$1,686,100
Bisbee, AZ 85603
MLS# 6296060
Status: Closed
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Property Description
Built in 1903 as the Copper Queen Gymnasium, it became the YMCA in 1905 and then was renovated into spacious apartments in the 1980s, ultimately becoming the Gym Club Suites as it is known today. All 17 apartments are furnished and have full kitchens, living rooms, window a/c units, ceiling fans, electric heat and range from 1-3 bedrooms and 1-2 baths. Some units even have a balcony/deck, skylights and split-levels. In addition, there is a 1-bedroom manager's apartment, laundry room, and elevator with service to the 3rd floor. Currently nightly rentals, but could be much needed, and in demand, long-term rentals. Plenty of public parking in lots right in front of the building. Visit www.GymClubSuites.com for more photos, video, and floor plans. Buyer to verify all facts/figures.
Details
Maps
Contract Info
Ownership: Fee Simple
Current Price: $1,686,100
Sold Price: $1,686,100
Status: Closed
List Date: 2021-09-19
Location, Tax & Legal
Assessor's Map #: 62
Legal Description (Abbrev): LOTS 38,39,40,41,42,43,44 & 45 BLOCK 3 BISBEE
Assessor's Parcel #: 150
Assessor Parcel Ltr: L
Add'l Parcels: No
Tax Municipality: Bisbee
Census Tract: 1000
Taxes: 23765
Legal: LOTS 38,39,40,41,42,43,44 & 45 BLOCK 3 BISBEE
Marketing Name: Gym Club Suites
Map Code/Grid: C73
House Number: 39
Street Name: Howell
St Suffix: Avenue
City/Town Code: Bisbee
State/Province: AZ
Zip Code: 85603
County Code: Cochise
Subdivision: OLD BISBEE
Assessor Number: 103-62-150-L
Tax Year: 2020
General Property Description
Ttl Apx SqFt Bldg: 10976
# of Buildings: 1
Uncvrd Parking Spcs: 0
Flood Zone: No
Year Built: 1900
Zoning: C-3
Legal Info
Range: 24
Section: 9
Township: 23
Lot Number: 38
Construction
Brick: 1
Wood Frame: 1
Roofing
Composition: 1
Floors
Vinyl: 1
Ceramic Tile: 1
Carpet: 1
Income & Expenses
Annual Elec Exp: 16442
Annual Gas Exp: 494
Annual Ins Exp: 5930
Annual Legal & Acctg: 500
Annual Maint Exp: 8572
Annual Mgmt Exp: 20880
Annual Trash Exp: 11723
Annual Wtr/Swr Exp: 4135
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 92441
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 208849
Building Type
Commercial: 1
Other (See Remarks): 1
Business Type
Service Business: 1
See Remarks: 1
Stories
3 - 4 Stories: 1
Pmt & Rate Info
Cap Rate: 5.97
Equity: 1950000
Total Owed: 0
Showing Notification Methods
Text: 1
Email: 1
Phone Call: 1
Lockbox Type
None: 1
Ceiling Height
10.1 Feet to 12 Feet: 1
12.1 Feet to 14 Feet: 1
14.1 Feet to 16 Feet: 1
Heating
Electric: 1
Natural Gas: 1
Cooling
Window/Wall Unit: 1
Office Evap: 1
Loading Facilities
None: 1
Roads/Streets
Asphalt: 1
Exterior
Building Sign: 1
Source of Fincl Data
Owner: 1
Traffic Count
Unknown: 1
Fencing
Chain Link: 1
Water Source
Private: 1
Freeway/Highway
Up to 1 Mile: 1
Sewer
Sewer - Public: 1
Parking Features
Parking Lot: 1
Electric
APS: 1
Gas
SW Gas: 1
New Financing
Cash Only: 1
Existing 1st Loan
Other (See Rmks): 1
Existing 2nd Loan
SBA: 1
Reports/Disclosures
Seller Prop Disc Stm: 1
Vicinity of an Airport: 1
Environmental
None: 1
Sold Info
Loan Type: Carryback
Loan Years: 4
Payment Type: Balloon
Clsing Cost Split: Normal - N
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 0
Seller Concession $/%: $
Remarks Misc
Directions: Brewery Ave to Howell Ave (Santiago's Restaurant), make immediate left onto Howell Ave, the property is on the right (Gym Club Suites) and parking is in the lots in front of the building.
Geo Lat: 31.442682
Geo Lon: -109.914935
Status Change Info
Off Market Date: 2022-04-30
Under Contract Date: 2021-11-14
Close of Escrow Date: 2022-07-15
Sold Price: $1,686,100
Income Expenses
Gross Annual Sch Inc: 208849
Net Operating Income: 116408
Property Features
Building Type: Commercial; Other (See Remarks)
Business Type: Service Business; See Remarks
Stories: 3 - 4 Stories
Construction: Wood Frame; Brick
Roofing: Composition
Floors: Vinyl; Ceramic Tile; Carpet
Ceiling Height: 10.1 Feet to 12 Feet; 12.1 Feet to 14 Feet; 14.1 Feet to 16 Feet
Heating: Natural Gas
Cooling: Window/Wall Unit; Office Evap
Loading Facilities: None
Exterior: Building Sign
Fencing: Chain Link
Parking Features: Parking Lot
Electric: APS
Gas: SW Gas
Water Source: Private
Sewer: Sewer - Public
New Financing: Cash Only
Showing Notification Methods: Text; Email; Phone Call
Lockbox Type: None
Source of Fincl Data: Owner
Existing 1st Loan: Other (See Rmks)
Existing 2nd Loan: SBA
Traffic Count: Unknown
Environmental: None
Listing Office: Tierra Antigua Realty, LLC
Last Updated: July - 15 - 2022
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