916-922 N Camino Seco, Tucson, AZ 85710

$1,085,000
Property Type: Commercial Square Footage: 6,344 Lot Size (sq. ft.): 45 Status: Closed
Current Price: $1,085,000 List Date: 9/08/2023 Last Modified: 12/23/2024

Overview

Description

Rare garden apartment complex, with lush courtyard, ideally located on the east-side of Tucson, on Camino Seco near Speedway. Amenities include carports, private fenced yards, individual storage rooms for all 2 bedroom units, and community laundry. There are very few small apartment complexes in this desirable area of Tucson and very little vacant land to build new apartments. A short walk to highly acclaimed Sahuaro High School. When a vacancy occurs, these units often pre-lease, prior to the existing Tenant vacating. Excellent access to Tucson's Amazon Distribution Center, Davis Monthan AFB, shopping & restaurants. One Owner is licensed Real Estate Broker in Arizona. Contact Listing Agent for OM.

Listing Details MLS# 22319334

Address Information

Street #
916-922
Direction
N
Street Name
Camino Seco
State/Province
AZ
Zip Code
85710
County
Pima
Country
USA

Location, Tax & Legal

Tax Code
133-35-025P
Area
East
Tax Year
2022
Taxes
2769.6
Assessments
0
Taxes For
Building & Land
Legal Description
From Parcel 001010010/Eastern Hills S58' of N356'' of Lot 22 Blk 1 & Eastern Hills S58' Of N298' lot Lot 22 Blk 1
Development Name
N/A
Municipality/Zoning
Tucson - R3
Fire Protection
Included in Taxes

General Property Information

Property Sub-Type
Apartment
Construction Status
Existing
# Units
10
Total Parking
10
Multi-Tenant
Yes
Year Built
1976
Lot Dimensions
25,483 Sq. ft
Lot Acres
0.58
Lot Sqft
25483
Lot Size Source
Assessor
Combined SqFt
6344
Source of SqFt
Assessor
List Price/SqFt
181.27
Lot Size Price/SqFt
45.13

Property Features

Property Features: Storage Construction: Other Roof: Foam Fenced Storage: No Main Cooling: Ceiling Fan(s); Central Air; Evaporative Cooling Main Heating: Forced Air; Gas Pac Water Heater: Electric Gas: Natural Sewer: Connected Water: Public Accessibility Option: None Fence: Wood Landscape - Front: Decorative Gravel; Desert Plantings; Natural Desert Landscape - Rear: Decorative Gravel; Grass; Shrubs; Trees Road Type: Paved Parking: Paved Parking Lot Features: Adjacent to Alley; North/South Exposure Business Location: Free Standing Bldg Traffic Count: Unknown Terms: Cash; Conventional Possession: Immediate Submit With Offer: Digital Signature Accepted; Earnest Check Property Disclosures: Inventory List; Lead Based Paint; Leases; Military Airport Vct; Seller Prop Disclosure Special Conditions: None

Contract Information

Method of Title
Fee (Simple)
Short Sale
No

Status Change Info

Off Market Date
2023-11-02
Pending Date
2023-12-07
Sold Date
2023-12-14
Sold Price/SqFt
171.03
Lot Sz Sold Prc/SqFt
42.58
Financing
Conventional

More Information

Showing Information

Directions
Speedway/Camino Seco S-to frontage Rd on eastside of Camino Seco. Sign reads Alps View Apartments. Carports are in front and lush courtyard and apartments are not visible from street.

Income

Gross Scheduled Rent
133440
Vacancy Loss
5338
Other Income
10539
Adjusted Gross
138641
Net Opp Income
86980

Analysis

Cap Rate %
7
Gross Rent Multi
7.83
Vacancy Rate %
4
Exp % of Gross
37.3

Expenses

Admin Expenses
500
Figures Presented
Proforma
Gas/Electric
5436
Insurance
2907
Maintenance Supplies
3950
Management
13000
Taxes/Assessments
5539
Water/Sewer
5555
Other Expenses
14774

Unit Information

Apartment
Low Rise

Apartment Unit Information

# of Units/1 BR
4
Avg Mo Rent/1 BR
856
# of Units/2 BR
6
Avg Mo Rent/2 BR
1168

Electric

Electric Company
TEP

Security

Other
Lights

Parking

# Covered Parking
6
Paved Parking
Yes

Submit With Offer

Seller Title Company
Stewart Title
Digital Signature Accepted
Yes
Earnest Check
Yes

Sold Info

Est. Closing Date
2023-12-14
Seller Concessions
0

Gas

Natural
Yes

Construction

Other
Yes

Sewer

Connected
Yes

Roof

Foam
Yes

Water

Public
Yes

Property Features

Storage
Yes

Fence

Wood
Yes

Road Type

Paved
Yes

Fenced Storage

No
Yes

Lot Features

Adjacent to Alley
Yes
North/South Exposure
Yes

Main Cooling

Ceiling Fan(s)
Yes
Central Air
Yes
Evaporative Cooling
Yes

Main Heating

Forced Air
Yes
Gas Pac
Yes

Water Heater

Electric
Yes

Terms

Cash
Yes
Conventional
Yes

Accessibility Option

None
Yes

Landscape - Front

Decorative Gravel
Yes
Desert Plantings
Yes
Natural Desert
Yes

Landscape - Rear

Decorative Gravel
Yes
Grass
Yes
Shrubs
Yes
Trees
Yes

Business Location

Free Standing Bldg
Yes

Freeway/Highway

Over 5.1 Miles
Yes

Traffic Count

Unknown
Yes

Possession

Immediate
Yes

Property Disclosures

Inventory List
Yes
Lead Based Paint
Yes
Leases
Yes
Military Airport Vct
Yes
Seller Prop Disclosure
Yes

Special Conditions

None
Yes
Listing Office: Tierra Antigua Realty
IDX
Last Updated: December - 23 - 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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