NOT LISTED FOR SALE

638 E Lester St Tucson, AZ 85705

Jefferson Park Neighborhood

Estimated Value: $1,037,000 - $2,843,000

Studio
-- Bath
9,072 Sq Ft
$238/Sq Ft Est. Value

Last Sold May 22, 2017

Last sale price $1,400,000 $154 Per Sq Ft

Est. 54% increase in value since last sale

Current estimated payment $11,944/month

19 Days on Market

About This Home

As of May 2017

Beautiful 6 Plex with 4 bedroom and 3 bedroom units. Built in 2008, well maintained. 5 blocks from UofA, fully leased through 7/28/2018. One of the owners is a licensed real estate broker in AZ.

Last Agent to Sell the Property

Jarrett Reidhead

Tucson Integrity Realty, LLC Listed on: 05/01/2017

Last Buyer's Agent

Jarrett Reidhead

Tucson Integrity Realty, LLC Listed on: 05/01/2017

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $7,374

Year Built

  • Built in 2008

Lot Details

  • 0.41

Home Design

  • 9,072 Sq Ft Home
  • Frame With Stucco

Additional Features

  • 0.41 Acre Lot
  • Forced Air Heating and Cooling System

Listing and Financial Details

  • $7,394 special tax assessment

Community Details

Overview

  • Tucson Heights Amended Subdivision

Building Details

  • Insurance Expense $2,016
  • Maintenance Expense $7,000
  • Professional Management Expense $17,160
  • Water Sewer Expense $5,312
  • Gross Income $171,600
  • Net Operating Income $129,103

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$7,374

Year Built

Built in 2008

Lot Details

0

Listing Details

  • Property Type: Multi Family
  • Legal Description: TUCSON HEIGHTS AMENDED LOTS 1 & 2 BLK 24
  • List Price per Sq Ft: 159.83
  • Unit Info Average Monthly Rent Three Bedroom: 1950.00
  • Unit Info Avg Mo Rent Other: 2600.00
  • Unit Info Number Of Units3 B R: 2
  • Unit Info Number Of Units Other: 4
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Gross Sq Ft: 9072.00
  • Interior Steps: No

Exterior Features

  • Construction: Frame - Stucco

Utilities

  • Water: City Water
  • Fire Protection: Included in Taxes
  • Main Cooling: Central Air
  • Main Heating: Electric, Forced Air
  • Security: Window Bars
  • Sewer: Connected

Condo/Co-op/Association

  • Community: None

Fee Information

  • Expenses Admin Expenses: 365.00
  • Expenses Capital Expenses: 3000.00
  • Expenses Figures Presented: Proforma
  • Expenses Maintenance Supplies: 7000.00
  • Expenses Other Expenses: 250.00
  • Expenses Taxes Assessments: 7394.00

Lot Info

  • Property Group ID: 19990816212116581394000000
  • Lot Acres: 0.41
  • Lot Dimensions: Unknown
  • Lot Size Price Sq Ft: 81.19
  • Lot Sq Ft: 17860.00
  • Lot Sz Sold Prc Sq Ft: 78.39
  • Municipality Zoning: Tucson - R2

Building Info

  • Year Built: 2008

Tax Info

  • Tax Code: 115-02-141D
  • Taxes: 7374.00
  • Tax Year: 2016

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Mar 27, 2020
Sold by
Jems Investments Lp
Bought by
Lester Apartments Llc
Current Estimated Value
$2,157,101

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$990,000
Outstanding Balance
$495,571
Interest Rate
3.4%
Mortgage Type
Commercial
Estimated Equity
$1,661,530

Purchase Details

Listed on
May 1, 2017
Closed on
May 3, 2017
Sold by
Group Dwelling Llc
Bought by
Jems Investments Lp
Seller's Agent
Jarrett Reidhead
Tucson Integrity Realty, LLC
Buyer's Agent
Jarrett Reidhead
Tucson Integrity Realty, LLC
List Price
$1,400,000
Sold Price
$1,400,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
5.13%
Original Mortgage
$910,000
Interest Rate
4.1%
Mortgage Type
New Conventional

Purchase Details

Closed on
Aug 22, 2014
Sold by
Lester Flats Llc
Bought by
Group Dwelling Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$675,000
Interest Rate
4.12%
Mortgage Type
Commercial

Purchase Details

Closed on
Sep 18, 2007
Sold by
Kelly Michael J and Kelly Josephine
Bought by
Lester Flats Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$766,050
Interest Rate
6.61%
Mortgage Type
Construction

Purchase Details

Closed on
Aug 18, 1994
Sold by
Klassen Patsy and Klassen Patsy R
Bought by
Kelly Michael J

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$67,754
Interest Rate
8.8%
Mortgage Type
Assumption
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Lester Apartments Llc $1,560,000 Title Security Agency Llc
Jems Investments Lp $1,400,000 Title Security Agency Llc
Jems Investments Lp $1,400,000 Title Security Agency Llc
Group Dwelling Llc $900,000 Title Security Agency Llc
Group Dwelling Llc $900,000 Title Security Agency Llc
Lester Flats Llc -- Ttise
Lester Flats Llc -- Ttise
Kelly Michael J $110,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Lester Apartments Llc $990,000
Previous Owner Jems Investments Lp $910,000
Previous Owner Group Dwelling Llc $675,000
Previous Owner Lester Flats Llc $766,050
Previous Owner Kelly Michael J $67,754
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
05/22/2017 05/22/17 Sold $1,400,000 0.0% $154 / Sq Ft
05/01/2017 05/01/17 For Sale $1,400,000 -- $154 / Sq Ft
Source: MLS of Southern Arizona

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $7,966 $60,223 -- --
2024 $7,204 $57,356 -- --
2023 $7,204 $54,624 -- --
2022 $7,246 $52,023 $0 $0
2021 $7,204 $47,187 $0 $0
2020 $6,985 $52,617 $0 $0
2019 $6,893 $68,868 $0 $0
2018 $6,742 $43,710 $0 $0
2017 $7,189 $43,710 $0 $0
2016 $7,374 $43,900 $0 $0
2015 $7,124 $41,990 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • J

    Seller's Agent in 2017

    Jarrett Reidhead

    Tucson Integrity Realty, LLC

See All Agents

Map

Source: MLS of Southern Arizona

MLS Number: 21713753

MLS of Southern Arizona

APN: 115-02-141D

Arizona Pima County Tucson 85705 Jefferson Park

638 E Lester St, Tucson, AZ

Not Listed for Sale

MultiFamily

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