819 N 1st Avenue, Tucson, AZ 85719
$5,250,000
Property Type:
Commercial
Square Footage:
21,722
Lot Size (sq. ft.):
300
Status:
Closed
Current Price:
$5,250,000
List Date:
1/04/2019
Last Modified:
12/10/2024
Description
This is a rare once in a lifetime opportunity to own prime property directly next to a major university, which is turnkey and does not need renovation. Superb existing financing must be assumed by Buyer. FNMA loan: $3,000,000 @3.99% 10 year stop (from 12/17). Non-recourse AND Assumable! Major capital improvements have been done including all new windows, HVAC units, water heater, exterior paint and trim, landscaping & security cameras. 20 ''A'' units have granite, hardwood, mirrored doors on closets and dishwashers. Six units have upgraded flooring and B-level cosmetics. 15 ''B'' units feature tasteful carpeting in bedroom and living area and tile or VCT in baths and kitchen. All units have modern, tasteful cosmetics. B units are easily & inexpensively converted to ''A'' units. Owner/Agent
More Information MLS# 21825168
Address Information
Country: USA
Street #: 819
Direction: N
Street Name: 1st
Suffix: Avenue
State/Province: AZ
Zip Code: 85719
County: Pima
Location, Tax & Legal
Tax Year: 2017
Taxes: 20180.61
Assessments: 0
Taxes For: Building & Land
Legal Description: Tucson Lots 8 & 9 Blk 23
Municipality/Zoning: Tucson - HR3
Fire Protection: Included in Taxes
FEMA Flood Zone: No
Municipal Flood Zone: No
Tax Code: 117-03-0100
Area: Central
Contract Information
Method of Title: Fee (Simple)
Short Sale: No
Current Price: $5,250,000
Sold Price: $5,250,000
Listing Date: 2018-09-17
Status: Closed
Status Change Info
Off Market Date: 2019-01-04
Sold Price/SqFt: 241.69
Lot Sz Sold Prc/SqFt: 286.96
Financing: Exchange
Pending Date: 2019-01-28
Sold Date: 2019-05-22
Sold Price: $5,250,000
Showing Information
Directions: From Euclid and University Blvd, West on University Blvd to 1st Ave, North on 1st Ave to address on Left.
General Property Information
Property Sub-Type: Apartment
# Units: 41
Lot Dimensions: 188 x 100
Lot Acres: 0.42
Lot Sqft: 18295
Multi-Tenant: Yes
Lot Size Source: Assessor
Source of SqFt: Assessor
List Price/SqFt: 253.2
Lot Size Price/SqFt: 300.63
Year Built: 1971
Combined SqFt: 21722
Electric
Electric Company: TEP
Income
Vacancy Loss: 4618
Other Income: 120758
Adjusted Gross: 577960
Gross Scheduled Rent: 461820
Net Opp Income: 330334
Gas
Natural: 1
Analysis
Gross Rent Multi: 9.08
Vacancy Rate %: 1
Exp % of Gross: 29.5
Cap Rate %: 6
Construction
Masonry Stucco: 1
Expenses
Figures Presented: Proforma
Other Expenses: 138432
Sewer
Connected: 1
Apartment Unit Information
# of Units/1 BR: 40
Avg Mo Rent/1 BR: 900
# of Units/2 BR: 1
Avg Mo Rent/2 BR: 1425
Roof
Built-Up - Reflect: 1
Water
Public: 1
Property Features
Fire Sprinklers: 1
Furnished: 1
Smoke Detector: 1
Storage: 1
Fence
Stucco Finish: 1
Wrought Iron: 1
Road Type
Paved: 1
Main Cooling
Ceiling Fan(s): 1
Central Air: 1
Main Heating
Electric: 1
Forced Air: 1
Water Heater
Electric: 1
Terms
Assumption: 1
Security
Closed Circuit Camera(s): 1
Security Lights: 1
Window Bars: 1
Other: Gated Community
Sold Info
Seller Concessions: 0
Landscape - Front
Desert Plantings: 1
Low Care: 1
Landscape - Rear
Desert Plantings: 1
Low Care: 1
Parking
# Covered Parking: 12
Parking Lights: 1
Paved Parking: 1
Other: 10 Uncovered Spaces
Property Disclosures
Lead Based Paint: 1
Seller Prop Disclosure: 1
Remarks Misc
Geo Lat: 32.232256
Geo Lon: -110.961479
Property Features
Property Features: Fire Sprinklers; Furnished; Smoke Detector; Storage
Construction: Masonry Stucco
Roof: Built-Up - Reflect
Main Cooling: Ceiling Fan(s); Central Air
Main Heating: Electric; Forced Air
Water Heater: Electric
Gas: Natural
Sewer: Connected
Water: Public
Security: Closed Circuit Camera(s); Security Lights; Window Bars
Fence: Stucco Finish; Wrought Iron
Landscape - Front: Desert Plantings; Low Care
Landscape - Rear: Desert Plantings; Low Care
Road Type: Paved
Parking: Parking Lights; Paved Parking
Terms: Assumption
Property Disclosures: Lead Based Paint; Seller Prop Disclosure
Listing Office: Bright Properties
Last Updated: December - 10 - 2024

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