3052 N Alvernon Way, Tucson, AZ 85712
$1,550,000
Property Type:
Commercial
Square Footage:
8,800
Lot Size (sq. ft.):
77
Status:
Closed
Current Price:
$1,550,000
List Date:
6/26/2023
Last Modified:
12/21/2024
Description
20 interior unit inspections occurred on 7.1.2023 Confirmed by contractor that 18 studios can be converted to 1 bedrooms and 2 units can be converted to 2 bedrooms. Approval needed by City of Tucson Section 8. Projected NOI is based on one bedroom renting for 950/month and 2 bedroom renting for 1100/month
More Information MLS# 22305621
Address Information
Country: USA
Street #: 3052
Direction: N
Street Name: Alvernon
Suffix: Way
State/Province: AZ
Zip Code: 85712
County: Pima
Location, Tax & Legal
Tax Year: 2022
Taxes: 8257.86
Assessments: 0
Taxes For: Building & Land
Legal Description: S106.175' W208.5' N868.5' NW4 NW4 & THAT PTN
S106.375' N868.5' SEC 33 LYG E ALVERNON WAY
59 AC SEC 34-13-14
Municipality/Zoning: Tucson - R3
Fire Protection: Included in Taxes
Tax Code: 110-06-027A
Area: Central
Contract Information
Short Sale: No
Current Price: $1,550,000
Sold Price: $1,550,000
Listing Date: 2023-03-13
Status: Closed
Status Change Info
Off Market Date: 2023-07-14
Sold Price/SqFt: 176.14
Lot Sz Sold Prc/SqFt: 61.44
Financing: Cash Owner Carryback
Pending Date: 2023-10-20
Sold Date: 2023-10-20
Sold Price: $1,550,000
Showing Information
Directions: Alvernon & Grant N to 3052
General Property Information
Property Sub-Type: Apartment
Construction Status: Existing
# Units: 20
Lot Dimensions: 106 x 238
Lot Acres: 0.2
Total Parking: 20
Lot Sqft: 25228
Multi-Tenant: Yes
Lot Size Source: Assessor
Source of SqFt: Assessor
List Price/SqFt: 221.59
Lot Size Price/SqFt: 77.3
Year Built: 1979
Combined SqFt: 8800
Electric
Electric Company: TEP
Income
Vacancy Loss: 0
Adjusted Gross: 216700
Gross Scheduled Rent: 231600
Gas
None: 1
Analysis
Gross Rent Multi: 8.08
Vacancy Rate %: 0
Cap Rate %: 6.87
Construction
Frame - Stucco: 1
Expenses
Captial Expenses: 1500
Figures Presented: Proforma
Gas/Electric: 5930.61
Maintenance Supplies: 17465
Management: 9994.89
Taxes/Assessments: 8257
Water/Sewer: 10584
Sewer
Connected: 1
Unit Information
Apartment: Low Rise
Apartment Unit Information
# of Units/1 BR: 18
Avg Mo Rent/1 BR: 950
# of Units/2 BR: 2
Avg Mo Rent/2 BR: 1100
Roof
Built-Up: 1
Tile: 1
Water
Public: 1
Property Features
Smoke Detector: 1
Fence
Chain Link: 1
Shared Fence: 1
Stucco Finish: 1
Space Information
Ceiling Height: 8ft
Door Width: 3ft
Road Type
Paved: 1
Fenced Storage
No: 1
Lot Features
North/South Exposure: 1
Main Cooling
Ceiling Fan(s): 1
Window Unit(s): 1
Main Heating
Baseboard: 1
Wall Furnace: 1
Water Heater
Electric: 1
Terms
Cash: 1
Conventional: 1
Submit: 1
Submit With Offer
Lender Pre-Approval: 1
Loan Status: 1
Proof of Funds: 1
Sold Info
Seller Concessions: 0
Landscape - Front
Desert Plantings: 1
Grass: 1
Low Care: 1
Shrubs: 1
Landscape - Rear
Low Care: 1
Parking
Paved Parking: 1
Business Location
Free Standing Bldg: 1
Freeway/Highway
Over 5.1 Miles: 1
Traffic Count
Unknown: 1
Possession
Recording: 1
Property Disclosures
Lead Based Paint: 1
Seller Prop Disclosure: 1
Special Conditions
None: 1
Remarks Misc
Geo Lat: 32.262909
Geo Lon: -110.909299
Property Features
Property Features: Smoke Detector
Construction: Frame - Stucco
Roof: Built-Up; Tile
Fenced Storage: No
Main Cooling: Ceiling Fan(s); Window Unit(s)
Main Heating: Baseboard; Wall Furnace
Water Heater: Electric
Gas: None
Sewer: Connected
Water: Public
Fence: Chain Link; Shared Fence; Stucco Finish
Landscape - Front: Desert Plantings; Grass; Low Care; Shrubs
Landscape - Rear: Low Care
Road Type: Paved
Parking: Paved Parking
Lot Features: North/South Exposure
Business Location: Free Standing Bldg
Traffic Count: Unknown
Terms: Cash; Conventional; Submit
Possession: Recording
Submit With Offer: Lender Pre-Approval; Loan Status; Proof of Funds
Property Disclosures: Lead Based Paint; Seller Prop Disclosure
Special Conditions: None
Listing Office: Pinnacle Realty and Investment Advisors LLC
Last Updated: December - 21 - 2024
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