$3,500,000
1490 E PROSPECT Lane
Tucson, AZ 85719
MLS# 7099093
9352 sqft


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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 famil

Details
Contract Info
Current Price: $3,500,000
List Price: $3,500,000
Status: Active
List Date: 2026-10-27
Ownership: Fee Simple
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
General Property Description
Ttl Apx SqFt Bldg: 9352
# of Buildings: 6
Year Built: 1956
Uncvrd Parking Spcs: 10
Zoning: Tucson - MH1
Legal Info
Township: 13
Range: 14
Section: 19
Lot Number: Unknown
Showing Notification Methods
Showing Service: No Showing Service Used
Remarks Misc
Cross Street: N Mountain Ave & E Prospect Lane
Directions: Enter from west side of 1453 E Limberlost, meet at gate.
Geo Lat: 32.28438
Geo Lon: -110.94985
Income Expenses
Gross Annual Sch Inc: 246000
Property Features
Building Type: Other (See Remarks)
Business Type: Other
Construction: Other
Roofing: Built-Up; Tile
Floors: Concrete; Sealed; Other
Ceiling Height: 8.1 Feet to 10 Feet; 10.1 Feet to 12 Feet; 12.1 Feet to 14 Feet
Heating: Natural Gas
Cooling: Central Air
Loading Facilities: None
Interior Features: Finished
Fencing: Other
Parking Features: Private
Electric: Other (See Remarks)
Gas: SW Gas
Water Source: Private; Domestic Well
Sewer: Septic Tank
New Financing: Cash Only; Other (See Remarks)
Showing Notification Methods: Text; Email; Phone Call
Lockbox Type: None
Source of Fincl Data: Owner
Environmental: None
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 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.

IDX
Listing Office: Grigg's Group Powered by The Altman Brothers

Office Phone: 480-788-0929

Office Email: [email protected]

Last Updated: October - 27 - 2026

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