1423 N Venice Avenue, Tucson, AZ 85712
$1,410,000
Property Type:
Commercial
Square Footage:
8,658
Lot Size (sq. ft.):
40
Status:
Closed
Current Price:
$1,410,000
List Date:
10/25/2024
Last Modified:
12/26/2024
Description
Midtown Garden Style Venice Arms Apartment Complex with 6% cap rate. Exterior brick construction, (8) one-bedroom units and (4) two-bedroom units, plus on-site laundry facilities. Each unit has own mini-splits, tile floors, small patio area and great central location. Each tenant gets one carport space. Storage room could be converted to a studio unit or repurposed as rentable storage space.10 minutes to the University of Arizona
More Information MLS# 22417043
Address Information
Country: USA
Street #: 1423
Direction: N
Street Name: Venice
Suffix: Avenue
State/Province: AZ
Zip Code: 85712
County: Pima
Location, Tax & Legal
Tax Year: 2023
Taxes: 6271.98
Assessments: 0
Legal Description: Speedway N150' Lots 1 & Lot 2 S20' N190' W2 Lot 2 Blk 10
Municipality/Zoning: Tucson - R2
Fire Protection: Included in Taxes
FEMA Flood Zone: No
Municipal Flood Zone: No
Tax Code: 122-12-184A
Area: Central
Contract Information
Short Sale: No
Current Price: $1,410,000
Sold Price: $1,410,000
Listing Date: 2024-07-10
Status: Closed
Status Change Info
Off Market Date: 2024-10-28
Sold Price/SqFt: 162.86
Lot Sz Sold Prc/SqFt: 39.47
Financing: Cash Owner Carryback
Pending Date: 2024-11-20
Sold Date: 2024-12-05
Sold Price: $1,410,000
Showing Information
Directions: Speedway / Swan (West) Venice ( North) to Address
DO NOT DISTURB ANY TENANTS
General Property Information
Property Sub-Type: Apartment
Construction Status: Existing
# Units: 12
Lot Dimensions: irr
Lot Acres: 0.82
Lot Sqft: 35719
Multi-Tenant: Yes
Lot Size Source: Assessor
Source of SqFt: Assessor
List Price/SqFt: 167.48
Lot Size Price/SqFt: 40.59
Year Built: 1963
Combined SqFt: 8658
Electric
Electric Company: TEP
Income
Vacancy Loss: 3600
Gross Scheduled Rent: 145200
Gas
Natural: 1
Analysis
Vacancy Rate %: 2.48
Cap Rate %: 6
Construction
Brick: 1
Expenses
Contract Services: 1200
Gas/Electric: 545
Insurance: 4523
Management: 9600
Taxes/Assessments: 6272
Water/Sewer: 7200
Other Expenses: 14400
Sewer
Connected: 1
Unit Information
Apartment: Low Rise
Apartment Unit Information
# of Units/1 BR: 8
Avg Mo Rent/1 BR: 950
# of Units/2 BR: 4
Avg Mo Rent/2 BR: 1100
Roof
Built-Up: 1
Water
Public: 1
Property Features
Smoke Detector: 1
Fence
Chain Link: 1
Slump Block: 1
Wood: 1
Road Type
Gravel: 1
Fenced Storage
No: 1
Lot Features
North/South Exposure: 1
Main Cooling
Heat Pump: 1
Other: Mini Split
Main Heating
Forced Air: 1
Natural Gas: 1
Water Heater
Natural Gas: 1
Terms
Cash: 1
Conventional: 1
Submit With Offer
Proof of Funds: 1
Security
Alarm Installed: 1
Sold Info
Est. Closing Date: 2024-12-05
Seller Concessions: 0
Seller Paid Repairs: 0
Landscape - Front
Low Care: 1
Landscape - Rear
Low Care: 1
Parking
# Covered Parking: 12
Freeway/Highway
2.1 - 5 Mile: 1
Traffic Count
Unknown: 1
Possession
Negotiable: 1
Restrictions
CC&R: 1
Deed: 1
Property Disclosures
Military Airport Vct: 1
Unknown: 1
Special Conditions
None: 1
Remarks Misc
Geo Lat: 32.240519
Geo Lon: -110.895286
Property Features
Property Features: Smoke Detector
Construction: Brick
Roof: Built-Up
Fenced Storage: No
Main Cooling: Heat Pump
Main Heating: Forced Air; Natural Gas
Water Heater: Natural Gas
Gas: Natural
Sewer: Connected
Water: Public
Security: Alarm Installed
Fence: Chain Link; Slump Block; Wood
Landscape - Front: Low Care
Landscape - Rear: Low Care
Road Type: Gravel
Lot Features: North/South Exposure
Traffic Count: Unknown
Terms: Cash; Conventional
Possession: Negotiable
Submit With Offer: Proof of Funds
Property Disclosures: Military Airport Vct; Unknown
Special Conditions: None
Restrictions: CC&R; Deed
Documents
Lead Paint Discl ›Listing Office: Tierra Antigua Realty
Last Updated: December - 26 - 2024
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