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3703 N 1St Ave Includes:

  • Slump Block Construction
  • Electric Metered Seperately
  • Gas Metered Seperately
  • Laundry Facilities
  • Package Available
  • Central AC
  • Pool
  • Sewer Connected
  • City Water
  • Proforma Figures Presented
  • Heat Pump Heating
  • Fire Protection Included
Monthly P&I Estimate:
Down Payment
None 05% 10% 20% 30%40%
APR5.5%$15,188$14,429$13,670$12,151$10,632$9,113
6%$16,038$15,236$14,434$12,830$11,227$9,623
6.5%$16,908$16,062$15,217$13,526$11,835$10,145
7%$17,797$16,907$16,017$14,237$12,458$10,678
7.5%$18,704$17,769$16,834$14,963$13,093$11,222
8%$19,628$18,647$17,665$15,703$13,740$11,777

Remarks: Malibu apartments is located in north central Tucson near the Tucson mall. Property offers tenants air conditioning, a play ground, swimming pool, BBQ area, extra large parking lot, very large maintenance and storage building, and laundry facilities. This is two complexes on two separate tax codes being sold as a package. Both buildings need exterior paint, seller will credit buyer 20K at close of escrow. loan is assumable w/ 750K dn, at 6.37%

Directions: North of FT Lowell on First ave west side of the street

  
3703 N 1St Ave
Tucson, Arizona 85719

Map

Central Tucson

Catalina

Property SubtypeApartment
Number of Units65
1 Br Units52
2 Br Units8
3 Br Units1
Studio Units4
Year Built 1972
Square Feet 33848
Acres1
Stories 2
ZoningTucson - 03
Tax Year2007
Capitalization Rate0.074
Gross Rent Multiplier7.83
 
Gross Income: 
Avg 1 Br Rent$446/Mo
Avg 2 Br Rent$578/Mo
Avg 3 Br Rent$950/Mo
Avg Studio Rent$385/Mo
Gross Scheduled Rents$363,672/Yr $30,306/Mo
Other Income$3600/Yr
Vacancy Loss-$25477/Yr
Adjusted Gross Income$341,795/Yr$28,483/Mo
 
Expenses: 
Contract Services$10000/Yr
Gas & Electric$11773/Yr
Taxes$23192/Yr
Insurance$19118/Yr
Maintenance & Supplies$30936/Yr
Resident Manager$20000/Yr
Water and Sewer$30000/Yr
Total Expenses$145,019/Yr $12,085/Mo
 
Net Income: 
Net Income$196,776/Yr $16,398/Mo
 
listed by:
Walsh Realty LLC

list price: $2,675,000




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