APARTMENT OFFERING. B u e t t e D e R o u s s e. Buette DeRousse. S A L E S P R I C E - U n p r i c e d. Property Highlights: 1811 E.

Size: px

Start display at page:

Download "APARTMENT OFFERING. B u e t t e D e R o u s s e. Buette DeRousse. S A L E S P R I C E - U n p r i c e d. Property Highlights: 1811 E."

Osborne Parker
5 years ago
Views:

1 APARTMENT OFFERING S A L E S P R I C E - U n p r i c e d Property Highlights: Property Location: Northcentral Tucson 1811 E. Blacklidge Drive Units: 30 Units: (1BD/1BA) Type: Garden Apartment Total Square Feet: ± 14,400/SF Total Acres: ± 1.12 (One Parcel) Occupancy: 100% Property Highlights: Supreme Location 100% Occupied Strong Rental Market Maximum Curb Appeal Strong Rental History Pool, Laundry Facility Well Maintained Excellent ROI Actual Financials Turnkey Investment

Property & Area Descriptions P r o p e r t y D e s c r i p t i o n The Campbell Plaza Apartments are situated in northcentral Tucson on the north side of Blacklidge Drive at Campbell Avenue.

2 Property & Area Descriptions P r o p e r t y D e s c r i p t i o n The Campbell Plaza Apartments are situated in northcentral Tucson on the north side of Blacklidge Drive at Campbell Avenue. Campbell Avenue is a major arterial, spanning from Broadway Boulevard to Skyline Drive into the exclusive foothills of Tucson approximately eight miles north. The property is situated a short bike ride from the University of Arizona just ½ block west of the intersection of Blacklidge Drive and Campbell Avenue. The Campbell Plaza Apartment s location provides convenient access to Tucson bus lines, the University of Arizona, high demand retail, employment, schools, parks and recreation. Built in 1976, the Campbell Plaza Apartments consist of 30 onebedroom units in 6 single-story buildings totaling approximately 14,400 rentable square feet on approximately 1.12 acres. The property enjoys superb curb appeal, attractive low maintenance construction, pool, laundry facility, landscaping and an onsite rental office. The parking area includes security lighting and has been resurfaced and is in excellent condition for future years. The kitchens in several of the units have been upgraded to achieve higher rents. Each unit is approximately 480/S.F. equipped with low cost evaporative cooling, refrigerator, cable hookup, and semiprivate courtyard patio. Select units are equipped with AC units and ceiling fans. Many of the current tenants have resided at the property for more than ten years. Historically, the Campbell Plaza Apartment complex has been home to quiet singles and couples, nurses, social workers, cooks, chefs, retirees and graduate students. A r e a D e s c r i p t i o n The nearby University of Arizona serves as a focal point of the community, offering a full calendar of performances and events, from collegiate sports to world-class performing arts. The University of Arizona is the largest employer in the greater Tucson area, with approximately 14,000 jobs and a payroll in the range of $600 million. A variety of popular retail outlets are within walking distance to the east of the property near the intersection of Glenn Street and Campbell Ave. An Albertson s grocery store is located across the street from the property for added convenience. Nearby retailers and employers include Ace Hardware, Casa Molina, Sauce, Beyond Bread, Pastiche, Chicago Pizza, Rubios, Five Guys, Ross, Starbuck s and an array of other popular businesses.

Comparable Sales Subject Property 30 Units Subject On Market 1811 E.

Water Street $1,275,000 Sale Price Year Built 1976 $53,125 $ Per Unit $92

2 Mountain View Gardens 28 Units Sold March, 2018 1646 N Mountain View

Fort Lowell 13 Units Sold March, 2018 1435 E.

3 Comparable Sales Subject Property 30 Units Subject On Market 1811 E. Blacklidge Drive $Unpriced List Price Year Built 1976 $Unpriced $ Per Unit $Unpriced $ Per Sq. Ft. 1 Palo Verde Plaza 24 Units Sold March, E. Water Street $1,275,000 Sale Price Year Built 1976 $53,125 $ Per Unit $92 $ Per Sq. Ft. 2 Mountain View Gardens 28 Units Sold March, N Mountain View Avenue $1,750,000 Sale Price Year Built 1983 $62,500 $ Per Unit $51 $ Per Sq. Ft. 3 Fort Lowell 13 Units Sold March, E. Fort Lowell Road $875,000 Sale Price Year Built 1972 $67,300 $ Per Unit $72 $ Per Sq. Ft. 4 7 th Avenue - 12 Units Sold January, N. 7 th Avenue $800,000 Sale Price Year Built 1954 $66,667 $ Per Unit $106 $ Per Sq. Ft.

4 Unit Mix & Financial Analysis Executive Summary Units: 30 Built: 1976 Price: Unpriced Price/SF: Unpriced Price/Unit: Unpriced Total SF: 14,400 Market Rent: $545 Average Rent/SF: $1.10 Metering: Individual Lot Size: 1.12 Acres Cap Rate: Market Tax Parcel: B Unit Mix & Rent Units Type Sq. Ft. Tot. SF Property Monthly Rent Annual Rent Rent /Sq. Ft. 30 1BD/1BA ,400 $545 $196,200 $1.14 Income Scheduled Market Rent $196,200 Less: Vacancy 5% -9,810 Net Rental Income $186,390 Plus: Laundry Income 1, Total Operating Income (EGI) $188,291 Expenses Accounting $ Cleaning $ Coolers $1, Electricity $4, Insurance $2, Landscaping $ Laundry Room Cleaning $ Legal $ Office Supplies $47.53 Pool $ Postage & Delivery $69.68 Processing Service $40.00 Repairs & Maintenance $1, Security Deposit Refund $ Supplies $70.27 Taxes - Property $5, Water $7, Total Expenses Jan. - Jun $27, binding agreements.

5 Property Photos Unit Summary Address: 1811 E. Blacklidge Drive, Tucson, AZ Unit SF: 480 Built: 1976 Beds/Baths: 1BD/1BA Lot Size: 1.12AC Utilities: W, E, Sewer Construction: Frame Fencing: Partial Monthly Rent: $545 Rent/SF: $1.14 Metering: Individual

6 Nearby Businesses CAMPBELL PLAZA APARTMENTS Situated in close proximity to convenient and popular businesses.

Student Housing Package 2901 & 2905 E. Blacklidge, Tucson, AZ & 2916 E. Presidio, Tucson, AZ 85716

Student Housing Package 2901 & 2905 E. Blacklidge, Tucson, AZ & 2916 E. Presidio, Tucson, AZ 85716 Property Features Sale Price $1,820,000 Price per Bed $56,876 Number of Bedrooms 32 Rentable Square Feet 12,796 CAP Rate 6.84% Property Highlights The Blacklidge & Presidio portfolio are luxury student