219 W Fort Lowell Road, Tucson, AZ 85705 (MLS# 21816042)

$1,350,000

219 W Fort Lowell Road
Tucson, AZ 85705
MLS# 21816042
Status: Closed
18148 sqft

1 / 24

Property Description
Having been purchased out of foreclosure in 2012, Westview has undergone a tremendous amount of renovation over the past several years, including replacement of all plumbing, roof replacement, exterior trim painting, resurfacing of entire parking lot, and interior unit replacements, including all flooring.
Further opportunity of undergoing unit upgrades (kitchen and bath) In order to possibly garner a higher rent than current market rates for 1 BR units in the area ($550/mo.) The complex consists of 38 spacious 1 bedroom units.

Details

Maps

Documents

Address Information

Country: USA

Street #: 219

Direction: W

Street Name: Fort Lowell

Suffix: Road

State/Province: AZ

Zip Code: 85705

County: Pima

Location, Tax & Legal

Tax Year: 2017

Taxes: 8518.07

Assessments: 77274

Legal Description: Coronado Heights Lot 2 and W2 Lot 6 Blk 7

Development Name: Coronado Heights

Municipality/Zoning: Tucson – C2

Fire Protection: Included in Taxes

FEMA Flood Zone: TBD

Municipal Flood Zone: TBD

Tax Code: 107-11-1200

Area: Central

Contract Information

Short Sale: No

Current Price: $1,350,000

Sold Price: $1,350,000

Listing Date: 2018-06-06

Status: Closed

Status Change Info

Off Market Date: 2018-08-03

Sold Price/SqFt: 74.39

Lot Sz Sold Prc/SqFt: 30.99

Financing: Other

Pending Date: 2018-10-22

Sold Date: 2018-10-29

Sold Price: $1,350,000

Showing Information

Directions: From Downtown North on Stone to Fort Lowell then West on Fort Lowell to Property which sits on the south side of the street.

General Property Information

Property Sub-Type: Apartment

Construction Status: Existing

# Units: 38

Lot Dimensions: 311.35 X 143.78

Lot Acres: 1

Total Parking: 43

Lot Sqft: 43560

Multi-Tenant: Yes

Lot Size Source: Assessor

Source of SqFt: Assessor

List Price/SqFt: 79.9

Lot Size Price/SqFt: 33.29

Year Built: 1985

Combined SqFt: 18148

Electric

Electric Company: TEP

Income

Vacancy Loss: 22572

Other Income: 18400

Adjusted Gross: 246628

Total Expenses: 68803

Gross Scheduled Rent: 250800

Net Opp Income: 177825

Gas

Natural: 1

Analysis

Gross Rent Multi: 5.47

Vacancy Rate %: 9

Exp/SqFt: 3.79

Exp % of Gross: 27.9

Cap Rate %: 13.17

Construction

Frame – Stucco: 1

Expenses

Admin Expenses: 380

Captial Expenses: 0

Contract Services: 0

Figures Presented: Proforma

Gas/Electric: 7000

Insurance: 5040

Maintenance Supplies: 15000

Management: 9865

Resident Manager: 0

Taxes/Assessments: 8518

Water/Sewer: 23000

Other Expenses: 0

Sewer

Connected: 1

Unit Information

Adult Housing: Independent Living Residences

Apartment: Low Rise

Apartment Unit Information

# of Units/1 BR: 38

Avg Mo Rent/1 BR: 475

Roof

Built-Up: 1

Water

Public: 1

Property Features

A.D.A. Compliant: Yes

Smoke Detector: 1

Fence

Block: 1

Road Type

Paved: 1

Lot Features

East/West Exposure: 1

Main Cooling

Central Air: 1

Main Heating

Heat Pump: 1

Water Heater

Electric: 1

Terms

Submit: 1

Submit With Offer

Proof of Funds: 1

Accessibility Option

Level: 1

Security

Security Lights: 1

Sold Info

Seller Concessions: 0

Landscape – Front

Low Care: 1

Landscape – Rear

Low Care: 1

Parking

Paved Parking: 1

Business Location

Multiple Locations: 1

Freeway/Highway

Access: 1

Traffic Count

Unknown: 1

Remarks Misc

Geo Lat: 32.26419

Geo Lon: -110.975018

Property Features

Property Features: Smoke Detector

Construction: Frame – Stucco

Roof: Built-Up

Main Cooling: Central Air

Main Heating: Heat Pump

Water Heater: Electric

Gas: Natural

Sewer: Connected

Water: Public

Accessibility Option: Level

Security: Security Lights

Fence: Block

Landscape – Front: Low Care

Landscape – Rear: Low Care

Road Type: Paved

Parking: Paved Parking

Lot Features: East/West Exposure

Business Location: Multiple Locations

Traffic Count: Unknown

Terms: Submit

Submit With Offer: Proof of Funds

Listing Documents

Offering Memorandum

Financial Analysis

rent roll

Listing Office: Equilibrium Realty

Last Updated: December – 10 – 2024

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