1240 N 7th, Tucson, AZ 85705 (MLS# 2611287)

$2,750,000

1240 N 7th
Tucson, AZ 85705
MLS# 2611287
Status: Closed
28170 sqft

1 / 1

Property Description
Very well maintained apartment located between UofA & Pima College near downtown. Occupancy above 95% for 2005 and 100% today, individually metered except water & hot water.

Details

Documents

Address Information

Country: USA

Street #: 1240

Direction: N

Street Name: 7th

State/Province: AZ

Zip Code: 85705

County: Pima

Location, Tax & Legal

Tax Year: 2005

Taxes: 16046

Assessments: 0

Legal Description: Highland Oark Amended All of Blk 19

Township: 14

Community: None

Range: 13

Section: 1

Municipality/Zoning: Tucson – C1

Fire Protection: None

Tax Code: 115-05-0890

Area: Central

Subdivision: Highland Park Addition

Status Change Info

Off Market Date: 2006-06-01

Sold Price/SqFt: 97.62

Lot Sz Sold Prc/SqFt: 35.07

How Sold: Conventional

Pending Date: 2006-03-31

Sold Date: 2006-06-01

Sold Price: $2,750,000

Showing Information

Directions: Speedway and Stone east to 7th North to address

General Property Information

Lot Dimensions: 425 x 185

Lot Acres: 1.8

Lot Sqft: 78408

Lot Size Source: Assessor

List Price/SqFt: 102.95

Lot Size Price/SqFt: 36.98

Combined SqFt: 28170

Year Built: 1955

Unit Info

# of Units/Studios: 65

Avg Mo Rent/Studios: 370

# of Units/1 BR: 4

Avg Mo Rent/1 BR: 450

# of Units/2 BR: 3

Avg Mo Rent/2 BR: 540

Income

Vacancy Loss: 16482

Other Income: 24689

Adjusted Gross: 337847

Total Expenses: 146455

Gross Scheduled Rent: 329640

Net Opp Income: 191392

Analysis

Gross Rent Multi: 8.58

Vacancy Rate %: 5

Exp/SqFt: 5.19

Exp % of Gross: 43.34

Cap Rate %: 6.59

Construction

Brick: 1

Expenses

Gas/Electric: 8922

Insurance: 1617

Maintenance Supplies: 72109

Management: 16892

Resident Manager: 16892

Taxes/Assessments: 16046

Water/Sewer: 13977

Sewer

Connected: 1

Water

Public: 1

Main Cooling

Wall Unit(s): 1

Main Heating

Electric: 1

Zoned: 1

Interior Features

Interior Steps: No

Terms

Conventional: 1

Security

None: 1

Sold Info

Financing: 1

Property Disclosures

Unknown: 1

Miscellaneous

Master Elec Meter: No

Master Gas Meter: Yes

Master Water Meter: Yes

Package Available: Yes

Contract Information

Current Price: $2,750,000

Sold Price: $2,750,000

Listing Date: 2006-03-20

Status: Closed

Property Features

Construction: Brick

Main Cooling: Wall Unit(s)

Main Heating: Electric; Zoned

Sewer: Connected

Water: Public

Security: None

Terms: Conventional

Property Disclosures: Unknown

Sold Info: Financing

Listing Office: Long Realty Company

Last Updated: October – 26 – 2024

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