835 N Alvernon Way, Tucson, AZ 85711 (MLS# 2229800)

$2,000,000

835 N Alvernon Way
Tucson, AZ 85711
MLS# 2229800
Status: Closed
44644 sqft

1 / 2

Property Description
811&835 N. Alvernon the 2 contiguous apartment complexes are the Montclair 40 units and Aristocrat 21 units.There is a good mix of studio 1,2 & 3 bdrm units.It consists of 2 residential buildings with laundry rm&pool.Both complexes are totally enclosed for the security of the residents.Roof at montclari replaced in 1997 all hotwater heaters have been replaced & air conditioners are also new.There is an empty R-2 lot to the West,approx.38,000sqft.

Details

Maps

Documents

Address Information

Country: USA

Street #: 835

Direction: N

Street Name: Alvernon

Suffix: Way

State/Province: AZ

Zip Code: 85711

County: Pima

Location, Tax & Legal

Tax Year: 2002

Taxes: 18272

Assessments: 485

Legal Description: Speedway View Lot 13 exc E10′ Blk 6 lot 14 exc # 10′ Blk 6

Township: 14

Community: None

Range: 14

Section: 9

Municipality/Zoning: Tucson – R3

Fire Protection: Included in Taxes

Tax Code: 125-11-190B

Area: Central

Subdivision: Speedway View Addition

Status Change Info

Off Market Date: 2003-09-03

Sold Price/SqFt: 44.79

Lot Sz Sold Prc/SqFt: 18.58

How Sold: Conventional

Pending Date: 2003-06-19

Sold Date: 2003-09-03

Sold Price: $2,000,000

Showing Information

Directions: Alvernon Way/Speedway go 3 blocks South of Speedway on Alvernon

General Property Information

Lot Dimensions: Irregular

Lot Acres: 2.47

Lot Sqft: 107593

Lot Size Source: Other

List Price/SqFt: 44.8

Lot Size Price/SqFt: 18.58

Combined SqFt: 44644

Year Built: 1961

Unit Info

# of Units/Studios: 7

Avg Mo Rent/Studios: 363

# of Units/1 BR: 30

Avg Mo Rent/1 BR: 442

# of Units/2 BR: 20

Avg Mo Rent/2 BR: 551

# of Units/3 BR: 4

Avg Mo Rent/3 BR: 625

Income

Vacancy Loss: 25544

Other Income: 4500

Adjusted Gross: 339376

Total Expenses: 168455

Gross Scheduled Rent: 360420

Net Opp Income: 170921

Analysis

Gross Rent Multi: 5.89

Vacancy Rate %: 7.09

Exp/SqFt: 3.77

Exp % of Gross: 49.63

Cap Rate %: 8.54

Construction

Concrete Block: 1

Expenses

Gas/Electric: 60000

Insurance: 8726

Maintenance Supplies: 33588

Management: 16465

Resident Manager: 16465

Taxes/Assessments: 18272

Water/Sewer: 10000

Other Expenses: 4939

Sewer

Connected: 1

Water

Public: 1

Main Cooling

Central Air: 1

Main Heating

Forced Air: 1

Natural Gas: 1

Interior Features

Interior Steps: No

Terms

Cash: 1

Conventional: 1

Sold Info

Financing: 1

Property Disclosures

Lead Based Paint: 1

Military Airport Vct: 1

Miscellaneous

Master Elec Meter: Yes

Master Gas Meter: Yes

Master Water Meter: Yes

Package Available: Yes

Contract Information

Current Price: $2,000,000

Sold Price: $2,000,000

Listing Date: 2002-12-17

Status: Closed

Remarks Misc

Geo Lat: 32.2323

Geo Lon: -110.910255

Property Features

Construction: Concrete Block

Main Cooling: Central Air

Main Heating: Forced Air; Natural Gas

Sewer: Connected

Water: Public

Terms: Cash; Conventional

Property Disclosures: Lead Based Paint; Military Airport Vct

Sold Info: Financing

Listing Documents

Lead Paint Discl

Listing Office: Long Realty Company

Last Updated: October – 25 – 2024

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