1525 N Euclid Avenue, Tucson, AZ 85719 (MLS# 21707065)

$4,250,000

1525 N Euclid Avenue
Tucson, AZ 85719
MLS# 21707065
Status: Closed
21148 sqft

1 / 22

Nice landscaping and wall surrounds the complex

Great Location 5 blocks from University of Arizona

New Cabinets, counters, tile, dishwasher, Microwave, and paint 2016

New Vanity's in bathrooms, culture marble surrounds in bathrooms.

Floorplan of 56 studios. 2 one bedroom units not shown.

Property Description
AMAZING OPPORTUNITY to own a Gorgeously remodeled (2016) 58 unit apartment complex less than 5 blocks to the University of Arizona. Fully leased through July 2018 (Yes, 2018!!). Each unit had new hardwood cabinets, granite counter tops, porcelain tile, paint, dishwasher, Microwave & electrical fixtures installed during 2016. New Clubhouse with leasing office and laundry room built in 2016. New block walls and metal gates installed 2016. Swimming pool, turf, and landscaping updated 2016. Complex built with concrete block exterior walls and concrete floors between units (except in bathrooms (plumbing). New Master Lease starting 8/1/2017. Numbers presented reflect new master lease. One of members of the Seller is AZ licensed broker. Please do not go on the property or disturb tenants.

Details

Maps

Address Information

Street #: 1525

Direction: N

Street Name: Euclid

Suffix: Avenue

State/Province: AZ

Zip Code: 85719

County: Pima

Country: USA

Location, Tax & Legal

Tax Code: 123-15-101A

Comparable Only Listing: No

Tax Year: 2016

Taxes: 25386

Legal Description: UNIVERSITY HOME BLK 9 EXC W116.7′ S157.5’& SPNDRL NW COR & EXC W182.41′ E282.41′ S170′ & EXC E100′ S115′ & SPNDRL NE COR

Area: Central

Subdivision: University Home Addition

Township: 14

Range: 14

Section: 6

Municipality/Zoning: Tucson – O3

Fire Protection: Included in Taxes

Community: None

Contract Information

Current Price: $4,250,000

Sold Price: $4,250,000

Listing Date: 2017-03-13

Status: Closed

Co-Op Fee: 2.5%

Distressed Info: None

Status Change Info

Off Market Date: 2017-04-17

Pending Date: 2017-06-23

Sold Date: 2017-08-09

Sold Price: $4,250,000

Sold Price/SqFt: 200.96

Lot Sz Sold Prc/SqFt: 65.92

How Sold: Conventional

Showing Information

Directions: From Speedway and Euclid. North to Address. Located on SW Corner of Euclid and Lee.

General Property Information

Lot Dimensions: Irregular

Lot Acres: 1.48

Lot Sqft: 64469

Lot Size Source: Assessor

Combined SqFt: 21148

Year Built: 1978

List Price/SqFt: 200.96

Lot Size Price/SqFt: 65.92

Remarks & Misc

Geo Lat: 32.241267

Geo Lon: -110.960245

Unit Info

# of Units/Studios: 56

Avg Mo Rent/Studios: 750

# of Units/1 BR: 2

Avg Mo Rent/1 BR: 750

# of Units/Other: 1

Avg Mo Rent/Other: 112.5

Analysis

Cap Rate %: 9.37

Gross Rent Multi: 8.12

Exp/SqFt: 5.93

Exp % of Gross: 23.95

Income

Gross Scheduled Rent: 522000

Other Income: 1400

Adjusted Gross: 523400

Total Expenses: 125370

Net Opp Income: 398030

Expenses

Admin Expenses: 750

Capital Expenses: 5000

Contract Services: 8400

Insurance: 7675

Maintenance Supplies: 24000

Management: 52200

Taxes/Assessments: 25385

Other Expenses: 1960

Figures Presented: Proforma

Interior Features

Interior Steps: Yes

Miscellaneous

Master Water Meter: Yes

Package Available: Yes

Property Features

Construction: Concrete Block

Main Cooling: Central Air

Main Heating: Electric; Forced Air

Sewer: Connected

Water: City Water

Neighborhood Features: Gated Community

Terms: Cash; Conventional

Property Disclosures: Unknown

Listing Office: Tucson Integrity Realty, LLC

Last Updated: April – 02 – 2020

1525 N Euclid Avenue, Tucson, AZ 85719 - MLS# 21707065

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