Tucson, Arizona 56 units situated in four, two-story, 10,000SF masonary buildings, built in 1964 around a pool and green courtyard, surrounded by open parking and...
Apartment Building - American Village Apartments
Status: Price: Bldg. Size: Units: Cap Rate: Primary Type: Sub-Type:
Active $1,795,000 57,750 SF 75 N/A Multifamily Garden/Low-Rise
Highlights
Down payment $523240 based on new financing of 75%
Seller may accommodate 1031 exchange
Seller may consider leaseback for one year
Description
56 units situated in four, two-story, 10,000SF masonary buildings, built in 1964 around a pool and green courtyard, surrounded by open parking and located on 2 acres.
24 one-bedrooms, 24 two-bedrooms, 8 three-bedrooms @ 650SF, 750SF & 950SF. Two laundry rooms, several utility and storage rooms, mature landscaping. Stabilized 2010 occupancy @92%. Individually metered for gas and electric; mstr water, WiFi & Cox basic cable.
Proposed financing based on 1.3 DCR, 75% LTV, 6.5% 25 yr amort
Situated on Roger Road frontage in the north/central section of Tucson near Oracle and River Road. Close to freeway & shopping at the Tucson Mall, Lowes & Home Depot, auto center, restaurants and schools. Most tenants from driveby and walkby traffic. Close in time to work centers, airport, university and downtown.
