1525 N Euclid Avenue, Tucson, AZ 85719

$4,250,000

Nice landscaping and wall surrounds the complex

Great Location 5 blocks from University of Arizona

New Cabinets, counters, tile, dishwasher, Microwave, and paint 2016

New Vanity's in bathrooms, culture marble surrounds in bathrooms.

Floorplan of 56 studios. 2 one bedroom units not shown.

Property Type: Multi-Family Square Footage: 21,148 Lot Size (sq. ft.): 64,469 Status: Closed

Current Price: $4,250,000 List Date: 3/13/2017 Last Modified: 12/09/2024

Overview

Description

AMAZING OPPORTUNITY to own a Gorgeously remodeled (2016) 58 unit apartment complex less than 5 blocks to the University of Arizona. Fully leased through July 2018 (Yes, 2018!!). Each unit had new hardwood cabinets, granite counter tops, porcelain tile, paint, dishwasher, Microwave & electrical fixtures installed during 2016. New Clubhouse with leasing office and laundry room built in 2016. New block walls and metal gates installed 2016. Swimming pool, turf, and landscaping updated 2016. Complex built with concrete block exterior walls and concrete floors between units (except in bathrooms (plumbing). New Master Lease starting 8/1/2017. Numbers presented reflect new master lease. One of members of the Seller is AZ licensed broker. Please do not go on the property or disturb tenants.

Listing Details MLS# 21707065

Address Information

Street #: 1525
Direction: N
Street Name: Euclid
Suffix: Avenue
State/Province: AZ
Zip Code: 85719
County: Pima
Country: USA

Location, Tax & Legal

Tax Code: 123-15-101A
Area: Central
Subdivision: University Home Addition

General Property Information

Lot Dimensions: Irregular
Lot Acres: 1.48
Lot Sqft: 64469
Lot Size Source: Assessor
Combined SqFt: 21148
Year Built: 1978
List Price/SqFt: 200.96
Lot Size Price/SqFt: 65.92

Property Features

Construction: Concrete Block Main Cooling: Central Air Main Heating: Electric; Forced Air Sewer: Connected Water: Public Neighborhood Features: Gated Community Terms: Cash; Conventional Property Disclosures: Unknown

Contract Information

Distressed Info: None

Status Change Info

Off Market Date: 2017-04-17
Pending Date: 2017-06-23
Sold Date: 2017-08-09
Sold Price/SqFt: 200.96
Lot Sz Sold Prc/SqFt: 65.92
How Sold: Conventional

More Information

Showing Information

Directions: From Speedway and Euclid. North to Address. Located on SW Corner of Euclid and Lee.

Unit Info

# of Units/Studios: 56
Avg Mo Rent/Studios: 750
# of Units/1 BR: 2
Avg Mo Rent/1 BR: 750
# of Units/Other: Yes
Avg Mo Rent/Other: 112.5

Analysis

Cap Rate %: 9.37
Gross Rent Multi: 8.12
Exp/SqFt: 5.93
Exp % of Gross: 23.95

Income

Gross Scheduled Rent: 522000
Other Income: 1400
Adjusted Gross: 523400
Total Expenses: 125370
Net Opp Income: 398030

Expenses

Admin Expenses: 750
Capital Expenses: 5000
Contract Services: 8400
Insurance: 7675
Maintenance Supplies: 24000
Management: 52200
Taxes/Assessments: 25385
Other Expenses: 1960
Figures Presented: Proforma

Interior Features

Interior Steps: Yes

Miscellaneous

Master Water Meter: Yes
Package Available: Yes

Listing Office: Tucson Integrity Realty, LLC

Last Updated: December - 09 - 2024

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