1030 E Lee Street, Tucson, AZ 85719

$1,150,000
Property Type: Commercial Square Footage: 11,338 Lot Size (sq. ft.): 39 Status: Closed
Current Price: $1,150,000 List Date: 9/28/2021 Last Modified: 12/14/2024

Overview

Description

Downtown multifamily portfolio just north of the UofA in prime location! Portfolio consists of 3 contiguous parcels at 1030, 1016 & 1014 E Lee St. 1030 E Lee St is a 12 unit apartment complex with 2 studios, 9 1 bedroom units and 1 2 bed 1 bath unit. 1016 E Lee St is a 5 plex with 4 1 bedroom units and 1 2 bed unit. 1014 E Lee St is a 2 bed 1 bath single family home. Excellent value add opportunity, see brochure in docs tab and schedule your showing today!

Listing Details MLS# 22122299

Address Information

Street #
1030
Direction
E
Street Name
Lee
Suffix
Street
State/Province
AZ
Zip Code
85719
County
Pima
Country
USA

Location, Tax & Legal

Tax Code
123-15-233A
Area
Central
Tax Year
2020
Taxes
6270
Assessments
0
Legal Description
UNIVERSITY HOME W10' LOT 2 & LOTS 3 4 & 5 BLK 18 & UNIVERSITY HOME LOT 6 BLK 18 & UNIVERSITY HOME LOT 7 BLK 18
Municipality/Zoning
Tucson - R2
Fire Protection
Included in Taxes
FEMA Flood Zone
No
Municipal Flood Zone
No

General Property Information

Property Sub-Type
Apartment
Year Built
1937
Lot Dimensions
irregular
Lot Acres
0.7
Lot Sqft
30492
Lot Size Source
Assessor
Combined SqFt
11338
Source of SqFt
Owner
List Price/SqFt
105.84
Lot Size Price/SqFt
39.35

Property Features

Property Features: Smoke Detector Roof: Built-Up; Shingle Fenced Storage: No Main Cooling: Central Air Main Heating: Forced Air; Natural Gas Water Heater: Electric; Natural Gas Gas: Natural Sewer: Connected Water: Public Accessibility Option: Level Security: Window Bars Landscape - Front: Low Care Road Type: Paved Parking: Private Parking Lot Features: Adjacent to Alley Traffic Count: Unknown Terms: Cash; Conventional; Submit Possession: Negotiable Submit With Offer: Proof of Funds Property Disclosures: Lead Based Paint; Unknown Special Conditions: Fix Up

Contract Information

Short Sale
No

Status Change Info

Off Market Date
2021-10-13
Pending Date
2021-10-27
Sold Date
2021-12-28
Sold Price/SqFt
101.43
Lot Sz Sold Prc/SqFt
37.71
Financing
Other

More Information

Showing Information

Directions
From Speedway & Park, north on park to Lee. East on Lee to address, properties on your right.

Income

Gross Scheduled Rent
261600
Vacancy Loss
15696
Other Income
300
Adjusted Gross
246204
Net Opp Income
138304

Analysis

Cap Rate %
8.64
Gross Rent Multi
4.67
Vacancy Rate %
6

Expenses

Captial Expenses
60385
Figures Presented
Proforma
Insurance
7600
Maintenance Supplies
400000
Management
20000
Taxes/Assessments
6270
Gas/Electric
0
Resident Manager
0
Water/Sewer
0

Unit Information

Apartment
Low Rise

Apartment Unit Information

# of Units/Studios
2
Avg Mo Rent/Studios
1000
# of Units/1 BR
13
Avg Mo Rent/1 BR
1140
# of Units/2 BR
3
Avg Mo Rent/2 BR
1400

Electric

Electric Company
TEP

Sold Info

Seller Concessions
15000

Gas

Natural
Yes

Sewer

Connected
Yes

Roof

Built-Up
Yes
Shingle
Yes

Water

Public
Yes

Property Features

Smoke Detector
Yes

Road Type

Paved
Yes

Fenced Storage

No
Yes

Lot Features

Adjacent to Alley
Yes

Main Cooling

Central Air
Yes

Main Heating

Forced Air
Yes
Natural Gas
Yes

Water Heater

Electric
Yes
Natural Gas
Yes

Terms

Cash
Yes
Conventional
Yes
Submit
Yes

Submit With Offer

Proof of Funds
Yes

Accessibility Option

Level
Yes

Security

Window Bars
Yes

Landscape - Front

Low Care
Yes

Parking

Private Parking
Yes

Freeway/Highway

1.1 - 2 Miles
Yes

Traffic Count

Unknown
Yes

Possession

Negotiable
Yes

Property Disclosures

Lead Based Paint
Yes
Unknown
Yes

Special Conditions

Fix Up
Yes

Documents

IDX
Listing Office: Realty Executives Arizona Territory
Last Updated: December - 14 - 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 2020 MLS of Southern Arizona. All Rights Reserved.
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