1423 N Venice Avenue, Tucson, AZ 85712 (MLS# 22417043)

$1,410,000

1423 N Venice Avenue
Tucson, AZ 85712
MLS# 22417043
Status: Closed
8658 sqft

1 / 36

Property Description
Midtown Garden Style Venice Arms Apartment Complex with 6% cap rate. Exterior brick construction, (8) one-bedroom units and (4) two-bedroom units, plus on-site laundry facilities. Each unit has own mini-splits, tile floors, small patio area and great central location. Each tenant gets one carport space. Storage room could be converted to a studio unit or repurposed as rentable storage space.10 minutes to the University of Arizona

Details

Documents

Address Information

Street #: 1423

Direction: N

Street Name: Venice

Suffix: Avenue

State/Province: AZ

Zip Code: 85712

County: Pima

Country: USA

Location Tax Legal

Tax Code: 122-12-184A

Area: Central

Contract Information

Current Price: $1,410,000

Sold Price: $1,410,000

Listing Date: 2024-07-10

Status: Closed

Short Sale: No

Status Change Info

Off Market Date: 2024-10-28

Pending Date: 2024-11-20

Sold Date: 2024-12-05

Sold Price: $1,410,000

Sold Price/SqFt: 162.86

Lot Sz Sold Prc/SqFt: 39.47

Financing: Cash Owner Carryback

General Property Information

Property Sub-Type: Apartment

Construction Status: Existing

# Units: 12

Multi-Tenant: Yes

Year Built: 1963

Lot Dimensions: irr

Lot Acres: 0.82

Lot Sqft: 35719

Lot Size Source: Assessor

Combined SqFt: 8658

Source of SqFt: Assessor

List Price/SqFt: 167.48

Lot Size Price/SqFt: 40.59

Remarks Misc

Geo Lat: 32.240519

Geo Lon: -110.895286

Showing Information

Directions: Speedway / Swan (West) Venice ( North) to Address DO NOT DISTURB ANY TENANTS

Income

Gross Scheduled Rent: 145200

Vacancy Loss: 3600

Analysis

Cap Rate %: 6

Vacancy Rate %: 2.48

Expenses

Contract Services: 1200

Gas/Electric: 545

Insurance: 4523

Management: 9600

Taxes/Assessments: 6272

Water/Sewer: 7200

Other Expenses: 14400

Unit Information

Apartment: Low Rise

Apartment Unit Information

# of Units/1 BR: 8

Avg Mo Rent/1 BR: 950

# of Units/2 BR: 4

Avg Mo Rent/2 BR: 1100

Main Cooling

Other: Mini Split

Electric

Electric Company: TEP

Parking

# Covered Parking: 12

Sold Info

Est. Closing Date: 2024-12-05

Property Features

Property Features: Smoke Detector

Construction: Brick

Roof: Built-Up

Fenced Storage: No

Main Cooling: Heat Pump

Main Heating: Forced Air; Natural Gas

Water Heater: Natural Gas

Gas: Natural

Sewer: Connected

Water: Public

Security: Alarm Installed

Fence: Chain Link; Slump Block; Wood

Landscape - Front: Low Care

Landscape - Rear: Low Care

Road Type: Gravel

Lot Features: North/South Exposure

Traffic Count: Unknown

Terms: Cash; Conventional

Possession: Negotiable

Submit With Offer: Proof of Funds

Property Disclosures: Military Airport Vct; Unknown

Special Conditions: None

Restrictions: CC&R; Deed

Listing Office: Tierra Antigua Realty

Last Updated: December - 26 - 2024

1423 N Venice Avenue, Tucson, AZ 85712 - MLS# 22417043

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