1114 E Adams Street, Tucson, AZ 85719 (MLS# 21920673)

$1,550,000

1114 E Adams Street
Tucson, AZ 85719
MLS# 21920673
Status: Closed
5733 sqft

1 / 23

Property Description
NEXT DOOR TO THE JUST COMPLETED U OF A NEW HONORS VILLAGE CAMPUS AND DORMS https://www.honors.arizona.edu/honors-village
AND JUST A COUPLE OF BLKS FROM THE U OF A MEDICAL SCHOOL/CAMPUS.AT U OF A. THIS 5 UNIT COMPLEX IS COMPOSED OF 3 BEDROOM 2 BATH UNITS. ALL UNITS RENTED FOR $1,975 PER MONTH.. PROPERTY HAS HAD A GUT REHAB WITH 5 NEW WATER METERS(SO NO UTILITY EXPENSES), CORRUGATED METAL SIDING, NEW ROOFS, KITCHENS, WASHERS/DRYERS, A/C UNITS WITH EXPOSED SPIRAL DUCTING, PRIVATE FENCED REAR YARDS, ETC. SEE PHOTOS. RENTS CUIRRENTLY ARE AT $1.72 PER SF AND AVERAGE RENTS IN THE AREA ARE $1.83 PER SFR OR $2,100 PER UNIT. SO GREAT UPSIDE

Details

Maps

Documents

Address Information

Country: USA

Street #: 1114

Direction: E

Street Name: Adams

Suffix: Street

State/Province: AZ

Zip Code: 85719

County: Pima

Location, Tax & Legal

Tax Year: 2018

Taxes: 4020.97

Assessments: 0

Legal Description: UNIVERSITY HOME LOTS 7 & 8 & W30′ LOT 6
BLK 14

Municipality/Zoning: Tucson – R3

Fire Protection: Included in Taxes

FEMA Flood Zone: No

Municipal Flood Zone: No

Tax Code: 123-15-164A

Area: Central

Contract Information

Method of Title: Fee (Simple)

Short Sale: No

Current Price: $1,550,000

Sold Price: $1,550,000

Listing Date: 2019-08-07

Status: Closed

Status Change Info

Off Market Date: 2019-10-25

Sold Price/SqFt: 270.36

Lot Sz Sold Prc/SqFt: 86.11

Financing: Cash

Pending Date: 2019-10-25

Sold Date: 2019-11-25

Sold Price: $1,550,000

Showing Information

Directions: MOUNTAIN ADAMS WEST TO ADDRESS.

General Property Information

Property Sub-Type: Apartment

Construction Status: Existing

# Units: 5

Lot Dimensions: 120X150

Lot Acres: 0.41

Total Parking: 15

Lot Sqft: 18000

Multi-Tenant: Yes

Lot Size Source: Assessor

Source of SqFt: Assessor

List Price/SqFt: 287.81

Lot Size Price/SqFt: 91.67

Year Built: 1966

Combined SqFt: 5733

Electric

Electric Company: TEP

Income

Vacancy Loss: 0

Other Income: 0

Adjusted Gross: 118500

Total Expenses: 17161

Gross Scheduled Rent: 118500

Net Opp Income: 101339

Gas

Natural: 1

Analysis

Gross Rent Multi: 13.08

Vacancy Rate %: 0

Exp/SqFt: 2.99

Exp % of Gross: 14.48

Cap Rate %: 6.54

Construction

Concrete Block: 1

Expenses

Admin Expenses: 0

Captial Expenses: 1000

Contract Services: 0

Figures Presented: Proforma

Gas/Electric: 0

Insurance: 1000

Maintenance Supplies: 2500

Management: 8640

Resident Manager: 0

Taxes/Assessments: 4021

Water/Sewer: 0

Other Expenses: 0

Sewer

Connected: 1

Apartment Unit Information

# of Units/3 BR: 5

Avg Mo Rent/3 BR: 1800

Roof

Built-Up: 1

Water

Public: 1

Fence

Block: 1

Space Information

Ceiling Height: 10ft

Road Type

Paved: 1

Fenced Storage

Yes: 1

Lot Features

Adjacent to Alley: 1

Main Cooling

Central Air: 1

Main Heating

Forced Air: 1

Natural Gas: 1

Water Heater

Natural Gas: 1

Terms

Cash: 1

Submit With Offer

Digital Signature Accepted: 1

Dual Agency Consent: 1

Earnest Check: 1

Income Property Addendum: 1

Lender Pre-Approval: 1

Loan Pre-Qualifiaction: 1

Proof of Funds: 1

Seller Title Company: BARBI STEWART- FNF

Sold Info

Seller Concessions: 0

Landscape – Front

Low Care: 1

Landscape – Rear

Low Care: 1

Parking

Free: 1

Special Conditions

None: 1

Remarks Misc

Geo Lat: 32.240304

Geo Lon: -110.954761

Property Features

Construction: Concrete Block

Roof: Built-Up

Fenced Storage: Yes

Main Cooling: Central Air

Main Heating: Forced Air; Natural Gas

Water Heater: Natural Gas

Gas: Natural

Sewer: Connected

Water: Public

Fence: Block

Landscape – Front: Low Care

Landscape – Rear: Low Care

Road Type: Paved

Parking: Free

Lot Features: Adjacent to Alley

Terms: Cash

Submit With Offer: Digital Signature Accepted; Dual Agency Consent; Earnest Check; Income Property Addendum; Lender Pre-Approval; Loan Pre-Qualifiaction; Proof of Funds

Special Conditions: None

Listing Documents

PROFORMA

Listing Office: Long Realty Company

Last Updated: December – 12 – 2024

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