2620 N 14th Avenue

    Tucson, AZ 85705
    • $750,000
    • STATUS: Closed
    • ID#: 21820992
    Sold - 09/01/2018
    $750,000
    SOLD - 09/01/2018
    • 0
      BEDS
    • 1.06
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 11,039
      SQFT
    • $68
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1950
    County:
    Area:

    School Ratings & Info

    Courtesy of Aag Realty.

    Description

    High cap rate investment property with huge opportunity to increase NOI and the seller will carry! Actuals are better than the proforma! 16 casitas and 3 mobile homes for a total of 19 units right across the street from an elementary school. Capital expenditures in 2015, 2016 and 2017 include, flooring, drywall repair, painting, kitchen repairs, bathroom renovations, roof repairs, and plumbing repairs totaling over $100,000. Leases currently have all utilities included in rent price but the properties electric and gas are individually metered. Great opportunity have tenants put utilities in their own name to increase NOI. Current 2, 3 and 4 bedroom rents are not at market prices. Great opportunity to increase rents. Seller is a licensed real estate broker in the state of Arizona.

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    © 2018 MLS of Southern Arizona. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Tierra Antigua Realty - RJ Homes Team. Data last updated: 2018-11-14T23:06:50.603.
    www.rjhomes.com/homes/86213378

    2620 N 14th Avenue Tucson, AZ 85705

    • Price: $800,000
    • Status: Closed
    • Updated: 38 min ago
    • ID#: 21820992
    0
    Beds
    0
    Baths
    0
    ½ Baths
    1.06
    Acres
    11,039
    SQFT
    $68
    $/SQFT
    1950
    Built
    Neighborhood:
    Central
    County:
    Pima
    Area:
    Central
    Property Description
    High cap rate investment property with huge opportunity to increase NOI and the seller will carry! Actuals are better than the proforma! 16 casitas and 3 mobile homes for a total of 19 units right across the street from an elementary school. Capital expenditures in 2015, 2016 and 2017 include, flooring, drywall repair, painting, kitchen repairs, bathroom renovations, roof repairs, and plumbing repairs totaling over $100,000. Leases currently have all utilities included in rent price but the properties electric and gas are individually metered. Great opportunity have tenants put utilities in their own name to increase NOI. Current 2, 3 and 4 bedroom rents are not at market prices. Great opportunity to increase rents. Seller is a licensed real estate broker in the state of Arizona.
    Property Features

    Analysis Cap Rate Percent 10.00 Analysis Vacancy Rate Percent 10.00 Assessments 30855.00 Country Usa Expenses Admin Expenses 0.00 Expenses Captial Expenses 0.00 Expenses Contract Services 0.00 Expenses Figures Presented Proforma Expenses Gas Electric 14250.00 Expenses Insurance 6648.00 Expenses Maintenance Supplies 16080.00 Expenses Management 10854.00 Expenses Resident Manager 0.00 Expenses Taxes Assessments 4320.00 Expenses Water Sewer 14250.00 Fire Protection Included in Taxes Income Adjusted Gross 144720.00 Income Gross Scheduled Rent 160800.00 Income Net Opp Income 78318.00 Income Vacancy Loss 16080.00 Lot Dimensions irregular Lot Sqft 45975.00 Municipality Zoning Tucson - C2 Property Sub Type Apartment Short Sale No Source Of Sqft Assessor Tax Year 2017 Taxes 3573.87 Terms CashAssumptionOwner CarryConventional

    Listing provided courtesy of Aag Realty. Listing information © 2018 MLS of Southern Arizona.




    © 2018 MLS of Southern Arizona. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Tierra Antigua Realty - RJ Homes Team. Data last updated: 2018-11-14T23:06:50.603.
     
    Tierra Antigua Realty - RJ Homes Team
    7423 E Tanque Verde Rd
    Tucson AZ, 85715
    Courtesy of Aag Realty.