50 N Mountain Avenue, Tucson, AZ 85719

$2,850,000

Large bathrooms with cultured marble counters and shower surrounds

Property Type: Multi-Family Square Footage: 9,598 Lot Size (sq. ft.): 18,731 Status: Closed

Current Price: $2,850,000 List Date: 1/16/2018 Last Modified: 12/10/2024

Overview

Description

Rare opportunity to purchase newer construction within 3 blocks of UofA around a 8.8% Cap rate! This newer building integrates metal roofing with block and stucco finishes for a really neat modern look that the students love. 4-plex, with 8bds/3.5bths per unit. Large units with huge common areas, all tile throughout, hardwood cabinets, corian counters, and ample appliances. Floorplan designed by and for students. Pool, Large Parking lot, basketball hoops, and fully enclosed yard and common area.Fully leased through July 2018. Full package available.

Listing Details MLS# 21801663

Address Information

Street #: 50
Direction: N
Street Name: Mountain
St Suffix: Avenue
State: AZ
Zip Code: 85719
County: Pima
Country: USA

Location, Tax & Legal

Assessor #: 124-08-2240
Area: Central
Subdivision/Neighborhood: Drakes Resub
Comparable Only Listing: No
Municipality/Zoning: Tucson - R3
FEMA Flood Zone: No

General Property Information

Dwelling Type: Quadruplex
Construction Status: Existing
Lot Dimensions: Unknown
Lot Sqft: 18731
Lot Size Source: Assessor
LivingArea: 9598
Year Built: 2015
Total Parking: 14
School District: TUSD
Elementary School: Cragin
Middle School: Mansfeld
High School: Tucson
Horse Property: No
Horse Facilities: No
Attached/Detached: Attached
Lot Acres: 0.43
List Price/SqFt: 296.94
Lot Size Price/SqFt: 152.15

Property Features

Construction: Concrete Block; Frame - Stucco; Metal Roof: Metal Dining Areas: Breakfast Bar Breakfast: Bar Kitchen Features: Electric Range Laundry: In Bathroom; Laundry Room Interior Features: Ceiling Fan(s) Floor Covering: Ceramic Tile Window Covering: Stay Window Features: Double Pane Windows Technology: Ceiling Speakers; High Speed Internet Main Cooling: Zoned Sewer: Connected Accessibility Option: Door Levers; Entry; Ramped Main Level; Roll-In Shower; Wide Doorways; Wide Hallways Security: Security Lights; Window Bars Fence: Block; Wrought Iron Landscape - Front: Decorative Gravel; Low Care View: Residential; Mountain(s) Lot Features: Adjacent to Alley Terms: Cash Submit With Offer: Loan Pre-Qualifiaction

Contract Information

Listing Price: 2850000
Method of Title: Fee (Simple)
Distressed Info: None

Status Change Info

Off Market Date: 2018-01-18
Under Contract Date: 2018-02-12
Sold Date: 2018-03-05
Sold Price/SqFt: 296.94
How Sold: Conventional
Lot Sz Sold Prc/SqFt: 152.15

More Information

Showing Information

Directions: From Broadway and Campbell. North to 10th Street. West to Mountain Ave. On Southeast corner of 10th street and Mountain.

Unit 1 Information

Monthly Rent: 6800
# Beds: 8
# Full Baths: 3
# Half Baths: Yes
Occupancy: Yes
Floor: 1st
Furnished: No
Parking: On Property
SqFt: 2398
Stories: Single

Unit 2 Information

Monthly Rent: 6800
Furnished: No
SqFt: 2399
Stories: Multi

Unit 3 Information

Monthly Rent: 6800
Furnished: No
SqFt: 2398
Stories: Single

Unit 4 Information

Monthly Rent: 6800
Furnished: No
SqFt: 2394
Stories: Multi

Analysis

CAPRate: 8.82
Gross Rent Multi: 8.54
Exp % of Gross: 24.66
Exp/SqFt: 8.57

Income

GrossScheduledIncome: 326400
Other Income: 7228
Adjusted Gross: 333628
Total Expenses: 82263
NetOperatingIncome: 251365

Expenses

Admin Expenses: 698
Capital Expenses: 2500
Contract Services: 2450
Insurance: 2424
Maintenance Supplies: 25117
Management: 33363
Figures Presented: Actual
Gas/Electric: 0
Taxes/Assessments: 15711
Water/Sewer: 0

Kitchen Features

Appliance Color: Black
Countertops: Corian
Oven: Conventional
Microwave: Double Microwave
Dishwasher: Yes
Disposal: Yes
Refrigerator: Yes

Electric

Electric Company: TEP

Utilities Paid

Landscaping: Owner
Trash: Tenant
Cable TV: Tenant
Sewer: Tenant
Water: Tenant

RV Parking

Other: None

Subdivision Restrict

CC&Rs: Yes
Age Restrictions: No
Deed Restrictions: Yes

Submit With Offer

Seller Title Company: Title Security
Digital Signatures: Yes
Proof of Funds: Yes

Home Protection

Offered: No

Style

Contemporary: Yes

Water

Public: Yes

Living Areas

Great Room: Yes

Dining Room

Area: Yes

View

City: Yes
Sunset: Yes

Road Type

Paved: Yes

Road Maintenance

City: Yes

Lot Features

North/South Exposure: Yes

Interior Features

Fire Sprinkler System: Yes
Vaulted Ceiling(s): Yes

Bathroom Features

Shower Only/Primary: Yes
Shower Only/Hall: Yes
Countertops/Primary: cultured marble
Countertops/Hall: cultered marble

Terms

Conventional: Yes

Window Features

Garden Window(s): Yes
Low-Emissivity Windows: Yes

Sold Info

Seller Concessions: 96000

Driveway

Paved: Asphalt

Exterior Feature

Courtyard: Yes

Listing Office: Tucson Integrity Realty, LLC

Last Updated: December - 10 - 2024

The data relating to real estate listings on this website comes in part from the Internet Data Exchange (IDX) program of Multiple Listing Service of Southern Arizona. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listings provided by brokerages other than the listing brokerage here are identified with the MLSSAZ IDX Logo. All Information Is Deemed Reliable But Is Not Guaranteed Accurate. Listing information Copyright 2026 MLS of Southern Arizona. All Rights Reserved.