742 E Lee Street, Tucson, AZ 85719
$2,000,000
Property Type:
Multi-Family
Square Footage:
20,104
Lot Size (sq. ft.):
34
Status:
Closed
Current Price:
$2,000,000
List Date:
3/10/2015
Last Modified:
12/08/2024
Description
University Manor's 58 units serve the University of Arizona student housing market. 5 blocks from the University. All units refurbished. No differed maintenance. Property has extensive parking, high speed internet and sparkling pool. On site laundry facilities & leasing office.
More Information MLS# 21507510
Address Information
Country: USA
Street #: 742
Direction: E
Street Name: Lee
Suffix: Street
State/Province: AZ
Zip Code: 85719
County: Pima
Location, Tax & Legal
Tax Year: 2014
Taxes: 20402
Assessments: 0
Legal Description: University Home Blk 9 Exc W116.7' S157.5' & Spndrl In NW Cor & ExcW182.41
Township: 14
Community: None
Range: 14
Section: 6
Municipality/Zoning: Tucson - O3
Fire Protection: Included in Taxes
Tax Code: 123-15-101A
Area: Central
Subdivision: University Home Addition
Contract Information
Distressed Info: None
Current Price: $2,000,000
Sold Price: $2,000,000
Listing Date: 2015-03-10
Status: Closed
Status Change Info
Off Market Date: 2015-05-13
Sold Price/SqFt: 99.48
Lot Sz Sold Prc/SqFt: 30.97
How Sold: Conventional
Pending Date: 2015-06-19
Sold Date: 2015-07-31
Sold Price: $2,000,000
Showing Information
Directions: North on Euclid from Speedway West on Lee to address
General Property Information
Lot Dimensions: Irregular
Lot Acres: 1.48
Lot Sqft: 64585
Lot Size Source: Assessor
List Price/SqFt: 109.43
Lot Size Price/SqFt: 34.06
Combined SqFt: 20104
Year Built: 1978
Unit Info
# of Units/Studios: 56
Avg Mo Rent/Studios: 454
# of Units/1 BR: 2
Avg Mo Rent/1 BR: 650
Avg Mo Rent/2 BR: 0
Avg Mo Rent/3 BR: 0
Avg Mo Rent/Other: 0
Income
Vacancy Loss: 31744
Other Income: 26380
Adjusted Gross: 312072
Total Expenses: 158323
Gross Scheduled Rent: 317436
Net Opp Income: 153749
Analysis
Gross Rent Multi: 6.41
Vacancy Rate %: 10
Exp/SqFt: 7.88
Exp % of Gross: 50.73
Cap Rate %: 7.69
Construction
Slump Block: 1
Expenses
Admin Expenses: 2399
Capital Expenses: 0
Contract Services: 2135
Figures Presented: Proforma
Gas/Electric: 0
Insurance: 9000
Maintenance Supplies: 21985
Management: 13827
Resident Manager: 42126
Taxes/Assessments: 20402
Water/Sewer: 46449
Other Expenses: 0
Sewer
Connected: 1
Water
Public: 1
Main Cooling
Wall Unit(s): 1
Main Heating
Electric: 1
Forced Air: 1
Interior Features
Interior Steps: No
Terms
Cash: 1
Conventional: 1
Security
None: 1
Property Disclosures
Unknown: 1
Miscellaneous
Master Elec Meter: No
Master Gas Meter: No
Master Water Meter: Yes
Package Available: Yes
Remarks Misc
Geo Lat: 32.241264
Geo Lon: -110.960245
Property Features
Construction: Slump Block
Main Cooling: Wall Unit(s)
Main Heating: Electric; Forced Air
Sewer: Connected
Water: Public
Security: None
Terms: Cash; Conventional
Property Disclosures: Unknown
Documents
Flyer ›Listing Office: Long Realty Company
Last Updated: December - 08 - 2024
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