244 W Flores Street

    Tucson, AZ 85705
    • $392,000
    • STATUS: Active
    • ID#: 21829562
    Price Reduced
    UPDATED: 38 min ago
    $392,000
    • 0
      BEDS
    • 0.41
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 5,266
      SQFT
    • $74
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1950
    County:
    Area:

    School Ratings & Info

    Courtesy of Aag Realty.

    Description

    Very high cap rate investment property with huge opportunity to increase NOI. 14 unit property listed at $28,000 a unit. This property historically has operated at 90% occupancy but are currently at 80% because of a recent management change. Proforma numbers are very similar to actual number. Rent currently includes utilities. Call agent for current rent roll and 2018 actuals. The 14-unit(244 Flores) and 20-unit (255 Flores) properties can be purchased individually, or together for a total of 34 units. Located in Opportunity Zone, which offers significant potential tax benefits (https://www.azcommerce.com/arizona-opportunity-zones/)Grant Road is undergoing significant improvement in this area, most of which is completeOnly 2 miles from downtown Tucson anf U of A

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    © 2018 MLS of Southern Arizona. All rights reserved. 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. Information is deemed reliable but is not guaranteed accurate by the MLS or Long Realty - The Vallee Gold Team. Data last updated: 2018-12-11T09:06:40.14.
    www.valleegoldteam.com/homes/89153196

    244 W Flores Street Tucson, AZ 85705

    • Price: $392,000
    • Status: Active
    • Updated: 38 min ago
    • ID#: 21829562
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.41
    Acres
    5,266
    SQFT
    $74
    $/SQFT
    1950
    Built
    Neighborhood:
    Central
    County:
    Pima
    Area:
    Central
    Property Description
    Very high cap rate investment property with huge opportunity to increase NOI. 14 unit property listed at $28,000 a unit. This property historically has operated at 90% occupancy but are currently at 80% because of a recent management change. Proforma numbers are very similar to actual number. Rent currently includes utilities. Call agent for current rent roll and 2018 actuals. The 14-unit(244 Flores) and 20-unit (255 Flores) properties can be purchased individually, or together for a total of 34 units. Located in Opportunity Zone, which offers significant potential tax benefits (https://www.azcommerce.com/arizona-opportunity-zones/)Grant Road is undergoing significant improvement in this area, most of which is completeOnly 2 miles from downtown Tucson anf U of A
    Property Features

    Analysis Cap Rate Percent 10.81 Analysis Exp Percent Of Gross 52.43 Analysis Exp Sqft 8.86 Analysis Gross Rent Multi 4.40 Analysis Vacancy Rate Percent 8.50 Assessments 23940.00 Country Usa Expenses Admin Expenses 0.00 Expenses Captial Expenses 0.00 Expenses Contract Services 0.00 Expenses Figures Presented Proforma Expenses Gas Electric 12600.00 Expenses Insurance 3384.00 Expenses Maintenance Supplies 8784.00 Expenses Management 6148.80 Expenses Other Expenses 0.00 Expenses Resident Manager 0.00 Expenses Taxes Assessments 3163.20 Expenses Water Sewer 12600.00 Fire Protection Included in Taxes Income Adjusted Gross 89040.00 Income Gross Scheduled Rent 96000.00 Income Net Opp Income 42360.00 Income Other Income 1200.00 Income Total Expenses 46680.00 Income Vacancy Loss 8160.00 Lot Dimensions irregular Lot Sqft 18012.00 Municipality Zoning Tucson - C2 Property Sub Type Apartment Short Sale No Source Of Sqft Assessor Tax Year 2017 Taxes 3730.12

    Listing provided courtesy of Aag Realty. Listing information © 2018 MLS of Southern Arizona.




    © 2018 MLS of Southern Arizona. All rights reserved. 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. Information is deemed reliable but is not guaranteed accurate by the MLS or Long Realty - The Vallee Gold Team. Data last updated: 2018-12-11T09:06:40.14.
     
    Long Realty - The Vallee Gold Team
    1890 East River Road
    Tucson AZ, 85718
    Courtesy of Aag Realty.
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