$1,150,000
Tucson, AZ 85716
MLS# 22116614
Status: Closed
6840 sqft
1 / 9
Property Description
8 unit TURN KEY apartment Complex- 2 tax codes ( 122-18-010C and 122-18-010D ) can be purchased with 2 separate conventional loans. Unit count and mix is 6, 2 bed 1 bath with fenced off yards and 2, 3 bed 1 bath units with large covered back patios. Each unit has 1 covered parking spot, Washer and Dryers for each unit, new HVAC for each unit. and more.
Details
Address Information
Street #: 1220-1234
Direction: N
Street Name: Richey
Suffix: Boulevard
State/Province: AZ
Zip Code: 85716
County: Pima
Country: USA
Location Tax Legal
Tax Code: 122-18-010C
Area: Central
Contract Information
Current Price: $1,150,000
Sold Price: $1,150,000
Listing Date: 2021-06-01
Status: Closed
Short Sale: No
Status Change Info
Off Market Date: 2021-06-27
Pending Date: 2021-06-29
Sold Date: 2021-06-29
Sold Price: $1,150,000
Sold Price/SqFt: 168.13
Lot Sz Sold Prc/SqFt: 44
Financing: Conventional
General Property Information
Property Sub-Type: Apartment
# Units: 8
Total Parking: 12
Year Built: 1952
Lot Dimensions: Irregular
Lot Acres: 0.6
Lot Sqft: 26136
Lot Size Source: Assessor
Combined SqFt: 6840
Source of SqFt: Assessor
List Price/SqFt: 168.13
Lot Size Price/SqFt: 44
Remarks Misc
Geo Lat: 32.238602
Geo Lon: -110.915641
Showing Information
Directions: From Speedway and Tucson Blvd go east then north on Richey to address
Income
Gross Scheduled Rent: 104400
Vacancy Loss: 5220
Adjusted Gross: 99180
Net Opp Income: 69426
Analysis
Cap Rate %: 5.5
Vacancy Rate %: 5
Expenses
Insurance: 2400
Maintenance Supplies: 1200
Management: 9880
Taxes/Assessments: 5758.26
Water/Sewer: 7200
Other Expenses: 3315.74
Apartment Unit Information
# of Units/2 BR: 6
Avg Mo Rent/2 BR: 1000
# of Units/3 BR: 2
Avg Mo Rent/3 BR: 1350
Electric
Electric Company: TEP
Parking
# Covered Parking: 8
Sold Info
Est. Closing Date: 2021-06-29
Property Features
Construction: Brick
Roof: Built-Up - Reflect
Fenced Storage: No
Main Cooling: Central Air
Main Heating: Forced Air; Natural Gas
Water Heater: Natural Gas
Gas: Natural
Sewer: Connected
Water: Public
Accessibility Option: None
Security: None
Fence: Block; Chain Link; Wood
Landscape - Front: Low Care
Landscape - Rear: None
Road Type: Dirt; Gravel
Traffic Count: Unknown
Terms: Cash; Conventional
Submit With Offer: Dual Agency Consent; Income Property Addendum; Lender Pre-Approval; Loan Pre-Qualifiaction
Property Disclosures: None; Unknown
Special Conditions: None
Listing Office: Realty Executives Arizona Territory
Last Updated: November - 24 - 2025
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