1490 E Prospect Lane, Tucson, AZ 85719

$3,500,000
  • 1490 E Prospect Lane, Tucson, AZ 85719 Main Photo

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New to the Market Active
BEDS16 BATHS MLS#7099053
STATUSActive PROPERTY TYPEMulti Unit - Multiple SCHOOLAmphitheater Unified District

Property Description

An extraordinary opportunity to own one of Tucsons most distinctive historic income-producing compounds, generating approximately **$246,000 in annual rental income** with significant additional upside. Behind gated entrances from both Prospect Lane and Limberlost, this unique property features **9 separate residences**, a resort-style pool, mature landscaping, fruit orchards, gardens and approximately **½ acre of undeveloped land with the potential to add up to 12 additional units**. The property offers a diversified income stream through a mix of long-term rentals, short-term rentals and owner-occupied space, while providing exceptional flexibility for a future owner Continue the current income strategy, expand the existing residential footprint, create a multi-generational family compound, corporate or executive housing destination, boutique retreat, or explore other potential uses.Unlike a typical multi-unit investment, this is an irreplaceable historic compound where each residence has its own character and identity. Extensive improvements have modernized the property while preserving its historic charm, including central A/C throughout, renovated bathrooms, restored fireplaces, updated roofs, plumbing, electrical, windows and appliances, plus upgraded gates, fencing, parking and the addition of a resort-style pool.With approximately $250,000 in current annualized income, 9 residences, potential for 12 additional units, and a rare combination of historic character, privacy and flexibility**, this is far more than an income property--it is a one-of-a-kind compound with immediate cash flow and exceptional future potential.

1490 E Prospect Lane | MLS# 7099053

This multi-family property located at 1490 E Prospect Lane, Tucson, AZ 85719 is currently listed for sale with an asking price of $3,500,000. E Prospect Lane is located within the Amphitheater Unified District school district. Search Tucson real estate on www.arizonabest.com today.

Property Features

Property Type: Multi Unit - Multiple
Cooling: Central Air
Heating: Natural Gas
Roof Type: Tile, Built-Up
Taxes: $10,782
Year Built: 1956

Feature Descriptions

Community Features: Pool, Spa(s), Play Area
Exterior: Adobe
Flooring: Other
Parking: Carport
Sewer: Septic Tank
Swimming Pool: Yes
Water: Domestic, Private

Local Schools

High School: Amphitheater High School
Elementary School: Rio Vista Elementary School
School District: Amphitheater Unified District

Listed By / Shown By

Listed By

Agency Name: Grigg's Group Powered by The Altman Brothers
Agency Phone: 480-788-0929

Shown By

Agency Title: Arizona Best Real Estate
Agency Phone: 480-948-4711

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Estimated Payment

$ 9,708.82 per month $7,789.48 Principal & Interest $898.50 Property Tax $1,020.83 Homeowner's Insurance

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