This property has tremendous value add opportunity. City of Tucson Section 8 rental price for studios, as of 3.13.23, is $943 per unit.Significant improvements were made in 2022 creating lower than normal NOI so CAP is low. Value add is tremendous

Construction Frame - Stucco Fence Chain LinkShared FenceStucco Finish Landscape Front Desert PlantingsGrassLow CareShrubs Landscape Rear Low Care Parking Paved Parking Road Type Paved Roof Built-UpTile

Main Cooling Ceiling Fan(S)Window Unit(S) Main Heating BaseboardWall Space Information Ceiling Height 8Ft Space Information Door Width 3Ft Water Heater Electric

Analysis Cap Rate Percent 7.63 Analysis Gross Rent Multi 125.81 Analysis Vacancy Rate Percent 10.63 Assessments 0.00 Business Location Free Standing Bldg Country Usa Electric Electric Company Tep Expenses Captial Expenses 31148.00 Expenses Figures Presented Proforma Expenses Gas Electric 5930.61 Expenses Maintenance Supplies 21242.00 Expenses Management 9994.89 Expenses Taxes Assessments 8257.00 Expenses Water Sewer 10584.00 Fenced Storage No Fire Protection Included in Taxes Freeway Highway Over 5.1 Miles Gas None Income Adjusted Gross 15500.00 Income Gross Scheduled Rent 16000.00 Income Other Income 1200.00 Income Vacancy Loss 1700.00 Lot Dimensions 106 X 238 Lot Features North/South Exposure Lot Sqft 25228.00 Multi Tenant Yes Municipality Zoning Tucson - R3 Property Disclosures Lead Based PaintSeller Prop Disclosure Property Features Smoke Detector Property Sub Type Apartment Sewer Connected Short Sale No Source Of Sqft Assessor Special Conditions None Tax Year 2022 Taxes 8257.86 Terms CashConventionalExchangeOwner CarrySubmit Total Parking 20 Traffic Count Unknown Water City

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3052 N Alvernon Way

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3052 N Alvernon Way Tucson, AZ 85712

Property Description

Construction	Frame - Stucco
Fence	Chain Link Shared Fence Stucco Finish
Landscape Front	Desert Plantings Grass Low Care Shrubs
Landscape Rear	Low Care
Parking	Paved Parking
Road Type	Paved
Roof	Built-Up Tile

Main Cooling	Ceiling Fan(S) Window Unit(S)
Main Heating	Baseboard Wall
Space Information Ceiling Height	8Ft
Space Information Door Width	3Ft
Water Heater	Electric

Analysis Cap Rate Percent	7.63
Analysis Gross Rent Multi	125.81
Analysis Vacancy Rate Percent	10.63
Assessments	0.00
Business Location	Free Standing Bldg
Country	Usa
Electric Electric Company	Tep
Expenses Captial Expenses	31148.00
Expenses Figures Presented	Proforma
Expenses Gas Electric	5930.61
Expenses Maintenance Supplies	21242.00
Expenses Management	9994.89
Expenses Taxes Assessments	8257.00
Expenses Water Sewer	10584.00
Fenced Storage	No
Fire Protection	Included in Taxes
Freeway Highway	Over 5.1 Miles
Gas	None
Income Adjusted Gross	15500.00
Income Gross Scheduled Rent	16000.00
Income Other Income	1200.00
Income Vacancy Loss	1700.00
Lot Dimensions	106 X 238
Lot Features	North/South Exposure
Lot Sqft	25228.00
Multi Tenant	Yes
Municipality Zoning	Tucson - R3
Property Disclosures	Lead Based Paint Seller Prop Disclosure
Property Features	Smoke Detector
Property Sub Type	Apartment
Sewer	Connected
Short Sale	No
Source Of Sqft	Assessor
Special Conditions	None
Tax Year	2022
Taxes	8257.86
Terms	Cash Conventional Exchange Owner Carry Submit
Total Parking	20
Traffic Count	Unknown
Water	City