2540 E Copper Street, Tucson, AZ 85716

$1,170,000
Property Type: Commercial Square Footage: 5,284 Lot Size (sq. ft.): 85 Status: Closed
Current Price: $1,170,000 List Date: 4/18/2023 Last Modified: 12/22/2024

Overview

Description

Introducing a fantastic investment opportunity - an 8 unit apartment complex! This property features a mix of 3 upgraded 2 bedroom 1 bathroom units and 5 cozy 1 bedroom 1 bathroom units, offering a range of options for potential tenants. The complex is well-maintained and located in a desirable central area. Each unit boasts modern amenities and plenty of natural light, providing a comfortable living experience for tenants.This is the perfect opportunity for investors looking to expand their real estate portfolio or first-time investors looking to get started in the industry. Don't miss out on this incredible chance to own a profitable 8 unit apartment complex.

Listing Details MLS# 22308492

Address Information

Street #
2540
Direction
E
Street Name
Copper
Suffix
Street
State/Province
AZ
Zip Code
85716
County
Pima
Country
USA

Location, Tax & Legal

Tax Code
112-07-1710
Area
Central
Tax Year
2022
Taxes
4410.81
Assessments
0
Taxes For
Building & Land
Legal Description
From Parcel:112071710 /Grant Road Park No 2 N99' Lot 3 Blk 6
Municipality/Zoning
Tucson - R2
Fire Protection
Included in Taxes
FEMA Flood Zone
TBD
Municipal Flood Zone
TBD

General Property Information

Property Sub-Type
Apartment
Year Built
1950
Lot Dimensions
Irregular
Lot Acres
0.53
Lot Sqft
14056
Lot Size Source
Assessor
Combined SqFt
5284
Source of SqFt
Assessor
List Price/SqFt
227.1
Lot Size Price/SqFt
85.37

Contract Information

Method of Title
Fee (Simple)
Short Sale
No

Status Change Info

Off Market Date
2023-04-18
Pending Date
2023-04-18
Sold Date
2023-05-03
Sold Price/SqFt
221.42
Lot Sz Sold Prc/SqFt
83.24
Financing
Cash

More Information

Showing Information

Directions
Grant/Tucson Blvd N To Copper, E To Address

Income

Gross Scheduled Rent
107760
Vacancy Loss
5388
Other Income
7380
Adjusted Gross
109752
Net Opp Income
79040

Analysis

Cap Rate %
6.58
Gross Rent Multi
10.66
Vacancy Rate %
5

Expenses

Management
8620
Water/Sewer
5940
Other Expenses
21539

Unit Information

Apartment
Low Rise

Apartment Unit Information

# of Units/1 BR
5
# of Units/2 BR
3

Sold Info

Seller Concessions
0
IDX
Listing Office: Realty Executives Arizona Territory
Last Updated: December - 22 - 2024
The data relating to real estate listings on this website comes in part from the Internet Data Exchange (IDX) program of Multiple Listing Service of Southern Arizona. 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. Listings provided by brokerages other than the listing brokerage here are identified with the MLSSAZ IDX Logo. All Information Is Deemed Reliable But Is Not Guaranteed Accurate. Listing information Copyright 2020 MLS of Southern Arizona. All Rights Reserved.

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