FOR SALE - NEW CONSTRUCTION: Student Housing/13 Units in Tucson
New Construction Student Housing in Tucson, Arizona For Sale.
New Construction geared for Student Housing - 13 3-bed/2.5-bath Units in Central Tucson. Each unit would be 1,408 SF (541SF 1st Floor & 867 SF 2nd Floor) with a 96 SF Patio, 20 SF Entry and a 387 SF 2-Car Garage - Totaling 1,911 SF. 1st story is 13'4" to ceiling height and the 2nd story tops out at 19'1".
Offered at $3.2M
The property is expected to charge $650/room/month not including utilities (well-below market rents) which would bring ~$25k in gross revenue per month at 100% occupancy. Expenses are expected to be very low for the first 10 years of the property's life; turnover maintenance is estimated at 2.5% of gross income; management is estimated at 7.5% of gross income; taxes are estimated at $20,000, and insurance is estimated $8,775.
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Listed By: Keller Williams Southern Arizona