Properties

Tucson, AZ 85719 1490 E Prospect Lane

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Presented By: Pete M Torrez PLLC with Griggs's Group Powered by The Altman Brothers.
  • MLS# 22621896
  • 09/09/2026
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  • SQFT • 11,942

Home Details

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 **ยฝ 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.
Presented By: Pete M Torrez PLLC with Griggs's Group Powered by The Altman Brothers.

Interior Features for 1490 E Prospect Lane

Bathrooms

Total Baths

Other Interior Features

LivingAreaSourceAssessor
Heating Y/NYes

General for 1490 E Prospect Lane

AccessibilityNone
Additional Parcels Y/NNo
Carport Y/NNo
CityTucson
Construction MaterialsBurnt Adobe
CountyPima
DisclosuresLead Based Paint
Garage Y/NNo
HeatingOther
Land Lease Y/NNo
Leasable Area11942.0
Lease Considered Y/NNo
Lease Renewal Y/NNo
Legal DescriptionWly Ptn Nw4 Se4 Nw4 Se4 1.68 Ac Sec 19-13-14
Lot Size Square Feet112843.0
Lot Size UnitsAcres
MLS AreaCentral
MLS Area MinorCentral
MobileHomeRemainsYNNo
New Construction None
Parcel Number108-21-021H
PossessionRecording
Property TypeCommercial Sale
Rent Control Y/NNo
Senior CommunityNone
SewerSeptic Tank
Standard StatusActive
StatusActive
Tax Annual Amount10782.27
Tax Year2025
UtilitiesSewer Connected
Water Body Access Y/NNone
Year Built1956
ZoningTucson - MH1

Exterior for 1490 E Prospect Lane

Building Area Total11942.0
Covered Spaces5.0
Crops Included Y/NNo
ExteriorFeatures@Core.PermissionsNone
FencingOther
Irrigation Water Rights Y/NNo
Lot Dimensionsirr
Lot FeaturesNorth/South Exposure
Lot Size Acres2.67
Lot Size Area2.67
Lot Size SourceAssessor
Number of Buildings1
Other Parkingother
Road Surface TypePaved
Water SourcePublic, Pvt Well (Registered)

Additional Details

Price History

Connect Realty

Price $3,500,000
MLS#22621896
List Date 09/09/2026
Property Type Commercial
Phone 888.795.6274
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Request Info
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