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1490 E Prospect Lane

Tucson, AZ 85719

Tucson, AZ 85719

1490 E Prospect Lane

$3,500,000

MLS#: 22621896

Status: Active

Listing provided by: Griggs's Group Powered by The Altman Brothers

Listing agent phone: None

Last update: 25 days ago

On site: 26 days ago

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About

An extraordinary opportunity to own one of Tucson's 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.

Property

Beds

None

Full Baths

None

1/2 Baths

None

Year Built

1956

Sq.Footage

11,942

Features

Features & Amenities

Interior

  • Total Bedrooms

    N/A

  • Bathrooms

    N/A

  • Heating YN

    YES

  • Heating

    Other

  • Pet friendly

    N/A

Exterior

  • Garage

    No

  • Construction Materials

    Adobe

  • Pool

    No

Area & Lot

  • Lot Features

    Few Trees

  • Lot Size(acres)

    2.67

  • Lot Size(square feet)

    112,843

  • Property Type

    Commercial Sale

Price

  • Sales Price

    $3,500,000

  • Tax Amount

    $10,782.27

  • Sq. Footage

    11,942

  • Price/SqFt

    $293

HOA

  • Association

    No

School District

  • Elementary School

    N/A

  • Middle School

    N/A

  • High School

    N/A

Property Features

  • Sewer

    Septic Tank

  • Water Source

    Public, Well, Private

Schedule

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Location

  • County

    Pima

  • Elementary School

  • Middle School

  • High School

Listing Courtesy of Pete M Torrez PLLC, Griggs's Group Powered by The Altman Brothers

RealHub Information is provided exclusively for consumers' personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. RealHub website owner shall not be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.

Agent Terri Applegarth

Terri Applegarth

Agent / Realtor®

Call Terri today to schedule a private showing.

Phone (303) 880-6439

Email Terri@MandyGoldTeam.com


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An extraordinary opportunity to own one of Tucson's 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

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