814 E 9Th Street, Tucson, AZ 85719
$2,000,000
Property Type:
Multi-Family
Square Footage:
23,522
Lot Size (sq. ft.):
79
Status:
Closed
Current Price:
$2,000,000
List Date:
7/11/2016
Last Modified:
12/09/2024
Description
The Mark Hall Apartments, 29 brick units only 3 blocks from the University of Arizona. Apartment complexes in this area rarely come on the market. Well built UNDER RENTED (by approximately 20%-30%) property in prime location between downtown and the U of A. Only 4 blocks to 4th Ave. shops and restaurants. 24- 850-950 sq. ft. 2 bd. units, 2-studios , 2- 1 bd, and 1 -1075 sq. ft. 3 bd/2ba. 4 -2 bd. units and 1 -3bd/2ba have been totally remodeled with high-end materials. Community pool & owned laundry, Units are individually metered for gas & elec. Property is master metered for water and has two central hot water boilers. Gross income is based on current rents. Expenses are performa based on actual 2014 expenses. Longtime owner does majority of maintenance.repairs and management.
More Information MLS# 21619102
Address Information
Country: USA
Street #: 814
Direction: E
Street Name: 9Th
Suffix: Street
State/Province: AZ
Zip Code: 85719
County: Pima
Location, Tax & Legal
Tax Year: 2015
Taxes: 17089.64
Assessments: 0
Legal Description: Rieckers Lots 4,5 & 6 Blk 5
Township: 14
Community: None
Range: 14
Section: 7
Municipality/Zoning: Tucson - R3
Fire Protection: Included in Taxes
Tax Code: 124-07-080B
Area: Central
Subdivision: Rieckers Addition
Contract Information
Distressed Info: None
Current Price: $2,000,000
Sold Price: $2,000,000
Listing Date: 2016-07-11
Status: Closed
Status Change Info
Off Market Date: 2016-07-15
Sold Price/SqFt: 85.03
Lot Sz Sold Prc/SqFt: 74.03
How Sold: Conventional
Pending Date: 2016-08-06
Sold Date: 2016-09-30
Sold Price: $2,000,000
Showing Information
Directions: 6th Ave & Euclid S to 9th. Left t property
General Property Information
Lot Dimensions: Irregular
Lot Acres: 0.62
Lot Sqft: 27017
Lot Size Source: Assessor
List Price/SqFt: 91.83
Lot Size Price/SqFt: 79.95
Combined SqFt: 23522
Year Built: 1969
Unit Info
# of Units/Studios: 2
Avg Mo Rent/Studios: 412
# of Units/1 BR: 2
Avg Mo Rent/1 BR: 462
# of Units/2 BR: 24
Avg Mo Rent/2 BR: 663
# of Units/3 BR: 1
Avg Mo Rent/3 BR: 990
# of Units/Other: 29
Avg Mo Rent/Other: 0
Income
Vacancy Loss: 47342
Other Income: 6000
Adjusted Gross: 205108
Total Expenses: 70117
Gross Scheduled Rent: 246450
Net Opp Income: 134991
Analysis
Gross Rent Multi: 9.75
Vacancy Rate %: 19.21
Exp/SqFt: 2.98
Exp % of Gross: 34.19
Cap Rate %: 6.75
Construction
Brick: 1
Expenses
Admin Expenses: 0
Capital Expenses: 0
Contract Services: 5700
Figures Presented: Proforma
Gas/Electric: 3600
Insurance: 5404
Maintenance Supplies: 8324
Management: 0
Resident Manager: 0
Taxes/Assessments: 17089
Water/Sewer: 20000
Other Expenses: 10000
Sewer
Connected: 1
Water
Public: 1
Main Cooling
Central Air: 1
Main Heating
Forced Air: 1
Natural Gas: 1
Interior Features
Interior Steps: Yes
Terms
Cash: 1
Conventional: 1
Security
None: 1
Sold Info
Selling Comments: AS IS Sale
Property Disclosures
Unknown: 1
Miscellaneous
Master Water Meter: Yes
Package Available: Yes
Remarks Misc
Geo Lat: 32.223456
Geo Lon: -110.958744
Property Features
Construction: Brick
Main Cooling: Central Air
Main Heating: Forced Air; Natural Gas
Sewer: Connected
Water: Public
Security: None
Terms: Cash; Conventional
Property Disclosures: Unknown
Listing Office: Tierra Antigua Realty
Last Updated: December - 09 - 2024
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