Presented by Mariposa Apartments Long Realty Company › d2 › 0_voTO9bUiwaLY6Mt0... · Sale Price...

150 E 16th St, Tucson, AZ 85701

Mariposa ApartmentsPresented by

Long Realty Company

Nine studio apartments in historic Armory Park District. Clean, quiet & well maintianed in lovelyneighborhood with trees and walking distance to downtown. Hard wood floors through out. Propertyfully security fenced, hardwood floors, beautiful grounds. Laundry on site. 10' ceilings. PRORERTYCURRENTY UNDER RENTED WITH RENTS AVERAGING $525 PER MONTH AND SHOULD BE OVER$600 PER MONTH. Seller may carry.

Price: $714,900

ARMORY PARK

FULLY SECURITY FENCED

HARDWOOD FLOORS

View the full listing here: http://www.crelisting.net/OVH4Q931g/?StepID=107

Price: $714,900

No. Units: 9

Building Size: 6,510 SF

Price/Unit: $79,433.33

Property Type: Multifamily

Property Sub-type: Garden/Low-Rise

Property Use Type: Investment

Commission Split: 2%

Cap Rate: 6%

Occupancy: 100%


Property Details

Mariposa Apartments

http://www.crelisting.net/OVH4Q931g/?StepID=107

Financial SummaryAnalysisType Proforma

Scheduled Gross Income $64,800

Effective Gross Income $61,560

Operating Expenses $19,160

Net Operating Income $42,400

Unit/Room Mix Information

Description No. Units Avg. Mo. RentSTUDIO 9 $600


Financials, Debt and Unit Mix

Mariposa Apartments

MARIPOSA APTS 150 E 16thPro Forma Tucson, AZ

Type # of Units Sq. Ft. Total S.F.Rent

per S.F.Total

Monthly Rent

Rent MARKET RENT

STUDIOS 9 0 0 $0.00 $4,600 $511 650.00$ Total/Avg. 9 503 4,524 $0.00 $4,600 $511

Income Statement

ANNUALIZED

Per Unit PROFORMA

$55,200 $6,133 70,200.00$ ($2,760) 5.0% 3,510.00$ $52,440 $5,827

$0 0.00% $52,440 $5,827

Other Income (Laundry, Pet & Misc.) $0 $0 $52,440 $5,827 66,690.00$

$0 $0 $0 $0 $265 $29 265.00$

Contract Services / Landscaping $2,400 $267 2,400.00$ Utilities $5,088 $565 5,088.00$

$7,753 $861 7,753.00$ $3,819 $424 3,819.00$ $1,800 $200 1,800.00$

$3,146 6.00% 4,001.40$

$16,518 $1,835 17,373.40$

$35,922 $3,991 49,316.60$

Value $718,432 821,943.33$ Per Unit $79,826Per Square Foot $158.80

CAP RATE Mktg ProForma 5.00% 0.06

Vacancy Loss Gross RentBad Debt/ Concessions

Stabilized Market Valuation

TOTAL VARIABLEProperty TaxesProperty InsuranceManagement Fee

NET OPERATING INCOMETOTAL EXPENSES

Gross Market Rent

OPERATING EXPENSESGeneral & AdminRepairs & Maintenance

Tony ReedLong Realty Commercial Co., A Berkshire

Hathaway Affiliate

Net Rental IncomeTOTAL INCOME

RENTAL INCOME

Leasing and Marketing

1730 N 1st Ave (Part of Multi-Property Sale)

1 Sold: $1,350,000 ($84,375/Unit)Tucson 3,865 SF Multi-Family/Apartments

2320-2380 N 4th Ave2 Sold: $1,455,000 ($132,273/Unit)Tucson 11,365 SF Multi-Family/Apartments

1211 E 9th St3 Sold: $1,145,000 ($76,333/Unit)Tucson 8,613 SF Multi-Family/Apartments

725 E 10th St4 Sold: $1,350,000 ($79,412/Unit)Tucson 10,268 SF Multi-Family/Apartments

222 S Cherry Ave5 Sold: $2,695,000 ($158,529/Unit)Tucson 16,301 SF Multi-Family/Apartments

1409-1429 E Drachman St6 Sold: $1,250,000 ($178,571/Unit)Tucson 5,759 SF Multi-Family/Apartments

1010-1016 E Lee St (Part of Multi-Property Sale)

7 Sold: $380,952 ($76,190/Unit)Tucson 4,315 SF Multi-Family/Apartments

1030 E Lee St (Part of Multi-Property Sale)


638-642 E Lester St9 Sold: $1,400,000 ($233,333/Unit)Tucson 9,072 SF Multi-Family/Apartments

720 E Lester St (Part of Multi-Property Sale)

10 Sold: $1,400,000 ($70,000/Unit)Tucson 3,038 SF Multi-Family/Apartments

321 S Stone Ave (Part of Multi-Property Sale)


Address City Property Info Sale Info

Copyrighted report licensed to Long Realty Company - 7988. 8/15/2017

Page 1

11Sale Price

Building Size

Price per SF

Actual Cap Rate

Days on Market

Sale Price to Asking Price Ratio 89.87%

$380,952

3,038 SF

$88.26

5.50%

64

$1,262,078

7,785 SF

$162.11

6.37%

185

95.07%

$1,350,000

6,896 SF

$132.94

6.25%

193

96.43%

$2,695,000

16,301 SF

$460.83

7.25%

290

98.90%

11

11

5

4

3

Gross Income Multiplier

Gross Rent Multiplier

# of Units

Price per Unit $70,000

-

10.45

5

-

10.45

12

$105,173

-

10.45

12

$84,375

-

10.45

20

$233,333

-

1

11

11

Totals

Sold Transactions $13,882,857 Total Sales Transactions:Total Sales Volume: 11

Survey Criteria

basic criteria: Type of Property - Multi-Family; Sale Date - from 1/1/2016; Sale Status - UnderContract/Pending, Sold; Return and Search on Portfolio Sales as Individual Properties - Yes; Exclude Non-Arms Length Comps - Yes; - Exclude All Public Record Sales

multi-family specific criteria: Price/Unit - from $70,000.00; - Include Undisclosed Sale Price

geography criteria: Geography - User Defined Polygon Search

Comps Statistics

CountHighMedianAverageLow

Quick Stats Report


Page 2

Dollar Volume # of Transactions

Cap Rate Average Price Per SF

Legend:

Current Survey

Sold Transactions11

$13,882,857Number of TransactionsTotal Dollar Volume

85,6406.21

Total Bldg Square FeetTotal Land in Acres

270,508132

Total Land in SFTotal Units

$1,262,0787,785

Average PriceAverage Number of SF

$162.11$132.94

Average Price Per Bldg SFMedian Price Per SF

0.5624,592

Average Number of AcresAverage Number of SF(Land)

$105,173$84,375

Average Price Per UnitMedian Price Per Unit

126.37%

Average Number of UnitsActual Cap Rate

SoldTransactions

10.45Average GRM

-Average GIM

Time Interval - Quarterly

Report Time Frame: 7/1/2016 - 8/15/2017Sale Date: from 1/1/2016

Survey Criteria

basic criteria: Type of Property - Multi-Family; Sale Date - from 1/1/2016; Sale Status - UnderContract/Pending, Sold; Return and Search on Portfolio Sales as Individual Properties - Yes; Exclude Non-Arms Length Comps - Yes; - Exclude All Public Record Sales

multi-family specific criteria: Price/Unit - from $70,000.00; - Include Undisclosed Sale Price

Trend Report


Page 3

geography criteria: Geography - User Defined Polygon Search

Trend Report


Page 4

Trend Report

Sold Transaction Sold Transaction

3Q16 07/1-9/30/16 1Q17 01/1-3/31/17

Number of TransactionsTotal Dollar VolumeTotal Bldg Square FeetTotal Land in AcresTotal Land in SFTotal UnitsAverage PriceAverage Number of SFAverage Price Per Bldg SFMedian Price Per SFAverage Number of AcresAverage Number of SF(Land)Average Price Per UnitMedian Price Per UnitAverage Number of UnitsActual Cap RateAverage GRMAverage GIM

4Q16 10/1-12/31/16 2Q17 04/1-6/30/17

Sold TransactionSold Transaction

3$3,895,000

15,5161.60

69,69651

$1,298,3335,172

$251.03$349.29

0.5323,232

$76,373$76,333

17---

1$2,695,000

16,3011.14

49,65817

$2,695,00016,301

$165.33$165.33

1.1449,658

$158,529$158,529

176.25%10.45

-

4$3,087,857

23,1181.57

68,38930

$771,9645,780

$133.57$110.44

0.3917,097

$102,929$83,314

85.50%

--

3$4,205,000

30,7051.90

82,76434

$1,401,66710,235

$136.95$131.48

0.6327,588

$123,676$132,273

116.70%

--


Page 5

1 1730 N 1st Ave - Multi-Property Sale (Part of Multi-Property) SOLD

Tucson, AZ 85719

Sale Date:

Pro Forma CapRate:

Price/SF:Sale Price:

Actual Cap Rate:

$349.29$1,350,000 - Confirmed08/03/2016 Bldg Type:

Year Built/Age:RBA:

--

Parcel No:

Confirmed

Class C Multi-FamilyApartmentsBuilt 1953 Renov 2015 Age: 633,865 SF

Pima County

Research Status:

Price/Unit: $84,375 # of Units: 16

GRM/GIM: -Sale Conditions: 1031 Exchange

Comp ID: 3674083

2 2320-2380 N 4th Ave - QuatroVest SOLD

115-01-147C, 115-01-147D, 115-01-147E, 115-07-327

Tucson, AZ 85705

Sale Date:

Pro Forma CapRate:


Actual Cap Rate:

$128.02$1,455,000 - Confirmed05/09/2017 (197 days on mkt) Bldg Type:

Year Built/Age:RBA:

-6.85%

Parcel No:

Confirmed

Class C Multi-FamilyApartmentsBuilt 1996 Age: 2111,365 SF

Pima County

Research Status:


GRM/GIM: -Sale Conditions: -

Comp ID: 3904996

3 1211 E 9th St SOLD

124-06-097, 124-06-0970

Tucson, AZ 85719

Sale Date:

Pro Forma CapRate:


Actual Cap Rate:


Year Built/Age:RBA:

--

Parcel No:

Confirmed

Class B Multi-FamilyApartmentsBuilt 1953 Age: 638,613 SF

Pima County

Research Status:



Comp ID: 3668174

4 725 E 10th St SOLD

124-07-055, 124-07-0550, 124-07-056, 124-07-057

Tucson, AZ 85719

Sale Date:

Pro Forma CapRate:


Actual Cap Rate:


Year Built/Age:RBA:

-6.00%

Parcel No:

Confirmed


Pima County

Research Status:



Comp ID: 3934280

5 222 S Cherry Ave - Cherry Park Studios SOLD

124-12-081

Tucson, AZ 85719

Sale Date:

Pro Forma CapRate:


Actual Cap Rate:


Year Built/Age:RBA:

6.75%6.25%

Parcel No:

Confirmed

Class B Multi-FamilyApartmentsBuilt 1952 Renov 2013 Age: 6416,301 SF

Pima County

Research Status:


GRM/GIM: 10.45/-Sale Conditions: 1031 Exchange

Comp ID: 3784034

6 1409-1429 E Drachman St SOLD

123-17-2040, 123-17-2050

Tucson, AZ 85719

Sale Date:

Pro Forma CapRate:


Actual Cap Rate:


Year Built/Age:RBA:

-5.50%

Parcel No:

Confirmed


Pima County

Research Status:



Comp ID: 3834786


Page 6

7 1010-1016 E Lee St - Multi-Property Sale (Part of Multi-Property) SOLD

Tucson, AZ 85719

Sale Date:

Pro Forma CapRate:


Actual Cap Rate:

$88.29$380,952 - Allocated03/31/2017 Bldg Type:

Year Built/Age:RBA:

--

Parcel No:

Allocated


Pima County

Research Status:


GRM/GIM: -Sale Conditions: Redevelopment Project

Comp ID: 3873065

8 1030 E Lee St - Multi-Property Sale (Part of Multi-Property) SOLD

Tucson, AZ 85719

Sale Date:

Pro Forma CapRate:


Actual Cap Rate:

$132.58$914,286 - Allocated03/31/2017 Bldg Type:

Year Built/Age:RBA:

--

Parcel No:

Allocated


Pima County

Research Status:


GRM/GIM: -Sale Conditions: Redevelopment Project

Comp ID: 3873065

9 638-642 E Lester St SOLD

115-02-141D

Tucson, AZ 85719

Sale Date:

Pro Forma CapRate:


Actual Cap Rate:


Year Built/Age:RBA:

-7.25%

Parcel No:

Confirmed

Class B Multi-FamilyApartmentsBuilt 2008 Age: 99,072 SF

Pima County

Research Status:



Comp ID: 3916111

10 720 E Lester St - Multi-Property Sale (Part of Multi-Property) SOLD

Tucson, AZ 85719

Sale Date:

Pro Forma CapRate:


Actual Cap Rate:


Year Built/Age:RBA:

--

Parcel No:

Confirmed


Pima County

Research Status:



Comp ID: 3674083

11 321 S Stone Ave - Multi-Property Sale (Part of Multi-Property) SOLD

Tucson, AZ 85701

Sale Date:

Pro Forma CapRate:


Actual Cap Rate:

$88.26$542,619 - Allocated03/20/2017 (189 days on mkt) Bldg Type:

Year Built/Age:RBA:

--

Parcel No:

Allocated


Pima County

Research Status:



Comp ID: 3861958


Page 7

Location DescriptionARMORY PARK


Location

Mariposa Apartments

Primary Photo


Property Photos

Mariposa Apartments


Property Photos

Mariposa Apartments

[email protected](520) 403-2150License: BR107273000

Long Realty Company

900 E. River RoadTucson, AZ 85718

Anthony ReedAs an associate broker with over 40 years of experience as a property professional, specializing in investment and incomeproperties, I understand the intricacies of the Real Estate process. I know the Tucson area and the investment and incomeopportunities available here.

Current Occupation: ASSOCIATE BROKER

Website: http://WWW.INVESTTUCSON.COM


Broker Profile

Mariposa Apartments

mailto:[email protected]

http://www.investtucson.com

Presented by Mariposa Apartments Long Realty Company › d2 › 0_voTO9bUiwaLY6Mt0... · Sale Price...

Documents

Transcript of Presented by Mariposa Apartments Long Realty Company › d2 › 0_voTO9bUiwaLY6Mt0... · Sale Price...