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2432 N Balboa Ave
Tucson, AZ 85705
Balboa Avenue and Delano Court · Multifamily Property For Sale
·
14 Units
EXECUTIVE SUMMARY
PRICE REDUCED!!! Equilibrium Realty is pleased to present a heavier renovation opportunity in a strong rental location of central Tucson. The offering consists of two properties,
Balboa Avenue, a vacant 15 unit (all one bed) property was built in 1948. Delano Court, a vacant 14 unit (mix of studio, one bed and two bed) property was built
in 1947. Both properties are permitted for all renovations required to begin leasing operations. Estimates range from $15K to $30K per unit to complete
renovations. At stabilization, value will exceed $2.5M to $3.0M. Seller is flexible to all offers.
Balboa Avenue, a vacant 15 unit (all one bed) property was built in 1948. Delano Court, a vacant 14 unit (mix of studio, one bed and two bed) property was built
in 1947. Both properties are permitted for all renovations required to begin leasing operations. Estimates range from $15K to $30K per unit to complete
renovations. At stabilization, value will exceed $2.5M to $3.0M. Seller is flexible to all offers.
PROPERTY FACTS Under Contract
| Price Per Unit | $117,857 | Apartment Style | Garden |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 13.67% | Lot Size | 0.62 AC |
| Sale Condition | Deferred Maintenance | Building Size | 6,284 SF |
| Gross Rent Multiplier | 7.13 | Average Occupancy | 7% |
| No. Units | 14 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1948 |
| Property Subtype | Apartment | Parking Ratio | 3.5/1,000 SF |
| Zoning | R-2 | ||
| Price Per Unit | $117,857 |
| Sale Type | Investment |
| Cap Rate | 13.67% |
| Sale Condition | Deferred Maintenance |
| Gross Rent Multiplier | 7.13 |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.62 AC |
| Building Size | 6,284 SF |
| Average Occupancy | 7% |
| No. Stories | 1 |
| Year Built | 1948 |
| Parking Ratio | 3.5/1,000 SF |
| Zoning | R-2 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 14 | - | 405 |
PROPERTY TAXES
| Parcel Number | 107-14-2290 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $39,803 |
PROPERTY TAXES
Parcel Number
107-14-2290
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$39,803
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