50 N Mountain Avenue, Tucson, AZ 85719

$2,850,000
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
Suffix
Avenue
State/Province
AZ
Zip Code
85719
County
Pima
Country
USA

Location, Tax & Legal

Tax Code
124-08-2240
Area
Central
Subdivision
Drakes Resub

General Property Information

Dwelling Type
Quadruplex
Attached/Detached
Attached
Construction Status
Existing
Lot Dimensions
Unknown
Lot Acres
0.43
Lot Sqft
18731
Lot Size Source
Assessor
Combined SqFt
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
List Price/SqFt
296.94
Lot Size Price/SqFt
152.15

Property Features

Construction: Concrete Block; Frame - Stucco; Metal Style: Contemporary Roof: Metal Living Areas: Great Room Dining Areas: Breakfast Bar Dining Room: Area Breakfast: Bar Kitchen Features: Breakfast Bar; Electric Range; Dishwasher; Disposal; Refrigerator Bathroom Features: Shower Only/Primary; Shower Only/Hall Laundry: In Bathroom; Laundry Room Extra Room: None Interior Features: Ceiling Fan(s); Fire Sprinkler System; Vaulted Ceiling(s) Floor Covering: Ceramic Tile Window Covering: Stay Window Features: Double Pane Windows; Garden Window(s); Low-Emissivity Windows Technology: Ceiling Speakers; High Speed Internet Main Cooling: Zoned Main Heating: Electric; Zoned Water Heater: Electric Gas: None Sewer: Connected Water: Public Accessibility Option: Door Levers; Entry; Ramped Main Level; Roll-In Shower; Wide Doorways; Wide Hallways Security: Security Lights; Window Bars Pool: Community Spa: None Fence: Block; Wrought Iron Landscape - Front: Decorative Gravel; Low Care Landscape - Rear: Decorative Gravel; Low Care; Shrubs; Trees View: Residential; Mountain(s); Sunset Road Type: Paved Exterior Feature: Courtyard Lot Features: Adjacent to Alley; North/South Exposure Neighborhood Features: None Terms: Cash; Conventional Submit With Offer: Loan Pre-Qualifiaction; Proof of Funds Property Disclosures: None Special Conditions: None

Contract Information

Method of Title
Fee (Simple)
Distressed Info
None

Status Change Info

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

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
SqFt
2398
Occupancy
Yes
Stories
Single
Floor
1st
Furnished
No
Parking
On Property

Unit 2 Information

Monthly Rent
6800
# Beds
8
# Full Baths
3
# Half Baths
Yes
SqFt
2399
Occupancy
Yes
Stories
Multi
Floor
2nd
Furnished
No
Parking
On Property

Unit 3 Information

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

Unit 4 Information

Monthly Rent
6800
# Beds
8
# Full Baths
3
# Half Baths
Yes
SqFt
2394
Occupancy
Yes
Stories
Multi
Floor
2nd
Furnished
No
Parking
On Property

Analysis

Cap Rate %
8.82
Gross Rent Multi
8.54
Exp/SqFt
8.57
Exp % of Gross
24.66

Income

Gross Scheduled Rent
326400
Other Income
7228
Adjusted Gross
333628
Total Expenses
82263
Net Opp Income
251365

Expenses

Admin Expenses
698
Capital Expenses
2500
Contract Services
2450
Insurance
2424
Maintenance Supplies
25117
Management
33363
Taxes/Assessments
15711
Figures Presented
Actual

Kitchen Features

Appliance Color
Black
Countertops
Corian
Microwave
Double Microwave
Oven
Conventional

Bathroom Features

Countertops/Primary
cultured marble
Countertops/Hall
cultered marble

Electric

Electric Company
TEP

Utilities Paid

Cable TV
Tenant
Electric
Tenant
Gas
Tenant
Insurance
Tenant
Landscaping
Owner
Sewer
Tenant
Taxes
Owner
Trash
Tenant
Water
Tenant

Driveway

Paved
Asphalt

RV Parking

Other
None

Subdivision Restrict

Age Restrictions
No
Deed Restrictions
Yes
CC&Rs
Yes

Submit With Offer

Digital Signatures
Yes
Seller Title Company
Title Security

Home Protection

Offered
No

Sold Info

Seller Concessions
96000
IDX
Listing Office: Tucson Integrity Realty, LLC
Last Updated: December - 10 - 2024
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