1525 N Euclid Avenue, Tucson, AZ 85719
$4,250,000
Property Type:
Multi-Family
Square Footage:
21,148
Lot Size (sq. ft.):
65
Status:
Closed
Current Price:
$4,250,000
List Date:
3/13/2017
Last Modified:
12/09/2024
Description
AMAZING OPPORTUNITY to own a Gorgeously remodeled (2016) 58 unit apartment complex less than 5 blocks to the University of Arizona. Fully leased through July 2018 (Yes, 2018!!). Each unit had new hardwood cabinets, granite counter tops, porcelain tile, paint, dishwasher, Microwave & electrical fixtures installed during 2016. New Clubhouse with leasing office and laundry room built in 2016. New block walls and metal gates installed 2016. Swimming pool, turf, and landscaping updated 2016. Complex built with concrete block exterior walls and concrete floors between units (except in bathrooms (plumbing). New Master Lease starting 8/1/2017. Numbers presented reflect new master lease. One of members of the Seller is AZ licensed broker. Please do not go on the property or disturb tenants.
More Information MLS# 21707065
Address Information
Country: USA
Street #: 1525
Direction: N
Street Name: Euclid
Suffix: Avenue
State/Province: AZ
Zip Code: 85719
County: Pima
Location, Tax & Legal
Comparable Only Listing: No
Tax Year: 2016
Taxes: 25386
Assessments: 0
Legal Description: UNIVERSITY HOME BLK 9 EXC W116.7' S157.5'& SPNDRL NW COR & EXC W182.41' E282.41' S170' & EXC E100' S115' & SPNDRL NE COR
Township: 14
Community: None
Range: 14
Section: 6
Municipality/Zoning: Tucson - O3
Fire Protection: Included in Taxes
Tax Code: 123-15-101A
Area: Central
Subdivision: University Home Addition
Contract Information
Distressed Info: None
Current Price: $4,250,000
Sold Price: $4,250,000
Listing Date: 2017-03-13
Status: Closed
Status Change Info
Off Market Date: 2017-04-17
Sold Price/SqFt: 200.96
Lot Sz Sold Prc/SqFt: 65.92
How Sold: Conventional
Pending Date: 2017-06-23
Sold Date: 2017-08-09
Sold Price: $4,250,000
Showing Information
Directions: From Speedway and Euclid. North to Address. Located on SW Corner of Euclid and Lee.
General Property Information
Lot Dimensions: Irregular
Lot Acres: 1.48
Lot Sqft: 64469
Lot Size Source: Assessor
List Price/SqFt: 200.96
Lot Size Price/SqFt: 65.92
Combined SqFt: 21148
Year Built: 1978
Unit Info
# of Units/Studios: 56
Avg Mo Rent/Studios: 750
# of Units/1 BR: 2
Avg Mo Rent/1 BR: 750
Avg Mo Rent/2 BR: 0
Avg Mo Rent/3 BR: 0
# of Units/Other: 1
Avg Mo Rent/Other: 112.5
Income
Vacancy Loss: 0
Other Income: 1400
Adjusted Gross: 523400
Total Expenses: 125370
Gross Scheduled Rent: 522000
Net Opp Income: 398030
Analysis
Gross Rent Multi: 8.12
Vacancy Rate %: 0
Exp/SqFt: 5.93
Exp % of Gross: 23.95
Cap Rate %: 9.37
Construction
Concrete Block: 1
Expenses
Admin Expenses: 750
Capital Expenses: 5000
Contract Services: 8400
Figures Presented: Proforma
Gas/Electric: 0
Insurance: 7675
Maintenance Supplies: 24000
Management: 52200
Resident Manager: 0
Taxes/Assessments: 25385
Water/Sewer: 0
Other Expenses: 1960
Sewer
Connected: 1
Water
Public: 1
Main Cooling
Central Air: 1
Neighborhood Features
Gated Community: 1
Main Heating
Electric: 1
Forced Air: 1
Interior Features
Interior Steps: Yes
Terms
Cash: 1
Conventional: 1
Sold Info
Seller Concessions: 0
Property Disclosures
Unknown: 1
Miscellaneous
Master Water Meter: Yes
Package Available: Yes
Remarks Misc
Geo Lat: 32.241267
Geo Lon: -110.960245
Property Features
Construction: Concrete Block
Main Cooling: Central Air
Main Heating: Electric; Forced Air
Sewer: Connected
Water: Public
Neighborhood Features: Gated Community
Terms: Cash; Conventional
Property Disclosures: Unknown
Listing Office: Tucson Integrity Realty, LLC
Last Updated: December - 09 - 2024
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