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(480) 818-8977
Red Rock Home Group
1490 E Prospect Lane, Tucson, AZ 85719
- $3,500,000
- 16
- BD
- 16
- BA
- List Price
- $3,500,000
- Days on Market
- 1
- Status
- ACTIVE
- MLS#
- 7099053
- City
- Tucson
- Bedrooms
- 16
- Bathrooms
- 16
- Year Built
- 1956
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 Elementary School
- High School
- Amphitheater High School
- Community Features
- Pool, Spa(s), Play Area
- Construction
- Adobe
- Cooling
- Central Air
- Electric
- City Electric
- Flooring
- Other
- Heating
- Natural Gas
- New Financing
- Conventional, Cash
- Parking Features
- Carport
- Roofing
- Tile, Built-Up
- Sewer
- Septic Tank
- Pool
- Yes
- Taxes
- $10,782
- Tax Year
- 2025
- Tenant Pays
- Electricity
- Units
- 9
- Water
- Domestic, Private
- Zoning
- Tucson - MH1
Courtesy of Grigg's Group Powered by The Altman Brothers. 480-788-0929
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