3810 E monte vista Drive, Tucson, AZ 85716
$1,060,000
Property Type:
Commercial
Square Footage:
11,200
Lot Size (sq. ft.):
30
Status:
Closed
Current Price:
$1,060,000
List Date:
9/18/2018
Last Modified:
12/10/2024
Description
PROVEN UPSIDE POTENTIAL! Exciting opportunity to own 24 one-bedroom and junior one-bedroom apartments with a swimming pool, laundry and basketball pad. Sellers have refurbished 12 units and raised these rents to $500 for the junior one-bedrooms and $575 for the one-bedroom units! Currently, 22 of the units are occupied while 2 recently upgraded units are in the process of being leased. Strong demand in the area and tremendous rental upside has been proven. Ample parking, all units individually metered for electricity. Priced to sell at under $46K per unit! If you've been looking for a property with upside, this is it! PLEASE DO NOT DISTURB TENANTS – CONTACT LISTING AGENT FOR SHOWING.
More Information MLS# 21825027
Address Information
Country: USA
Street #: 3810
Direction: E
Street Name: monte vista
Suffix: Drive
State/Province: AZ
Zip Code: 85716
County: Pima
Location, Tax & Legal
Tax Year: 2017
Taxes: 7889.87
Assessments: 0
Taxes For: Building & Land
Legal Description: Lincoln Park Lot 9 Blk 8
Municipality/Zoning: Pima County - CR2
Fire Protection: Included in Taxes
FEMA Flood Zone: No
Municipal Flood Zone: No
Tax Code: 111-06-2010
Area: Central
Contract Information
Method of Title: Fee (Simple)
Short Sale: No
Current Price: $1,060,000
Sold Price: $1,060,000
Listing Date: 2018-09-17
Status: Closed
Status Change Info
Off Market Date: 2018-09-20
Sold Price/SqFt: 94.64
Lot Sz Sold Prc/SqFt: 29.46
Financing: Conventional
Pending Date: 2018-10-10
Sold Date: 2018-12-14
Sold Price: $1,060,000
Showing Information
Directions: North on Alvernon, one block past Glenn, turn left on Monte Vista to property on the left.
General Property Information
Property Sub-Type: Apartment
Construction Status: Existing
# Units: 24
Lot Dimensions: 130 x 300
Lot Acres: 0.83
Total Parking: 44
Lot Sqft: 35981
Multi-Tenant: Yes
Lot Size Source: Assessor
Source of SqFt: Assessor
List Price/SqFt: 98.21
Lot Size Price/SqFt: 30.57
Year Built: 1981
Combined SqFt: 11200
Electric
Electric Company: Tucson Electric
Income
Vacancy Loss: 7610
Other Income: 1000
Adjusted Gross: 144590
Total Expenses: 65480
Gross Scheduled Rent: 151200
Net Opp Income: 79110
Gas
None: 1
Analysis
Gross Rent Multi: 7.33
Vacancy Rate %: 5.03
Exp/SqFt: 5.85
Exp % of Gross: 45.29
Cap Rate %: 7.46
Construction
Frame - Stucco: 1
Expenses
Admin Expenses: 0
Captial Expenses: 0
Contract Services: 0
Figures Presented: Proforma
Gas/Electric: 2400
Insurance: 3200
Maintenance Supplies: 2880
Management: 10000
Resident Manager: 0
Taxes/Assessments: 8000
Water/Sewer: 12000
Other Expenses: 27000
Sewer
Connected: 1
Unit Information
Apartment: Mid Rise
Apartment Unit Information
# of Units/1 BR: 8
Avg Mo Rent/1 BR: 575
# of Units/Other: 16
Avg Mo Rent/Other: 500
Roof
Built-Up - Reflect: 1
Water
Public: 1
Property Features
Smoke Detector: 1
Fence
Chain Link: 1
Slump Block: 1
Road Type
Paved: 1
Fenced Storage
No: 1
Lot Features
North/South Exposure: 1
Main Cooling
Central Air: 1
Wall Unit(s): 1
Main Heating
Electric: 1
Forced Air: 1
Wall Furnace: 1
Water Heater
Electric: 1
Terms
Cash: 1
Conventional: 1
Exchange: 1
Submit With Offer
Dual Agency Consent: 1
Earnest Check: 1
Loan Pre-Qualifiaction: 1
Proof of Funds: 1
Seller Title Company: Fidelity National
Written Lender Approval: 1
Accessibility Option
None: 1
Security
Security Lights: 1
Sold Info
Seller Concessions: 40000
Landscape - Front
Decorative Gravel: 1
Low Care: 1
Trees: 1
Landscape - Rear
Decorative Gravel: 1
Low Care: 1
Trees: 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
Restrictions
Deed: 1
Property Disclosures
Military Airport Vct: 1
Public Airport Vcty: 1
Special Conditions
Property Sold As-Is: 1
Remarks Misc
Geo Lat: 32.259158
Geo Lon: -110.911299
Property Features
Property Features: Smoke Detector
Construction: Frame - Stucco
Roof: Built-Up - Reflect
Fenced Storage: No
Main Cooling: Central Air; Wall Unit(s)
Main Heating: Electric; Forced Air; Wall Furnace
Water Heater: Electric
Gas: None
Sewer: Connected
Water: Public
Accessibility Option: None
Security: Security Lights
Fence: Chain Link; Slump Block
Landscape - Front: Decorative Gravel; Low Care; Trees
Landscape - Rear: Decorative Gravel; Low Care; Trees
Road Type: Paved
Parking: Paved Parking
Lot Features: North/South Exposure
Business Location: Free Standing Bldg
Traffic Count: Unknown
Terms: Cash; Conventional; Exchange
Possession: Recording
Submit With Offer: Dual Agency Consent; Earnest Check; Loan Pre-Qualifiaction; Proof of Funds; Written Lender Approval
Property Disclosures: Military Airport Vct; Public Airport Vcty
Special Conditions: Property Sold As-Is
Restrictions: Deed
Listing Office: ESM Properties, LLC
Last Updated: December - 10 - 2024
The data relating to real estate listings on this website comes in part from the Internet Data Exchange (IDX) program of Multiple Listing Service of Southern Arizona. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listings provided by brokerages other than the listing brokerage here are identified with the MLSSAZ IDX Logo.
All Information Is Deemed Reliable But Is Not Guaranteed Accurate.
Listing information Copyright 2020 MLS of Southern Arizona. All Rights Reserved.