219 W Fort Lowell Road, Tucson, AZ 85705
$1,350,000
























Property Type:
Commercial
Square Footage:
18,148
Lot Size (sq. ft.):
33
Status:
Closed
Current Price:
$1,350,000
List Date:
6/07/2018
Last Modified:
12/10/2024
Description
Having been purchased out of foreclosure in 2012, Westview has undergone a tremendous amount of renovation over the past several years, including replacement of all plumbing, roof replacement, exterior trim painting, resurfacing of entire parking lot, and interior unit replacements, including all flooring.
Further opportunity of undergoing unit upgrades (kitchen and bath) In order to possibly garner a higher rent than current market rates for 1 BR units in the area ($550/mo.) The complex consists of 38 spacious 1 bedroom units.
More Information MLS# 21816042
Address Information
Country: USA
Street #: 219
Direction: W
Street Name: Fort Lowell
Suffix: Road
State/Province: AZ
Zip Code: 85705
County: Pima
Location, Tax & Legal
Tax Year: 2017
Taxes: 8518.07
Assessments: 77274
Legal Description: Coronado Heights Lot 2 and W2 Lot 6 Blk 7
Development Name: Coronado Heights
Municipality/Zoning: Tucson - C2
Fire Protection: Included in Taxes
FEMA Flood Zone: TBD
Municipal Flood Zone: TBD
Tax Code: 107-11-1200
Area: Central
Contract Information
Short Sale: No
Current Price: $1,350,000
Sold Price: $1,350,000
Listing Date: 2018-06-06
Status: Closed
Status Change Info
Off Market Date: 2018-08-03
Sold Price/SqFt: 74.39
Lot Sz Sold Prc/SqFt: 30.99
Financing: Other
Pending Date: 2018-10-22
Sold Date: 2018-10-29
Sold Price: $1,350,000
Showing Information
Directions: From Downtown North on Stone to Fort Lowell then West on Fort Lowell to Property which sits on the south side of the street.
General Property Information
Property Sub-Type: Apartment
Construction Status: Existing
# Units: 38
Lot Dimensions: 311.35 X 143.78
Lot Acres: 1
Total Parking: 43
Lot Sqft: 43560
Multi-Tenant: Yes
Lot Size Source: Assessor
Source of SqFt: Assessor
List Price/SqFt: 79.9
Lot Size Price/SqFt: 33.29
Year Built: 1985
Combined SqFt: 18148
Electric
Electric Company: TEP
Income
Vacancy Loss: 22572
Other Income: 18400
Adjusted Gross: 246628
Total Expenses: 68803
Gross Scheduled Rent: 250800
Net Opp Income: 177825
Gas
Natural: 1
Analysis
Gross Rent Multi: 5.47
Vacancy Rate %: 9
Exp/SqFt: 3.79
Exp % of Gross: 27.9
Cap Rate %: 13.17
Construction
Frame - Stucco: 1
Expenses
Admin Expenses: 380
Captial Expenses: 0
Contract Services: 0
Figures Presented: Proforma
Gas/Electric: 7000
Insurance: 5040
Maintenance Supplies: 15000
Management: 9865
Resident Manager: 0
Taxes/Assessments: 8518
Water/Sewer: 23000
Other Expenses: 0
Sewer
Connected: 1
Unit Information
Adult Housing: Independent Living Residences
Apartment: Low Rise
Apartment Unit Information
# of Units/1 BR: 38
Avg Mo Rent/1 BR: 475
Roof
Built-Up: 1
Water
Public: 1
Property Features
A.D.A. Compliant: Yes
Smoke Detector: 1
Fence
Block: 1
Road Type
Paved: 1
Lot Features
East/West Exposure: 1
Main Cooling
Central Air: 1
Main Heating
Heat Pump: 1
Water Heater
Electric: 1
Terms
Submit: 1
Submit With Offer
Proof of Funds: 1
Accessibility Option
Level: 1
Security
Security Lights: 1
Sold Info
Seller Concessions: 0
Landscape - Front
Low Care: 1
Landscape - Rear
Low Care: 1
Parking
Paved Parking: 1
Business Location
Multiple Locations: 1
Freeway/Highway
Access: 1
Traffic Count
Unknown: 1
Remarks Misc
Geo Lat: 32.26419
Geo Lon: -110.975018
Property Features
Property Features: Smoke Detector
Construction: Frame - Stucco
Roof: Built-Up
Main Cooling: Central Air
Main Heating: Heat Pump
Water Heater: Electric
Gas: Natural
Sewer: Connected
Water: Public
Accessibility Option: Level
Security: Security Lights
Fence: Block
Landscape - Front: Low Care
Landscape - Rear: Low Care
Road Type: Paved
Parking: Paved Parking
Lot Features: East/West Exposure
Business Location: Multiple Locations
Traffic Count: Unknown
Terms: Submit
Submit With Offer: Proof of Funds
Listing Office: Equilibrium Realty
Last Updated: December - 10 - 2024

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