219 W Fort Lowell Road, Tucson, AZ 85705 (MLS# 21816042)

$1,350,000

219 W Fort Lowell Road
Tucson, AZ 85705
MLS# 21816042
Status: Closed
18148 sqft

1 / 24

Property Description
Having been purchased out of foreclosure in 2012, Westview has undergone a tremendous amount of renovation over the past several years, including replacement of all plumbing, roof replacement, exterior trim painting, resurfacing of entire parking lot, and interior unit replacements, including all flooring. Further opportunity of undergoing unit upgrades (kitchen and bath) In order to possibly garner a higher rent than current market rates for 1 BR units in the area ($550/mo.) The complex consists of 38 spacious 1 bedroom units.

Details

Documents

Address Information

Street #: 219

Direction: W

Street Name: Fort Lowell

Suffix: Road

State/Province: AZ

Zip Code: 85705

County: Pima

Country: USA

Location Tax Legal

Tax Code: 107-11-1200

Area: Central

Contract Information

Current Price: $1,350,000

Sold Price: $1,350,000

Listing Date: 2018-06-06

Status: Closed

Short Sale: No

Status Change Info

Off Market Date: 2018-08-03

Pending Date: 2018-10-22

Sold Date: 2018-10-29

Sold Price: $1,350,000

Sold Price/SqFt: 74.39

Lot Sz Sold Prc/SqFt: 30.99

Financing: Other

General Property Information

Property Sub-Type: Apartment

Construction Status: Existing

# Units: 38

Total Parking: 43

Multi-Tenant: Yes

Year Built: 1985

Lot Dimensions: 311.35 X 143.78

Lot Acres: 1

Lot Sqft: 43560

Lot Size Source: Assessor

Combined SqFt: 18148

Source of SqFt: Assessor

List Price/SqFt: 79.9

Lot Size Price/SqFt: 33.29

Remarks Misc

Geo Lat: 32.26419

Geo Lon: -110.975018

Showing Information

Directions: From Downtown North on Stone to Fort Lowell then West on Fort Lowell to Property which sits on the south side of the street.

Income

Gross Scheduled Rent: 250800

Vacancy Loss: 22572

Other Income: 18400

Adjusted Gross: 246628

Total Expenses: 68803

Net Opp Income: 177825

Analysis

Cap Rate %: 13.17

Gross Rent Multi: 5.47

Vacancy Rate %: 9

Exp/SqFt: 3.79

Exp % of Gross: 27.9

Expenses

Admin Expenses: 380

Figures Presented: Proforma

Gas/Electric: 7000

Insurance: 5040

Maintenance Supplies: 15000

Management: 9865

Taxes/Assessments: 8518

Water/Sewer: 23000

Unit Information

Adult Housing: Independent Living Residences

Apartment: Low Rise

Apartment Unit Information

# of Units/1 BR: 38

Avg Mo Rent/1 BR: 475

Property Features

A.D.A. Compliant: Yes

Electric

Electric Company: TEP

Property Features

Property Features: Smoke Detector

Construction: Frame - Stucco

Roof: Built-Up

Main Cooling: Central Air

Main Heating: Heat Pump

Water Heater: Electric

Gas: Natural

Sewer: Connected

Water: Public

Accessibility Option: Level

Security: Security Lights

Fence: Block

Landscape - Front: Low Care

Landscape - Rear: Low Care

Road Type: Paved

Parking: Paved Parking

Lot Features: East/West Exposure

Business Location: Multiple Locations

Traffic Count: Unknown

Terms: Submit

Submit With Offer: Proof of Funds

Listing Office: Equilibrium Realty

Last Updated: December - 10 - 2024

219 W Fort Lowell Road, Tucson, AZ 85705 - MLS# 21816042

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