$2,750,000
93 KINGS WaySierra Vista, AZ 85635
MLS# 5689022
82 beds | 40 baths
1 / 34
Property DescriptionINVESTMENT HIGHLIGHTS:
*Completely renovated and re-positioned
in 2016 thru 2017 with over $750K in capital
improvements
*Low maintenance
*Individually metered for gas and electricity
*Pride of ownership community with a
contemporary urban design
*Located within 1/2 mile from the new $100 million Canyon Vista Medical Center providing a captive and expanding tenant base
*Easy access to Cochise College, which is rated in the top three in the nation for Junior Colleges, and to the University of Arizona South Campus
*Positive operational trend with additional revenue enhancement opportunity
Details
Contract Info
Current Price: $2,100,000
List Price: $2,750,000
Status: Closed
List Date: 2017-11-15
Ownership: Fee Simple
Location, Tax & Legal
Map Code/Grid: C73
House Number: 93
Street Name: KINGS
St Suffix: Way
City/Town Code: Sierra Vista
State/Province: AZ
Zip Code: 85635
Zip4: 3642
Country: US
County Code: Cochise
Subdivision: None
Assessor Number: 107-51-002
Tax Year: 2016
General Property Description
Lot Size Dimensions: 1.93 Acres
Year Built: 1973
Uncvrd Parking Spcs: 50
Total # of Units: 40
# of Buildings: 5
Zoning: MF
Elementary School: Sierra Vista Elementary School
Legal Info
Township: 22
Range: 21
Section: 06
Block: 22
Lot Number: 3
1 Bedroom Units
# 1 Bedroom Units: 6
Avg Rent: 499
Avg SqFt: 655
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 26
Avg Rent: 585
Avg SqFt: 828
# Baths: 1
3 Bedrooms Units
# 3 Bedroom Units: 8
Avg Rent: 685
Avg SqFt: 982
# Baths: 1
Structure
Bedrooms Total: 82
Bathrooms Total: 40
Income & Expenses
Gross Annual Sch Inc: 284,848
Net Operating Income: 195,995
Sold Info
Loan Type: Carryback
Loan Years: 10
Payment Type: Fixed
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Remarks Misc
Cross Street: Highway 90 (Fry Blvd) and Kings Way
Directions: E. Highway 90 to Kings Way, South on Kings Way to property
Geo Lat: 31.553878
Geo Lon: -110.250474
Status Change Info
Off Market Date: 2018-04-11
Under Contract Date: 2018-02-09
Close of Escrow Date: 2018-04-11
Sold Price: $2,100,000
Property Features
Project Type: 25 - 50 Units
Construction: Block; Slump Block
Const - Finish: Painted
Roofing: Composition
Floors: Carpet; Other
Sale Includes: Land & Building
Community Features: No Pool; Other; See Remarks
Exterior Amenities: Desert Landscaping; Fenced; Cable TV Available
Interior Features: Fire/Smoke Alarm(s); Mini Blinds
Appliances Included: Disposal; Microwave; Refrigerator; Free-Standing Range
Heating: Natural Gas
Cooling: Electric
Water Source: Private
Sewer: Sewer - Public
Electric: Other (See Remarks)
Gas: SW Gas
Parking Features: Free; 1 Space/Unit; Paved
Road Surface Type: Asphalt
Owner Pays: Water; Sewer; Trash Collection; Other; See Remarks
Tenant Pays: Gas; Water; Sewer; Electricity; Trash Collection; Cable TV
Source of Fincl Data: Owner; Projected Proforma
Special: Owner/Agent
Existing 1st Loan: Treat as Free&Clear
Existing 1st Loan Type: Not Applicable
Existing 1st Loan Terms: Not Applicable
Existing 2nd Loan: Treat as Free&Clear
Existing 2nd Loan Type: Not Applicable
Existing 2nd Loan Terms: Not Applicable
Existing 3rd Loan: Treat as Free&Clear
Existing 3rd Loan Type: Not Applicable
Existing 3rd Loan Terms: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: Conventional; FHA; Owner May Carry
Environmental: None
Last Updated: June - 12 - 2020
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