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1435-1445 E Fort Lowell Rd
Tucson, AZ 85719
Santa Fe Casitas · Multifamily Property For Sale
·
13 Units
PROPERTY FACTS
| No. Units | 13 | Lot Size | 0.91 AC |
| Property Type | Multifamily | Building Size | 12,600 SF |
| Property Subtype | Apartment | No. Stories | 1 |
| Apartment Style | Low-Rise | Year Built | 1972 |
| Building Class | C | Parking Ratio | 1.69/1,000 SF |
| Zoning | R-2, Tucson | ||
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.91 AC |
| Building Size | 12,600 SF |
| No. Stories | 1 |
| Year Built | 1972 |
| Parking Ratio | 1.69/1,000 SF |
| Zoning | R-2, Tucson |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Storage Space
SITE AMENITIES
- Laundry Facilities
- Storage Space
ABOUT 1435-1445 E FORT LOWELL RD , TUCSON, AZ 85719
Marcus & Millichap is pleased to announce it has been retained as the exclusive advisor for the disposition of Santa Fe Casitas, a 13-Unit Multifamily Community located in Richland Heights West neighborhood of Tucson, Arizona. With over a decade of continuous ownership, Santa Fe Casitas present a remarkable value-add opportunity for a meticulously maintained single-story community just north of the University of Arizona. Built in 1972 of block construction, Santa Fe Casitas deliver comfortable interior appointments through spacious two bedroom apartment homes. Santa Fe Casitas provides large 900 Square Feet units and apartment interiors have individual HVACs and include kitchens equipped with frost-free refrigerators and gas range. Community amenities include a community Ramada, thirteen 5 foot by 5 foot rentable storage units, large convertible work/storage center, and an on-site laundry facility. Santa Fe Casitas is a prime candidate for repositioning within its competitive landscape. With proximity to both Downtown Tucson, North Campbell Retail Corridor, Fourth Avenue Business District, Main Gate Square, University Medical Center and The University of Arizona, Santa Fe Casitas provides an all-inclusive work/play environment. Currently, Santa Fe Casitas are 23% under market average rents for similar grade assets. Beyond the immediate upside of market rent increase, Santa Fe Casitas is also positioned for interior renovations to cater to the burgeoning population of young-professionals and post-graduates looking to be in close proximity to work, restaurants, bars, and shops. Renovated communities within close proximity to Santa Fe Casitas are achieving weighted average net rents of $1.11 per square foot, nearly $0.50 higher than Santa Fe Casitas.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 13 | - | 900 |
PROPERTY TAXES
| Parcel Number | 113-06-1180 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $85,278 |
PROPERTY TAXES
