$3,500,000
Tucson, AZ 85719
MLS# 22621896
11942 sqft
1 / 50
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
Details
Address Information
Street #: 1490
Direction: E
Street Name: Prospect
Suffix: Lane
State/Province: AZ
Zip Code: 85719
County: Pima
Country: USA
Location, Tax & Legal
Tax Code: 108-21-021H
Area: Central
Contract Information
Current Price: $3,500,000
List Price: $3,500,000
Listing Date: 2026-09-09
Status: Active
Method of Title: Fee (Simple)
Short Sale: No
General Property Information
Property Sub-Type: Apartment
# Units: 1
Year Built: 1956
Lot Dimensions: irr
Lot Acres: 2.67
Lot Sqft: 112843
Lot Size Source: Assessor
Combined SqFt: 11942
Source of SqFt: Assessor
Leasable SqFt: 11942
List Price/SqFt: 293.08
Lot Size Price/SqFt: 31.02
Electric
Electric Company: TEP
Fence
Other: metal
Main Cooling
Other: multiple units
Parking
# Covered Parking: 5
Other: other
Remarks Misc
Geo Lat: 32.28432
Geo Lon: -110.950018
Income
Gross Scheduled Rent: 250000
Property Features
Construction: Burnt Adobe
Main Heating: Other
Gas: Natural
Sewer: Connected; Septic
Water: Public; Pvt Well (Registered)
Accessibility Option: None
Landscape - Front: Desert Plantings; Natural Desert; Shrubs; Trees
Landscape - Rear: Desert Plantings; Flower Beds; Natural Desert; Shrubs
Road Type: Paved
Lot Features: North/South Exposure
Terms: Cash; Conventional
Possession: Recording
Property Disclosures: Lead Based Paint
Special Conditions: None
Supplements
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.
Listing Office: Griggs's Group Powered by The Altman Brothers
Last Updated: September - 09 - 2026
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