multifamily property for sale 1435 e...

LONG REALTY COMPANYLONG REALTY COMPANY // 520 .548 .4321 // 1890 E R IVER RD , TUCSON, AZ 85718 // WWW.COMMERCIALTUCSONREALESTATE .COM

M U L T I F A M I L Y P R O P E R T Y F O R S A L EM U L T I F A M I L Y P R O P E R T Y F O R S A L E

C H R I S T O P H E RC H R I S T O P H E RI T U L EI T U L E

D . 5 2 0 . 5 4 8 . 4 3 2 1c h r i s . i t u l e @ g m a i l . c o m

1435 E BENSON HWY1435 E BENSON HWYT U C S O N , A Z 8 5 7 1 4T U C S O N , A Z 8 5 7 1 4


Executive SummaryExecutive SummaryC H R I S T O P H E RC H R I S T O P H E R

I T U L EI T U L ED . 5 2 0 . 5 4 8 . 4 3 2 1

c h r i s . i t u l e @ g m a i l . c o m

OFFERING SUMMARY

Sale Price: $646,000

Number Of Units: 22

Cap Rate: 12.0%

NOI: $77,555

Lot Size: 1.08 Acres

Building Size: 4,894

Zoning: C-2

Price / SF: $132.00

High yield investment opportunity. 16 unit motel with 6 mobile homes all rented monthly. Property value is based on actual income and a 46% expensepro forma with a 4% vacancy. $98k in capital improvements in 2017. New flooring, renovated kitchens and bathrooms, roof repairs, electric repairs,and plumbing repairs.

PROPERTY OVERVIEW

PROPERTY HIGHLIGHTS

• 12% Cap Rate

• Low Vacancy

• Value Based on Actual Income

PROPERTY FOR SALE1435 E BENSON HWY1435 E BENSON HWYT U C S O N , A Z 8 5 7 1 4T U C S O N , A Z 8 5 7 1 4


Additional PhotosAdditional PhotosC H R I S T O P H E RC H R I S T O P H E R

I T U L EI T U L ED . 5 2 0 . 5 4 8 . 4 3 2 1




Financial SummaryFinancial SummaryC H R I S T O P H E RC H R I S T O P H E R

I T U L EI T U L ED . 5 2 0 . 5 4 8 . 4 3 2 1


INVESTMENT OVERVIEW

Price $646,000Price per Unit $29,363GRM 4.2CAP Rate 12.0%

OPERATING DATA

Gross Scheduled Income $155,100Other Income -Total Scheduled Income $155,100Vacancy Cost $6,359Gross Income $148,740Operating Expenses $71,185Net Operating Income $77,555



Income & ExpensesIncome & ExpensesC H R I S T O P H E RC H R I S T O P H E R

I T U L EI T U L ED . 5 2 0 . 5 4 8 . 4 3 2 1


INCOME SUMMARY PER UNIT

Gross IncomeGross Income $148,740$148,740 $6,760$6,760

EXPENSE SUMMARY PER UNIT

General & Admin $1,318 $59Leasing & Marketing $1,861 $84Repairs & Maintenance $12,951 $588Contract Services / Landscaping $1,784 $81Utilities $31,020 $1,410Property Taxes $4,992 $226Property Insurance $3,300 $150Management Fee $12,408 $564Reserves $1,551 $70

Gross ExpensesGross Expenses $71,185$71,185 $3,235$3,235

Net Operating IncomeNet Operating Income $77,555$77,555 $3,525$3,525



Rent RollRent RollC H R I S T O P H E RC H R I S T O P H E R

I T U L EI T U L ED . 5 2 0 . 5 4 8 . 4 3 2 1


UNITNUMBER

UNITBED

UNITBATH

CURRENTRENT

1 1 1 $600

2 0 1 $350

3 0 1 $500

4 1 1 $600

5 1 1 $600

6 1 1 $600

7 1 1 $600

8 0 1 $500

9 0 1 $500

10 0 1 $500

11 0 1 $500

12 0 1 $500

14 0 1 $500

15 0 1 $500

16 1 1 $600

17 1 1 $600

A - Mobile Home 2 1 $650

B - Mobile Home 2 1 $575

C - Mobile Home 2 1 $800



Rent RollRent RollC H R I S T O P H E RC H R I S T O P H E R

I T U L EI T U L ED . 5 2 0 . 5 4 8 . 4 3 2 1


UNITNUMBER

UNITBED

UNITBATH

CURRENTRENT

D - Mobile Home 2 1 $750

E - Mobile Home 2 1 $800

F - Mobile Home 2 1 $800

Totals/AveragesTotals/Averages $12,925$12,925



Location MapsLocation MapsC H R I S T O P H E RC H R I S T O P H E R

I T U L EI T U L ED . 5 2 0 . 5 4 8 . 4 3 2 1




Demographics MapDemographics MapC H R I S T O P H E RC H R I S T O P H E R

I T U L EI T U L ED . 5 2 0 . 5 4 8 . 4 3 2 1


POPULATION 1 MILE 3 MILES 5 MILES

Total population 9,233 105,205 250,065

Median age 29.3 29.9 30.0

Median age (male) 29.3 29.2 29.2

Median age (Female) 29.2 30.5 31.1

HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES

Total households 2,934 32,876 83,297

# of persons per HH 3.1 3.2 3.0

Average HH income $38,516 $39,163 $43,762

Average house value $112,196 $117,137 $137,034

* Demographic data derived from 2010 US Census


multifamily property for sale 1435 e...

Documents