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Community Golf Course Homes


$5,500,000

819 N 1st Avenue
Tucson, AZ 85719
MLS# 21825168
Status: Closed
21722 sqft




819 N 1st Avenue, Tucson, AZ 85719
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Property Description
This is a rare once in a lifetime opportunity to own prime property directly next to a major university, which is turnkey and does not need renovation. Superb existing financing must be assumed by Buyer. FNMA loan: $3,000,000 @3.99% 10 year stop (from 12/17). Non-recourse AND Assumable! Major capital improvements have been done including all new windows, HVAC units, water heater, exterior paint and trim, landscaping & security cameras. 20 ”A” units have granite, hardwood, mirrored doors on closets and dishwashers. Six units have upgraded flooring and B-level cosmetics. 15 ”B” units feature tasteful carpeting in bedroom and living area and tile or VCT in baths and kitchen. All units have modern, tasteful cosmetics. B units are easily & inexpensively converted to ”A” units. Owner/Agent

Details
Maps
Address Information
Street #: 819
Direction: N
Street Name: 1st
Suffix: Avenue
State/Province: AZ
Zip Code: 85719
County: Pima
Country: USA
Location, Tax & Legal
Tax Code: 117-03-0100
Tax Year: 2017
Taxes: 20180.61
Taxes For: Building & Land
Legal Description: Tucson Lots 8 & 9 Blk 23
Area: Central
Municipality/Zoning: Tucson – HR3
Fire Protection: Included in Taxes
FEMA Flood Zone: No
Municipal Flood Zone: No
Contract Information
Current Price: $5,250,000
List Price: $5,500,000
Listing Date: 2018-09-17
Status: Closed
Method of Title: Fee (Simple)
Short Sale: No
Status Change Info
Pending Date: 2019-01-28
Sold Date: 2019-05-22
Sold Price: 5250000
Sold Price/SqFt: 241.69
Lot Sz Sold Prc/SqFt: 286.96
Financing: Exchange
Showing Information
Directions: From Euclid and University Blvd, West on University Blvd to 1st Ave, North on 1st Ave to address on Left.
General Property Information
Dwelling Type: Apartment
# Units: 41
Multi-Tenant: Yes
Year Built: 1971
Lot Dimensions: 188 x 100
Lot Acres: 0.42
Lot Sqft: 18295
Lot Size Source: Assessor
Combined SqFt: 21722
Source of SqFt: Assessor
List Price/SqFt: 253.2
Lot Size Price/SqFt: 300.63
Remarks & Misc
Geo Lat: 32.232256
Geo Lon: -110.961479
Income
Gross Scheduled Rent: 461820
Vacancy Loss: 4618
Other Income: 120758
Adjusted Gross: 577960
Net Opp Income: 330334
Analysis
Cap Rate %: 6
Gross Rent Multi: 9.08
Vacancy Rate %: 1
Exp % of Gross: 29.5
Expenses
Figures Presented: Proforma
Other Expenses: 138432
Apartment Unit Information
# of Units/1 BR: 40
Avg Mo Rent/1 BR: 900
# of Units/2 BR: 1
Avg Mo Rent/2 BR: 1425
Electric
Electric Company: TEP
Security
Other: Gated Community
Parking
# Covered Parking: 12
Other: 10 Uncovered Spaces
Property Features
Property Features: Fire Sprinklers; Furnished; Smoke Detector; Storage
Construction: Masonry Stucco
Roof: Built-Up – Reflect
Main Cooling: AC Central; Ceiling Fans
Main Heating: Forced Air – Elec
Gas: Natural
Sewer: Connected
Security: Bars; Cameras; Security Lights
Fence: Stucco Finish; Wrought Iron
Landscape – Front: Desert Plantings; Low Care
Landscape – Rear: Desert Plantings; Low Care
Road Type: Paved
Parking: Parking Lights; Paved Parking
Terms: Assumption
Property Disclosures: Lead Based Paint; Seller Prop Disclosure


Listing Office: Bright Properties

Last Updated: February – 14 – 2021

819 N 1st Avenue, Tucson, AZ 85719 - MLS# 21825168

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Wednesday 12th of May 2021 11:45 PM