50 N Mountain Avenue, Tucson, AZ 85719 (MLS# 21801663)

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.): 152 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
Comparable Only Listing: No
Tax Year: 2017
Taxes: 15711
Assessments: 0
Taxes For: Dwelling & Land
Legal Description: DRAKES LOTS 1 2 3 4 & 5 BLK 27
Township: 14
Community: None
Range: 14
Section: 7
Municipality/Zoning: Tucson - R3
Fire Protection: Included in Taxes
FEMA Flood Zone: No
Municipal Flood Zone: No

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
Vacancy Rate %: 0

Income

Gross Scheduled Rent: 326400
Other Income: 7228
Adjusted Gross: 333628
Total Expenses: 82263
Net Opp Income: 251365
Vacancy Loss: 0

Expenses

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

Kitchen Features

Appliance Color: Black
Countertops: Corian
Microwave: Double Microwave
Oven: Conventional
Breakfast Bar: Yes
Electric Range: Yes
Dishwasher: Yes
Disposal: Yes
Refrigerator: Yes

Bathroom Features

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

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
Loan Pre-Qualifiaction: Yes
Proof of Funds: Yes

Home Protection

Offered: No

Sold Info

Seller Concessions: 96000

Gas

None: Yes

Construction

Concrete Block: Yes
Frame - Stucco: Yes
Metal: Yes

Style

Contemporary: Yes

Sewer

Connected: Yes

Roof

Metal: Yes

Water

Public: Yes

Living Areas

Great Room: Yes

Dining Areas

Breakfast Bar: Yes

Fence

Block: Yes
Wrought Iron: Yes

Dining Room

Area: Yes

View

City: Yes
Mountain(s): Yes
Residential: Yes
Sunset: Yes

Breakfast

Bar: Yes

Road Type

Paved: Yes

Road Maintenance

City: Yes

Lot Features

Adjacent to Alley: Yes
North/South Exposure: Yes

Main Cooling

Zoned: Yes

Laundry

In Bathroom: Yes
Laundry Room: Yes

Neighborhood Features

None: Yes

Main Heating

Electric: Yes
Zoned: Yes

Extra Room

None: Yes

Water Heater

Electric: Yes

Association & Fees

HOA: No

Interior Features

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

Terms

Cash: Yes
Conventional: Yes

Floor Covering

Ceramic Tile: Yes

Window Covering

Stay: Yes

Accessibility Option

Door Levers: Yes
Entry: Yes
Ramped Main Level: Yes
Roll-In Shower: Yes
Wide Doorways: Yes
Wide Hallways: Yes

Window Features

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

Technology

Ceiling Speakers: Yes
High Speed Internet: Yes

Security

Security Lights: Yes
Window Bars: Yes

Landscape - Front

Decorative Gravel: Yes
Low Care: Yes

Landscape - Rear

Decorative Gravel: Yes
Low Care: Yes
Shrubs: Yes
Trees: Yes

Patio/Deck

Balcony: Yes
Covered: Yes

Pool

Community: Yes

Property Disclosures

None: Yes

Spa

None: Yes

Special Conditions

None: Yes

Exterior Feature

Courtyard: Yes

Listing Office: Tucson Integrity Realty, LLC

Last Updated: December - 10 - 2024

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