3412 E Glenn Street, Tucson, AZ 85716
$1,104,000
Property Type:
Commercial
Square Footage:
5,588
Lot Size (sq. ft.):
40
Status:
Closed
Current Price:
$1,104,000
List Date:
2/02/2024
Last Modified:
5/15/2025
Description
Eight 2 bdrm/1 Ba one story units composed of two 4-plexes on separate tax parcels. Solid wire cut red brick construction with carports, air conditioning, private fenced yards and laundry hook-ups. RENTS ARE WAY BELOW MARKET. SIMILAR UNITS RENT FOR $1,000 TO $1,100+ PER UNIT! THIS PROPERTY HAS THE POTENTIAL FOR SIGNIFICANT UPSIDE, WITHOUT A LARGE CASH OUTLAY. It has all the features Tenants are looking for in an apartment. Please contact Listing Agent for Property Memorandum which includes actual and pro-forma rents and rent comps. Residential multifamily 30 year investor fixed rate conventional financing available with 25% down on each 4-plex. Full address is 3412-14 E. Glenn. St. Sellers will review all offers Wed. Feb. 7th 8:00 AM & respond by Feb. 7th 8:00 PM.
More Information MLS# 22402870
Address Information
Country: USA
Street #: 3412
Direction: E
Street Name: Glenn
Suffix: Street
State/Province: AZ
Zip Code: 85716
County: Pima
Location, Tax & Legal
Tax Year: 2023
Taxes: 2405.81
Assessments: 4812
Legal Description: From Parcel 001010010/ Fruitvale W2 of N234' of Lot 7 Blk 8 and Fruitvale E2 of the N234' of Lot 7 Blk 8
Development Name: 3412-14 East Glenn Street Apartments
Municipality/Zoning: Tucson - R2
Fire Protection: Included in Taxes
FEMA Flood Zone: No
Municipal Flood Zone: TBD
Tax Code: 111-07-1780
Area: Central
Contract Information
Method of Title: Fee (Simple)
Short Sale: No
Current Price: $1,104,000
Sold Price: $1,104,000
Listing Date: 2024-02-02
Status: Closed
Status Change Info
Off Market Date: 2024-02-09
Sold Price/SqFt: 197.57
Lot Sz Sold Prc/SqFt: 39.36
Financing: Conventional
Pending Date: 2024-03-10
Sold Date: 2024-03-11
Sold Price: $1,104,000
Showing Information
Directions: Fort Lowell/Country Club -S, Glenn - E to address
General Property Information
Property Sub-Type: Apartment
Construction Status: Existing
# Units: 8
Lot Dimensions: Irregular
Lot Acres: 0.64
Total Parking: 16
Lot Sqft: 28052
Multi-Tenant: Yes
Lot Size Source: Assessor
Source of SqFt: Assessor
Leasable SqFt: 5588
List Price/SqFt: 201.15
Lot Size Price/SqFt: 40.07
Year Built: 1960
Combined SqFt: 5588
Electric
Electric Company: TEP
Income
Vacancy Loss: 5280
Other Income: 0
Adjusted Gross: 100320
Total Expenses: 39759
Gross Scheduled Rent: 105600
Net Opp Income: 60561
Gas
Natural: 1
Analysis
Gross Rent Multi: 11
Vacancy Rate %: 5
Exp/SqFt: 7.12
Exp % of Gross: 39.63
Cap Rate %: 5.49
Construction
Brick: 1
Expenses
Admin Expenses: 1200
Captial Expenses: 4000
Contract Services: 1410
Gas/Electric: 0
Insurance: 2688
Maintenance Supplies: 8000
Management: 10030
Resident Manager: 0
Taxes/Assessments: 4812
Water/Sewer: 6559
Other Expenses: 1060
Sewer
Connected: 1
Unit Information
Apartment: Low Rise
Apartment Unit Information
# of Units/2 BR: 8
Roof
Built-Up - Reflect: 1
Water
Public: 1
Fence
Slump Block: 1
Wood: 1
Other: Combination
Space Information
Ceiling Height: 8ft
Road Type
Paved: 1
Lot Features
North/South Exposure: 1
Main Cooling
Central Air: 1
Main Heating
Forced Air: 1
Natural Gas: 1
Water Heater
Natural Gas: 1
Terms
Cash: 1
Conventional: 1
Exchange: 1
Submit With Offer
Digital Signature Accepted: 1
Seller Title Company: Stewart
Accessibility Option
None: 1
Security
None: 1
Sold Info
Seller Concessions: 0
Seller Paid Repairs: 0
Selling Comments: As Is Sale
Landscape - Front
Graded: 1
Low Care: 1
Landscape - Rear
Graded: 1
Low Care: 1
Parking
Free: 1
Freeway/Highway
Over 5.1 Miles: 1
Traffic Count
Unknown: 1
Possession
Recording: 1
Remarks Misc
Geo Lat: 32.257344
Geo Lon: -110.919914
Property Features
Construction: Brick
Roof: Built-Up - Reflect
Main Cooling: Central Air
Main Heating: Forced Air; Natural Gas
Water Heater: Natural Gas
Gas: Natural
Sewer: Connected
Water: Public
Accessibility Option: None
Security: None
Fence: Slump Block; Wood
Landscape - Front: Graded; Low Care
Landscape - Rear: Graded; Low Care
Road Type: Paved
Parking: Free
Lot Features: North/South Exposure
Traffic Count: Unknown
Terms: Cash; Conventional; Exchange
Possession: Recording
Submit With Offer: Digital Signature Accepted
Documents
Lead Paint Discl ›Listing Office: Tierra Antigua Realty
Last Updated: May - 15 - 2025
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