2015 &2027 E Benson Highway, Tucson, AZ 85714

$1,550,000
Property Type: Commercial Square Footage: 8,850 Lot Size (sq. ft.): 24 Status: Closed
Current Price: $1,550,000 List Date: 11/22/2021 Last Modified: 12/15/2024

Overview

Description

22 units near i10 just minutes from downtown, close to the airport, shopping, dining and entertainment. Solid masonry constructed units ready to cash flow for a new owner. Additional parking income from neighboring dispensary and historic signage income from the city of Tucson. Priced to sell, this listing will not last! 132-19-0060 PC 125'X300' ON NE SIDE OF BENSON HWY BEG 690.78' SE FROM E LINE OF CAMPBELL AVE .70 AC -32-14-14 132-19-0070 SE125' OF NW940.78' OF SW300' OF THAT PT OF SW4 LYG NE OF BENSON HWY & E OF CAMPBELL AVE LESS WIDENED RD .70 AC SEC 32-14-14

Listing Details MLS# 22126413

Address Information

Street #
2015 &2027
Direction
E
Street Name
Benson
Suffix
Highway
State/Province
AZ
Zip Code
85714
County
Pima
Country
USA

Location, Tax & Legal

Tax Code
132-19-0060
Area
South
Tax Year
2020
Taxes
5363
Assessments
0
Legal Description
2 legals, see property description.
Municipality/Zoning
Tucson - C2
Fire Protection
Included in Taxes
FEMA Flood Zone
No

General Property Information

Property Sub-Type
Apartment
# Units
22
Total Parking
35
Multi-Tenant
Yes
Year Built
1948
Lot Dimensions
irregular
Lot Acres
1.43
Lot Sqft
62291
Lot Size Source
Assessor
Combined SqFt
8850
Source of SqFt
Assessor
List Price/SqFt
175.14
Lot Size Price/SqFt
24.88

Property Features

Construction: Concrete Block Roof: Tile Sewer: Connected Water: Public Accessibility Option: Level Landscape - Front: Low Care Landscape - Rear: Low Care Road Type: Paved Parking: Free; Private Parking Terms: Cash; Conventional; Owner Carry Submit With Offer: Digital Signature Accepted; Proof of Funds Property Disclosures: Lead Based Paint; Unknown Special Conditions: None

Contract Information

Method of Title
Fee (Simple)
Short Sale
No

Status Change Info

Off Market Date
2021-12-29
Pending Date
2022-02-24
Sold Date
2022-03-04
Sold Price/SqFt
175.14
Lot Sz Sold Prc/SqFt
24.88
Financing
Conventional

More Information

Showing Information

Directions
From Kino, east on Benson Hwy to The Owl Lodge

Income

Gross Scheduled Rent
158400
Vacancy Loss
7920
Other Income
37200
Adjusted Gross
187680
Net Opp Income
111921

Analysis

Cap Rate %
9
Gross Rent Multi
8.26
Vacancy Rate %
5

Expenses

Admin Expenses
9600
Figures Presented
Proforma
Gas/Electric
30000
Management
9500
Taxes/Assessments
5362
Water/Sewer
12000
Resident Manager
0

Unit Information

Apartment
Low Rise

Apartment Unit Information

# of Units/Studios
21
Avg Mo Rent/Studios
600
# of Units/1 BR
Yes
Avg Mo Rent/1 BR
700

Electric

Electric Company
TEP

Construction

Concrete Block
Yes

Sewer

Connected
Yes

Roof

Tile
Yes

Water

Public
Yes

Road Type

Paved
Yes

Terms

Cash
Yes
Conventional
Yes
Owner Carry
Yes

Submit With Offer

Digital Signature Accepted
Yes
Proof of Funds
Yes

Accessibility Option

Level
Yes

Sold Info

Seller Concessions
0

Landscape - Front

Low Care
Yes

Landscape - Rear

Low Care
Yes

Parking

Free
Yes
Private Parking
Yes

Freeway/Highway

1.1 - 2 Miles
Yes
Access
Yes

Property Disclosures

Lead Based Paint
Yes
Unknown
Yes

Special Conditions

None
Yes
Listing Office: Realty Executives Arizona Territory
IDX
Last Updated: December - 15 - 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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