1490 E Prospect Ln, Tucson, AZ 85719
1490 E Prospect Ln, Tucson, AZ 85719
1490 E Prospect Ln, Tucson, AZ 85719
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Listed by Griggs's Group Powered by The Altman Brothers • Pete M Torrez PLLC
$3,500,000
Est. payment /mo
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11,942 SqFt
Active

1490 E Prospect Ln Tucson, AZ 85719

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Matthew Dibble

Matthew Dibble

+1(623) 219-7953

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Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

Square Footage 11,942 sqft

Price per Sqft $293

MLS Listing ID 22621896

Year Built 1956

Annual Tax Amount $10,782

Tax Year 2025

Lot Size 2.591 Acres

Acres 2.67

Lot Dimensions irr

Source MLS of Southern Arizona

Property Description

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.

Location

State AZ

County Pima

Area Central

Zoning Tucson - MH1

Interior

Heating Other

Exterior

Fence Other

Utilities Available Sewer Connected

View Y/N No

Water Access Desc Public

Building

Lot Description North/South Exposure

Sewer Septic Tank

Others

Tax ID 108-21-021H

Acceptable Financing Conventional, Cash

Listing Terms Conventional, Cash

Special Listing Condition None

MLS of Southern Arizona - IDX

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Matthew Dibble

Matthew Dibble

Agent

+1(623) 219-7953

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1490 E Prospect Ln