3314 E Benson Highway

    Tucson, AZ 85706
    • $1,000,000
    • STATUS: Active
    • ID#: 21822563
    UPDATED: 65 min ago
    $1,000,000
    • 0
      BEDS
    • 0.77
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 8,013
      SQFT
    • $125
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1962
    County:
    Area:

    School Ratings & Info

    Courtesy of Abi Multifamily.

    Description

    The Benson Apartments is a 30-unit multifamily community located off of Benson Highway in Tucson, AZ. This property was converted from a motel to apartments in 2017. The owner has invested over $320,000 in capital expenditures qualifying the majority of the units for the HUD-VASH program. The HUD-VASH program is a collaboration between both HUD and the VA to help homeless Veterans and their families sustain housing. The current owner has all needed items to qualify the remaining units for the HUD-VASH program, and is willing to convey everything within the sale. As well, he is willing to continue managing the property off site, eliminating the free rent and salary from the manager's unit, thereby significantly increasing cash flow.

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    © 2018 MLS of Southern Arizona. All rights reserved. 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. Information is deemed reliable but is not guaranteed accurate by the MLS or Realty Executives Tucson Elite. Data last updated: 2018-12-18T22:06:30.233.
    www.thekmsteam.com/homes/86701395

    3314 E Benson Highway Tucson, AZ 85706

    • Price: $1,000,000
    • Status: Active
    • Updated: 65 min ago
    • ID#: 21822563
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.77
    Acres
    8,013
    SQFT
    $125
    $/SQFT
    1962
    Built
    Neighborhood:
    South
    County:
    Pima
    Area:
    South
    Property Description
    The Benson Apartments is a 30-unit multifamily community located off of Benson Highway in Tucson, AZ. This property was converted from a motel to apartments in 2017. The owner has invested over $320,000 in capital expenditures qualifying the majority of the units for the HUD-VASH program. The HUD-VASH program is a collaboration between both HUD and the VA to help homeless Veterans and their families sustain housing. The current owner has all needed items to qualify the remaining units for the HUD-VASH program, and is willing to convey everything within the sale. As well, he is willing to continue managing the property off site, eliminating the free rent and salary from the manager's unit, thereby significantly increasing cash flow.
    Property Features

    Analysis Cap Rate Percent 8.50 Analysis Gross Rent Multi 5.60 Analysis Vacancy Rate Percent 10.00 Assessments 0.00 Country Usa Expenses Other Expenses 103040.00 Fire Protection Included in Taxes Income Adjusted Gross 196560.00 Income Gross Scheduled Rent 203400.00 Income Other Income 13500.00 Income Vacancy Loss 20340.00 Lot Dimensions irregular Lot Sqft 33523.00 Municipality Zoning Tucson - Mu Property Sub Type Apartment Short Sale No Source Of Sqft Assessor Tax Year 2018 Taxes 3470.03

    Listing provided courtesy of Abi Multifamily. Listing information © 2018 MLS of Southern Arizona.




    © 2018 MLS of Southern Arizona. All rights reserved. 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. Information is deemed reliable but is not guaranteed accurate by the MLS or Realty Executives Tucson Elite. Data last updated: 2018-12-18T22:06:30.233.
     
    Realty Executives Tucson Elite
    5225 E Pima Street
    Tucson AZ, 85712
    Courtesy of Abi Multifamily.