4440-4550 E 29th St
Tucson, AZ 85711
Pine Tree Village Apartments · Multifamily Property For Sale · 88 Units

This 88 Plex is in a Federal Opporunity Zone in the south east central area of Tucson, near the Swan and 29th intersection. The property is a huge value add opportunity that has below market rate rents, with many units not yet upgraded including several on the upper floor needing AC's. There is more than average deferred maintenance needed. The occupancy level has now come up to about 90%. Many of the neighboring properties around it on 29th have been recently upgraded and look nicer cosmetically as well as are getting higher rents due to that. Unit Composition: 56 2/1's @ $575/mo. Avg. Rent 32 1/1/'s @ $500/mo. Avg. Rent The Pine Tree Village Apartments were built in '79 and consists of 12 identical, two story buildings that have renters in them, plus two more buildings that are on site laundry facilities, one of which is operational. They were constructed of wood frame and stucco with flat roofs and are situated on a 3.04-acre parcel. The property features 56 x 2/1 units about 750/ft. and 32 x 1/1 units that are about 500/ft. Each unit is individually metered for electricity and have individual hot water heaters. Unit interiors feature air conditioning in some (window units in many or most on the top level), large closets and all electric kitchens equipped with range/oven and refrigerator. They all have patios and balconies and have ample off street parking. Pine Tree Village’s location provides convenient access to Tucson employment, schools, parks and recreation. The Davis-Monthan Air Force Base is located less than a mile away. In addition, neighborhood conveniences and services are located near the property, including the El Con Center Mall, which has numerous dining options and is home to Century 20 El Con and XD Movie Theater. Pine Tree Village’s location provides convenient access to Tucson employment, schools, parks and recreation. Income = $509,076/Yr. __________________ $41,923/mo. in Oct. '19 x 12 = $503,076/yr. + $6,000/yr. additional income from the laundry room facility. Expenses = $194,753/Yr. (If adding in for 8% Mgt.) _________________________ Insurance - $18,821/yr. Utilities - $60,000/yr. (owner pays water only while renters pay the electric) Tax - $39,686/yr. ('19) Maintenance & Cleaning - $36,000/yr. (3k/mo.) Property Mgt. - 0 Self Mng'd or *$40,246 @ 8% Gross Rents There are two on site pools one is being filled and then turned into an on site office There are two on site laundry rooms but one has been closed and turned into a storage unit. The laundry room is said to generate $500/mo. of profit. AC- yes on bottom units, swamp coolers or window units at top are to be upgraded. Private Fenced Yards - No only patio's and balcony's Covered parking - No Size- 750/ft. for 2/1's and 450-500/ft. for the 1/1's Listing Details for 4440 E 29th Street This data may not match public records. Learn more. Interior Features, Exterior Features, Taxes / Assessments Heating & Cooling Air Conditioning Type: Package Heating Type: Package Exterior Information Foundation Type: Concrete Construction Type: Steel/Wood Exterior Wall: Concrete Stucco Roof Covering Type: Built Up Composition Roof Shape Type: Built Up Composition Building Type: Retail Assessor Information Assessment Year: 2017 Tax Area: 0150 Property / Lot Details Property Information Subdivision Name: TELESCO TERRACE Living Sq. Ft: 4,364 Ground Floor Sq. Ft: 2,182 Building Sq. Ft: 4,364 # of Stories: 2 Stories Type: 2 Legal Description: TELESCO TERRACE LOTS 1 THRU 12 Lot Information # of Buildings: 14 Land Sq. Ft: 132,489 Legal Lot Number: 1 School Tax District: TUCSON UNIFIED Municipality Name: TUCSON UNIFIED Land Use Code: Apartment Acres: 3.0415 Zoning Code: R-3 County Use Description: APTS 25-99 UNITS-MULT RES-2 ST State Use Description: APTS 25-99 UNITS-MULT RES-2 ST