1490 E PROSPECT Lane, Tucson, AZ 85719

$3,500,000
Property Type: Multiple Dwellings Bedrooms: 16 Baths: 16 Status: Active
Current Price: $3,500,000 Last Modified: 10/27/2026

Overview

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

Supplements: 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 centra ...

Listing Details MLS# 7099053

Location, Tax & Legal

House Number
1490
Compass
E
Street Name
PROSPECT
St Suffix
Lane
City/Town Code
Tucson
State/Province
AZ
Zip Code
85719
Zip4
1125
Country
US
County Code
Pima
Assessor Number
108-21-021-H
Tax Year
2025

Contract Info

Ownership
Fee Simple

General Property Description

Lot Size Dimensions
IRR
Year Built
1956
Uncvrd Parking Spcs
10
Total # of Units
9
# of Buildings
6
Zoning
Tucson - MH1
Elementary School District
Amphitheater Unified District
High School District
Amphitheater Unified District
Elementary School
Rio Vista Elementary School
Jr. High School
Amphitheater Middle School
High School
Amphitheater High School

Remarks Misc

Cross Street
N Mountain Ave & E Prospect Lane
Directions
Enter from west side of 1453 E Limberlost, meet at gate.

Legal Info

Township
13
Range
14
Section
19
Lot Number
unknown

Efficiency Units

# Efficiency Units
3
# Baths
Yes

More Information

2 Bedroom Units

# 2 Bedroom Units
5
# Baths
2

3 Bedrooms Units

# 3 Bedroom Units
Yes
# Baths
3

Structure

Bedrooms Total
16
Bathrooms Total
16

Income Expenses

Gross Annual Sch Inc
246000

Showing Notification Methods

Showing Service
No Showing Service Used

Property Features

Project Type: 5 - 12 Units Construction: Adobe Const - Finish: Other (See Remarks) Roofing: Built-Up; Tile Floors: Concrete; Sealed; Other Sale Includes: Land & Building; Personal Property; Pool Equipment; Laundry Equipment Community Features: Pool; Spa(s); Play Area Exterior Amenities: Desert Landscaping Appliances Included: Built-In Electric Oven; Built-In Range; Free-Standing Range; Refrigerator; Microwave Heating: Natural Gas Cooling: Central Air Water Source: Private; Domestic Well Sewer: Septic Tank Electric: City Electric Gas: SW Gas Parking Features: Carport Road Surface Type: Asphalt Owner Pays: Water; Electric; Gas; Trash Collection; Landscaping; Pool Maintenance Tenant Pays: Electricity Source of Fincl Data: Owner; Books Shwn Accpt Ofr Showing Notification Methods: Text; Email; Phone Call Lockbox Type: None New Financing: Cash; Conventional Environmental: None
IDX
Listing Office: Grigg's Group Powered by The Altman Brothers
Office Phone: 480-788-0929
Office Email: azfineproperties@cox.net
Last Updated: October - 27 - 2026
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