3717 E Lee Street, Tucson, AZ 85716
$1,500,000
Property Type:
Commercial
Square Footage:
10,608
Lot Size (sq. ft.):
40
Status:
Closed
Current Price:
$1,500,000
List Date:
6/18/2021
Last Modified:
12/14/2024
Description
All of the units have been remodeled, Great Rental mix of 1 and 2 Bedroom units. 100%
occupied, Half of the units are earth tones and half are Grey tones. Renovated laundry room
with 4 new washers and 4 new Dryers, new mini split, (owner owned). Vending Machine in Laundry Rm. (owner owned). New Irrigation system, new gravel and Rock, New Roof coating, Asphalt seal coated parking lot with new strips, done in 2002. 12 covered and 12 uncovered parking spaces. All Stainless Steal Appliance. 6 units have brand new A/C units. Great location in Central Tucson.
More Information MLS# 22115786
Address Information
Country: USA
Street #: 3717
Direction: E
Street Name: Lee
Suffix: Street
State/Province: AZ
Zip Code: 85716
County: Pima
Location, Tax & Legal
Tax Year: 2020
Taxes: 8024.74
Assessments: 0
Legal Description: Speedway Park Lot 7 Blk 2
Municipality/Zoning: Tucson - R2
Fire Protection: Included in Taxes
FEMA Flood Zone: No
Municipal Flood Zone: No
Tax Code: 122-18-0570
Area: Central
Contract Information
Method of Title: Fee (Simple)
Short Sale: No
Current Price: $1,500,000
Sold Price: $1,500,000
Listing Date: 2021-06-18
Status: Closed
Status Change Info
Off Market Date: 2021-08-12
Sold Price/SqFt: 141.4
Lot Sz Sold Prc/SqFt: 40.85
Financing: Conventional
Pending Date: 2021-08-12
Sold Date: 2021-10-12
Sold Price: $1,500,000
Showing Information
Directions: North on Alvernon from Speedway to Lee St, West to address
General Property Information
Property Sub-Type: Apartment
Construction Status: Existing
# Units: 12
Lot Dimensions: 120 x 300
Lot Acres: 0.84
Total Parking: 24
Lot Sqft: 36720
Multi-Tenant: Yes
Lot Size Source: Assessor
Source of SqFt: Assessor
List Price/SqFt: 141.4
Lot Size Price/SqFt: 40.85
Year Built: 1962
Combined SqFt: 10608
Electric
Electric Company: TEP
Income
Vacancy Loss: 5712
Other Income: 4000
Adjusted Gross: 112328
Gross Scheduled Rent: 114040
Gas
Natural: 1
Analysis
Gross Rent Multi: 13.35
Vacancy Rate %: 5.01
Cap Rate %: 4.87
Construction
Masonry Stucco: 1
Expenses
Admin Expenses: 992
Captial Expenses: 3000
Figures Presented: Actual
Gas/Electric: 1193
Insurance: 1869
Maintenance Supplies: 7068
Management: 6000
Taxes/Assessments: 8024
Other Expenses: 1624
Sewer
Connected: 1
Unit Information
Apartment: Low Rise
Apartment Unit Information
# of Units/1 BR: 6
Avg Mo Rent/1 BR: 725
# of Units/2 BR: 6
Avg Mo Rent/2 BR: 862
Roof
Built-Up - Reflect: 1
Water
Public: 1
Road Type
Paved: 1
Main Cooling
Central Air: 1
Main Heating
Forced Air: 1
Natural Gas: 1
Water Heater
Natural Gas: 1
Sold Info
Seller Concessions: 0
Remarks Misc
Geo Lat: 32.242097
Geo Lon: -110.913294
Property Features
Construction: Masonry Stucco
Roof: Built-Up - Reflect
Main Cooling: Central Air
Main Heating: Forced Air; Natural Gas
Water Heater: Natural Gas
Gas: Natural
Sewer: Connected
Water: Public
Road Type: Paved
Lead Paint Discl ›
upgrades ›Listing Office: Long Realty
Last Updated: December - 14 - 2024
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