2006
Last Modified:
10/26/2024
Description
Very well maintained apartment located between UofA & Pima College near downtown. Occupancy above 95% for 2005 and 100% today, individually metered except water & hot water.
More Information MLS# 2611287
Address Information
Country: USA
Street #: 1240
Direction: N
Street Name: 7th
State/Province: AZ
Zip Code: 85705
County: Pima
Location, Tax & Legal
Tax Year: 2005
Taxes: 16046
Assessments: 0
Legal Description: Highland Oark Amended All of Blk 19
Township: 14
Community: None
Range: 13
Section: 1
Municipality/Zoning: Tucson - C1
Fire Protection: None
Tax Code: 115-05-0890
Area: Central
Subdivision: Highland Park Addition
Status Change Info
Off Market Date: 2006-06-01
Sold Price/SqFt: 97.62
Lot Sz Sold Prc/SqFt: 35.07
How Sold: Conventional
Pending Date: 2006-03-31
Sold Date: 2006-06-01
Sold Price: $2,750,000
Showing Information
Directions: Speedway and Stone east to 7th North to address
General Property Information
Lot Dimensions: 425 x 185
Lot Acres: 1.8
Lot Sqft: 78408
Lot Size Source: Assessor
List Price/SqFt: 102.95
Lot Size Price/SqFt: 36.98
Combined SqFt: 28170
Year Built: 1955
Unit Info
# of Units/Studios: 65
Avg Mo Rent/Studios: 370
# of Units/1 BR: 4
Avg Mo Rent/1 BR: 450
# of Units/2 BR: 3
Avg Mo Rent/2 BR: 540
Income
Vacancy Loss: 16482
Other Income: 24689
Adjusted Gross: 337847
Total Expenses: 146455
Gross Scheduled Rent: 329640
Net Opp Income: 191392
Analysis
Gross Rent Multi: 8.58
Vacancy Rate %: 5
Exp/SqFt: 5.19
Exp % of Gross: 43.34
Cap Rate %: 6.59
Construction
Brick: 1
Expenses
Gas/Electric: 8922
Insurance: 1617
Maintenance Supplies: 72109
Management: 16892
Resident Manager: 16892
Taxes/Assessments: 16046
Water/Sewer: 13977
Sewer
Connected: 1
Water
Public: 1
Main Cooling
Wall Unit(s): 1
Main Heating
Electric: 1
Zoned: 1
Interior Features
Interior Steps: No
Terms
Conventional: 1
Security
None: 1
Sold Info
Financing: 1
Property Disclosures
Unknown: 1
Miscellaneous
Master Elec Meter: No
Master Gas Meter: Yes
Master Water Meter: Yes
Package Available: Yes
Contract Information
Current Price: $2,750,000
Sold Price: $2,750,000
Listing Date: 2006-03-20
Status: Closed
Property Features
Construction: Brick
Main Cooling: Wall Unit(s)
Main Heating: Electric; Zoned
Sewer: Connected
Water: Public
Security: None
Terms: Conventional
Property Disclosures: Unknown
Sold Info: Financing
Documents
Lead Paint Discl ›Listing Office: Long Realty Company
Last Updated: October - 26 - 2024
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