5570 E Hampton Street, Tucson, AZ 85712

$2,610,000
Property Type: Commercial Square Footage: 28,812 Lot Size (sq. ft.): 47 Status: Closed
Current Price: $2,610,000 List Date: 5/31/2019 Last Modified: 12/11/2024

Overview

Description

41 unit apartment complex that is fully leased. 1 studio, 8 1 beedrooms, 8 2 bedroom 1 bath, 16 2 bedroom/2bath. 1 bedroom is 600 square feet. 2 bedroom units are over 800 square feet. 37 units have tile floors. All toilets were replaced in 2016 with low flow dual flush toilets. Participant in TEP Multi Family Housing Program. Every unit has low flow shower heads, low flow aerators, led light bulbs. Rents are higher than neighboring properties but there is still room to raise rents $25 to $50. Tenants currently pay for water as a separate charge with their rent. Many long term tenants. Do not Disturb tenants. List owner is related to seller.

Listing Details MLS# 21901658

Address Information

Street #
5570
Direction
E
Street Name
Hampton
Suffix
Street
State/Province
AZ
Zip Code
85712
County
Pima
Country
USA

Location, Tax & Legal

Tax Code
121-05-019B
Area
Central
Tax Year
2017
Taxes
20091.45
Assessments
0
Legal Description
NORTHEAST CENTER RESUBDIVISION NO 2 BLK E E20' LOT 1 & W260' LOT 2
Development Name
NORTHEAST CENTER RESUBDIVISION NO 2 BLK E E20' LOT
Municipality/Zoning
Tucson - O3
Fire Protection
Included in Taxes
FEMA Flood Zone
No
Municipal Flood Zone
No

General Property Information

Property Sub-Type
Apartment
Construction Status
Existing
# Units
41
Multi-Tenant
Yes
Year Built
1972
Lot Dimensions
unknown
Lot Acres
1.35
Lot Sqft
58800
Lot Size Source
Assessor
Combined SqFt
28812
Source of SqFt
Assessor
List Price/SqFt
97.18
Lot Size Price/SqFt
47.62

Property Features

Property Features: Smoke Detector Construction: Concrete Block Roof: Built-Up Main Cooling: Central Air; Gas Main Heating: Gas Pac Water Heater: Electric Gas: Natural Sewer: Connected Water: Public Green Features: Dual-Flush Toilets; Low Flow Faucets; Low Flow Showerheads; Water Sense Shower Head Fence: Wrought Iron Landscape - Front: Decorative Gravel; Low Care Landscape - Rear: Low Care Road Type: Paved Parking: Free; Public Parking Lot Features: Adjacent to Alley Terms: Cash; Conventional; Exchange; Submit Possession: Negotiable Submit With Offer: Lender Pre-Approval; Loan Status; Proof of Funds; Written Lender Approval Property Disclosures: Lead Based Paint

Contract Information

Short Sale
No

Status Change Info

Off Market Date
2019-07-19
Pending Date
2019-09-09
Sold Date
2019-09-13
Sold Price/SqFt
90.59
Lot Sz Sold Prc/SqFt
44.39
Financing
Conventional

More Information

Income

Gross Scheduled Rent
285396
Other Income
2527

Analysis

Cap Rate %
9.8

Expenses

Captial Expenses
6703
Contract Services
7100
Gas/Electric
3500
Insurance
4745
Taxes/Assessments
19775
Water/Sewer
22038

Unit Information

Apartment
Low Rise

Apartment Unit Information

# of Units/Studios
Yes
Avg Mo Rent/Studios
550
# of Units/1 BR
16
Avg Mo Rent/1 BR
475
# of Units/2 BR
24
Avg Mo Rent/2 BR
675

Space Information

Ceiling Height
8ft
Door Width
3ft

Electric

Electric Company
TEP

Gas

Natural
Yes

Construction

Concrete Block
Yes

Sewer

Connected
Yes

Roof

Built-Up
Yes

Water

Public
Yes

Property Features

Smoke Detector
Yes

Fence

Wrought Iron
Yes

Road Type

Paved
Yes

Lot Features

Adjacent to Alley
Yes

Main Cooling

Central Air
Yes
Gas
Yes

Main Heating

Gas Pac
Yes

Water Heater

Electric
Yes

Terms

Cash
Yes
Conventional
Yes
Exchange
Yes
Submit
Yes

Submit With Offer

Lender Pre-Approval
Yes
Loan Status
Yes
Proof of Funds
Yes
Written Lender Approval
Yes

Green Features

Dual-Flush Toilets
Yes
Low Flow Faucets
Yes
Low Flow Showerheads
Yes
Water Sense Shower Head
Yes

Sold Info

Seller Concessions
0

Landscape - Front

Decorative Gravel
Yes
Low Care
Yes

Landscape - Rear

Low Care
Yes

Parking

Free
Yes
Public Parking
Yes

Freeway/Highway

Over 5.1 Miles
Yes

Possession

Negotiable
Yes

Property Disclosures

Lead Based Paint
Yes
Listing Office: 520 Realty LLC
IDX
Last Updated: December - 11 - 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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