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1492 E Prospect

Tucson, AZ 85719

Territorial, Southwestern

Tucson, AZ 85719

1492 E Prospect

$3,500,000

MLS#: 22621699

Status: Active

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

Listing agent phone: None

Last update: a month ago

On site: a month ago

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N/A - Residential

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

16

Full Baths

14

1/2 Baths

2

Year Built

1956

Sq.Footage

11,942

Features

Features & Amenities

Interior

  • Other Interior Features

    Beamed Ceilings, Entrance Foyer, Walk-In Closet(s), High Ceilings, High Speed Internet

  • Total Bedrooms

    16

  • Bathrooms

    14

  • 1/2 Bathrooms

    2

  • Basement YN

    NO

  • Fireplace YN

    YES

  • Heating YN

    YES

  • Heating

    Wood Stove

  • Pet friendly

    N/A

Exterior

  • Garage

    Yes

  • Garage spaces

    2

  • Construction Materials

    Stucco, Adobe

  • Other Exterior Features

    Courtyard, Playground

  • Parking

    Circular Driveway, Detached, Attached, Garage

  • Patio and Porch Features

    Covered

  • Pool

    Yes

  • Pool Features

    Heated

  • View

    Mountain(s)

Area & Lot

  • Lot Features

    Sprinklers In Front, Native Plants, Few Trees

  • Lot Size(acres)

    2.67

  • Lot Size(square feet)

    112,843

  • Property Type

    Residential

  • Property Sub Type

    Single Family Residence

  • Architectural Style

    Territorial, Southwestern

Price

  • Sales Price

    $3,500,000

  • Tax Amount

    $12,988

  • Financing Options

    Conventional, Cash

  • Sq. Footage

    11,942

  • Price/SqFt

    $293

HOA

  • Association

    No

Property Resources

  • Horse Property

    NO

School District

  • Elementary School

    Rio Vista

  • Middle School

    Amphitheater

  • High School

    Amphitheater

Property Features

  • Association Amenities

    Trail(s)

  • Senior Community YN

    NO

  • Sewer

    Septic Tank

  • Water Source

    Public

Schedule

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Location

  • County

    Pima

  • Elementary School

    Rio Vista

  • Middle School

    Amphitheater

  • High School

    Amphitheater

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

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Agent Mandy Gold

Mandy Gold

Associate Broker / Realtor®/ Team Lead

Call Mandy today to schedule a private showing.

Phone (520) 508-4855

Email mandy@mandygoldteam.com


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MLS#: 22622737

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4 Beds

4 Baths

5,020 Sq.Ft.

$2,999,000

MLS#: 22621541

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4 Beds

4 Baths

6,116 Sq.Ft.

$2,800,000

MLS#: 22619633

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#22619408

Tucson

2200 N La Rienda Avenue

6 Beds

5 Baths

6,639 Sq.Ft.

$3,600,000

MLS#: 22619408

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.

1492 E Prospect

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