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201 W Fry Boulevard

Sierra Vista, AZ 85635
  • $5,500,000
  • STATUS: Active
  • ID#: 22216818
Price Reduced
UPDATED: 79 min ago
$5,500,000
  • 0
    BEDS
  • 1.72
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 31,797
    SQFT
  • $173
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
1957
County:
Area:

School Ratings & Info

Courtesy of Pinnacle Realty And Investment Advisors Llc.

Description

Gorgeously remodeled/updated 69 unit apartment complex located a quarter mile from Ft. Huachuca in Sierra Vista listed at a proforma 6.22% cap rate. In 2021 to present, property boasts new roof, new gym, remodeled leasing office, business center, pool, fire safety system, and muraled walls. 39 of the units received brand new kitchens, flooring, paint, fixtures, and appliances. All units were updated with new paint, flooring, and many have new PTAC AC units. 30 of the units are currently furnished with another 10 underway. Currently at 95% occupancy with an average rental rate (including RUBS) of $895 per unit. Property has to be leased month to month to keep grandfathered zoning. One of the Members of the Owner is a licensed real estate broker in AZ.

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MLS of Southern Arizona (Tucson Association of Realtors) logo Listing information Copyright 2022 MLS of Southern Arizona. All Rights Reserved. Data last updated: 2022-09-28T11:06:42.23.
The data relating to real estate listings on this website comes in part from the Internet Data Exchange (IDX) program of Multiple Listing Service of Southern Arizona. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listings provided by brokerages other than The Local Real Estate Group | Realty Executives are identified with the MLSSAZ IDX Logo. All Information Is Deemed Reliable But Is Not Guaranteed Accurate.
www.thelocalrealestategroup.com/homes/130334238
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201 W Fry Boulevard Sierra Vista, AZ 85635

  • Price: $5,500,000
  • Status: Active
  • On Site: Days
  • Updated: 79 min ago
  • ID#: 22216818
0
Beds
0
Baths
0
½ Baths
1.72
Acres
31,797
SQFT
$173
$/SQFT
1957
Built
Neighborhood:
Cochise
County:
Cochise
Area:
Cochise
Property Description
Gorgeously remodeled/updated 69 unit apartment complex located a quarter mile from Ft. Huachuca in Sierra Vista listed at a proforma 6.22% cap rate. In 2021 to present, property boasts new roof, new gym, remodeled leasing office, business center, pool, fire safety system, and muraled walls. 39 of the units received brand new kitchens, flooring, paint, fixtures, and appliances. All units were updated with new paint, flooring, and many have new PTAC AC units. 30 of the units are currently furnished with another 10 underway. Currently at 95% occupancy with an average rental rate (including RUBS) of $895 per unit. Property has to be leased month to month to keep grandfathered zoning. One of the Members of the Owner is a licensed real estate broker in AZ.
Exterior Features

Construction Frame - Stucco Fence Chain LinkStucco FinishWrought Iron Landscape Front Decorative GravelLow Care Landscape Rear None Parking Paved Parking Road Type Paved Roof Built-Up - Reflect

Interior Features

Main Cooling Ceiling Fan(S)Wall Unit(S) Main Heating Wall Space Information Ceiling Height 8Ft Water Heater Natural GasRecirculating Pump

Property Features

Accessibility Option Door LeversEntryRamped Main Level Analysis Cap Rate Percent 7.98 Analysis Exp Percent Of Gross 37.50 Analysis Exp Sqft 8.28 Analysis Gross Rent Multi 7.83 Analysis Vacancy Rate Percent 10.00 Assessments 0.00 Business Location Business Park Country Usa Electric Electric Company Sulphur Springs Expenses Admin Expenses 4500.00 Expenses Captial Expenses 13800.00 Expenses Contract Services 72000.00 Expenses Figures Presented Proforma Expenses Gas Electric 28000.00 Expenses Insurance 5823.00 Expenses Maintenance Supplies 36000.00 Expenses Management 39165.00 Expenses Other Expenses 1200.00 Expenses Resident Manager 36000.00 Expenses Taxes Assessments 8910.00 Expenses Water Sewer 18000.00 Fema Flood Zone Yes Fenced Storage No Fire Protection Included in Taxes Freeway Highway 1.1 - 2 Miles Gas Natural Green Features Energy Star Appliance Income Adjusted Gross 702351.00 Income Gross Scheduled Rent 691380.00 Income Net Opp Income 438953.00 Income Other Income 80109.00 Income Total Expenses 263398.00 Income Vacancy Loss 69138.00 Lot Dimensions Irregular Lot Features Adjacent To Wash Lot Sqft 74923.00 Multi Tenant Yes Municipal Flood Zone Yes Municipality Zoning Cochise - Gb Property Disclosures Flood PlainLeases Property Features FurnishedSmoke Detector Property Features ADACompliant Yes Property Sub Type Apartment Restrictions Cc&R Security Alarm InstalledCamerasSecurity LightsWindow Bars Sewer Connected Short Sale No Source Of Sqft Assessor Special Conditions None Tax Year 2020 Taxes 9289.00 Terms CashConventional Traffic Count Unknown Water Water Company Liberty

Listing provided by Pinnacle Realty And Investment Advisors Llc: (520) 331-8050. Listing information © 2022 MLS of Southern Arizona.


MLS of Southern Arizona (Tucson Association of Realtors) logo Listing information Copyright 2022 MLS of Southern Arizona. All Rights Reserved. Data last updated: 2022-09-28T11:06:42.23.
The data relating to real estate listings on this website comes in part from the Internet Data Exchange (IDX) program of Multiple Listing Service of Southern Arizona. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listings provided by brokerages other than The Local Real Estate Group | Realty Executives are identified with the MLSSAZ IDX Logo. All Information Is Deemed Reliable But Is Not Guaranteed Accurate.
 
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The Local Real Estate Group | Realty Executives
6760 N Oracle Road Suite 130
Tucson AZ, 85704
Courtesy of Pinnacle Realty And Investment Advisors Llc.