1492 E Prospect, Tucson, AZ 85719
- $3,500,000
- 16
- BD
- 16
- BA
- 11,942
- SqFt
- List Price
- $3,500,000
- Days on Market
- 22
- Status
- ACTIVE
- MLS#
- 22621699
- City
- Tucson
- Bedrooms
- 16
- Bathrooms
- 16
- Living SQFT
- 11,942
- Lot Size
- 112,843
- Subdivision
- N/A
- Year Built
- 1956
- Type
- Single Family Residence
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.
Additional Information
- Elementary School
- Rio Vista
- High School
- Amphitheater
- Middle School
- Amphitheater
- School District
- Amphitheater
- Acres
- 2.67
- Community Features
- Jogging Path
- Exterior Features
- Native Species, Play Equipment, Courtyard
- Fencing
- Wrought Iron
- Flooring
- Other, Tile, Tile, Stone
- Garage Spaces
- 2
- Accessibility Features
- None
- Heating
- Other
- Living Area
- 11,942
- Lot Size
- 112,843
- Parking Features
- Detached, Circular Driveway
- Lot Features
- Flower Beds, Shrubs, Sprinkler System, Sprinkler System-Yard
- Sewer
- Septic Tank
- Pool
- Yes
- Style
- Territorial, Southwestern
- Subdivision
- N/A
- Taxes
- $12,988
- Utilities
- Sewer Connected
- Water
- Public, Private Well, Well
- Zoning
- Tucson - MH1
Courtesy of Griggs's Group Powered by The Altman Brothers.
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