716 N Palo Verde Boulevard, Tucson, AZ 85716
$1,100,000
Property Type:
Commercial
Square Footage:
4,824
Lot Size (sq. ft.):
58
Status:
Closed
Current Price:
$1,100,000
List Date:
10/11/2024
Last Modified:
9/23/2025
Description
Mid Town Casitas is located in the heart of Miramonte steps to the 3rd St bike path comprised of six luxury apartments on two residential parcels. Three duplex buildings and a laundry/storage building surrounding a large courtyard with lush desert landscaping. The property has been completely remodeled to reflect old Tucson architecture with old world and modern interior finishes. All units are large 1/1 floor plans with lots of windows, front and rear entry/ext doors, plank & beam ceilings, AC/Gas heating, gas appliances, hard surface flooring, private outdoor spaces, off street parking and free laundry facilities. This property attracts quality tenants with low turn over. Additional information under the documents tab.
More Information MLS# 22425266
Address Information
Country: USA
Street #: 716
Direction: N
Street Name: Palo Verde
Suffix: Boulevard
State/Province: AZ
Zip Code: 85716
County: Pima
Location, Tax & Legal
Tax Year: 2023
Taxes: 4120
Assessments: 0
Legal Description: Lengthy supplied in escrow
Municipality/Zoning: Tucson - R2
Fire Protection: Included in Taxes
FEMA Flood Zone: No
Municipal Flood Zone: No
Tax Code: 125-11-014G
Area: Central
Contract Information
Short Sale: No
Current Price: $1,100,000
Sold Price: $1,100,000
Listing Date: 2024-10-11
Status: Closed
Status Change Info
Off Market Date: 2024-10-21
Sold Price/SqFt: 228.03
Lot Sz Sold Prc/SqFt: 57.39
Financing: Conventional
Pending Date: 2024-11-19
Sold Date: 2024-11-27
Sold Price: $1,100,000
Showing Information
Directions: Alvernon & 3rd St, West to Palo Verde, south to property
General Property Information
Property Sub-Type: Apartment
# Units: 6
Lot Dimensions: Irregular
Lot Acres: 0.44
Total Parking: 12
Lot Sqft: 19166
Multi-Tenant: Yes
Lot Size Source: Assessor
Source of SqFt: Assessor
List Price/SqFt: 232.17
Lot Size Price/SqFt: 58.44
Year Built: 1949
Combined SqFt: 4824
Income
Vacancy Loss: 1854
Adjusted Gross: 90846
Total Expenses: 18745
Gross Scheduled Rent: 92700
Net Opp Income: 72101
Gas
Natural: 1
Analysis
Gross Rent Multi: 12.08
Vacancy Rate %: 2
Exp/SqFt: 3.89
Cap Rate %: 6.44
Construction
Concrete Block: 1
Expenses
Admin Expenses: 0
Captial Expenses: 0
Contract Services: 0
Figures Presented: Actual
Gas/Electric: 600
Insurance: 2350
Maintenance Supplies: 2500
Management: 0
Resident Manager: 0
Taxes/Assessments: 4120
Water/Sewer: 5325
Other Expenses: 3850
Sewer
Connected: 1
Apartment Unit Information
# of Units/1 BR: 6
Avg Mo Rent/1 BR: 1285
Roof
Built-Up: 1
Water
Public: 1
Road Type
Paved: 1
Main Cooling
Central Air: 1
Main Heating
Gas Pac: 1
Water Heater
Natural Gas: 1
Terms
Cash: 1
Conventional: 1
Exchange: 1
Sold Info
Seller Concessions: 0
Landscape - Front
Desert Plantings: 1
Landscape - Rear
Desert Plantings: 1
Possession
Immediate: 1
Property Disclosures
Seller Prop Disclosure: 1
Special Conditions
None: 1
Remarks Misc
Geo Lat: 32.231282
Geo Lon: -110.917723
Property Features
Construction: Concrete Block
Roof: Built-Up
Main Cooling: Central Air
Main Heating: Gas Pac
Water Heater: Natural Gas
Gas: Natural
Sewer: Connected
Water: Public
Landscape - Front: Desert Plantings
Landscape - Rear: Desert Plantings
Road Type: Paved
Terms: Cash; Conventional; Exchange
Possession: Immediate
Property Disclosures: Seller Prop Disclosure
Special Conditions: None
Brochure ›Listing Office: Better Homes & Gardens Real Estate - SJ Fowler
Last Updated: September - 23 - 2025
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