1423 N Venice Avenue, Tucson, AZ 85712 (MLS# 22417043)

$1,410,000

1423 N Venice Avenue
Tucson, AZ 85712
MLS# 22417043
Status: Closed
8658 sqft

1 / 36

Property Description
Midtown Garden Style Venice Arms Apartment Complex with 6% cap rate. Exterior brick construction, (8) one-bedroom units and (4) two-bedroom units, plus on-site laundry facilities. Each unit has own mini-splits, tile floors, small patio area and great central location. Each tenant gets one carport space. Storage room could be converted to a studio unit or repurposed as rentable storage space.10 minutes to the University of Arizona

Details

Maps

Documents

Address Information

Country: USA

Street #: 1423

Direction: N

Street Name: Venice

Suffix: Avenue

State/Province: AZ

Zip Code: 85712

County: Pima

Location, Tax & Legal

Tax Year: 2023

Taxes: 6271.98

Assessments: 0

Legal Description: Speedway N150′ Lots 1 & Lot 2 S20′ N190′ W2 Lot 2 Blk 10

Municipality/Zoning: Tucson – R2

Fire Protection: Included in Taxes

FEMA Flood Zone: No

Municipal Flood Zone: No

Tax Code: 122-12-184A

Area: Central

Contract Information

Short Sale: No

Current Price: $1,410,000

Sold Price: $1,410,000

Listing Date: 2024-07-10

Status: Closed

Status Change Info

Off Market Date: 2024-10-28

Sold Price/SqFt: 162.86

Lot Sz Sold Prc/SqFt: 39.47

Financing: Cash Owner Carryback

Pending Date: 2024-11-20

Sold Date: 2024-12-05

Sold Price: $1,410,000

Showing Information

Directions: Speedway / Swan (West) Venice ( North) to Address
DO NOT DISTURB ANY TENANTS

General Property Information

Property Sub-Type: Apartment

Construction Status: Existing

# Units: 12

Lot Dimensions: irr

Lot Acres: 0.82

Lot Sqft: 35719

Multi-Tenant: Yes

Lot Size Source: Assessor

Source of SqFt: Assessor

List Price/SqFt: 167.48

Lot Size Price/SqFt: 40.59

Year Built: 1963

Combined SqFt: 8658

Electric

Electric Company: TEP

Income

Vacancy Loss: 3600

Gross Scheduled Rent: 145200

Gas

Natural: 1

Analysis

Vacancy Rate %: 2.48

Cap Rate %: 6

Construction

Brick: 1

Expenses

Contract Services: 1200

Gas/Electric: 545

Insurance: 4523

Management: 9600

Taxes/Assessments: 6272

Water/Sewer: 7200

Other Expenses: 14400

Sewer

Connected: 1

Unit Information

Apartment: Low Rise

Apartment Unit Information

# of Units/1 BR: 8

Avg Mo Rent/1 BR: 950

# of Units/2 BR: 4

Avg Mo Rent/2 BR: 1100

Roof

Built-Up: 1

Water

Public: 1

Property Features

Smoke Detector: 1

Fence

Chain Link: 1

Slump Block: 1

Wood: 1

Road Type

Gravel: 1

Fenced Storage

No: 1

Lot Features

North/South Exposure: 1

Main Cooling

Heat Pump: 1

Other: Mini Split

Main Heating

Forced Air: 1

Natural Gas: 1

Water Heater

Natural Gas: 1

Terms

Cash: 1

Conventional: 1

Submit With Offer

Proof of Funds: 1

Security

Alarm Installed: 1

Sold Info

Est. Closing Date: 2024-12-05

Seller Concessions: 0

Seller Paid Repairs: 0

Landscape – Front

Low Care: 1

Landscape – Rear

Low Care: 1

Parking

# Covered Parking: 12

Freeway/Highway

2.1 – 5 Mile: 1

Traffic Count

Unknown: 1

Possession

Negotiable: 1

Restrictions

CC&R: 1

Deed: 1

Property Disclosures

Military Airport Vct: 1

Unknown: 1

Special Conditions

None: 1

Remarks Misc

Geo Lat: 32.240519

Geo Lon: -110.895286

Property Features

Property Features: Smoke Detector

Construction: Brick

Roof: Built-Up

Fenced Storage: No

Main Cooling: Heat Pump

Main Heating: Forced Air; Natural Gas

Water Heater: Natural Gas

Gas: Natural

Sewer: Connected

Water: Public

Security: Alarm Installed

Fence: Chain Link; Slump Block; Wood

Landscape – Front: Low Care

Landscape – Rear: Low Care

Road Type: Gravel

Lot Features: North/South Exposure

Traffic Count: Unknown

Terms: Cash; Conventional

Possession: Negotiable

Submit With Offer: Proof of Funds

Property Disclosures: Military Airport Vct; Unknown

Special Conditions: None

Restrictions: CC&R; Deed

Listing Documents

Lead Paint Discl

Listing Office: Tierra Antigua Realty

Last Updated: December – 26 – 2024

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