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$3,500,000
1 Day On Site

1490 E Prospect Lane
Tucson, AZ 85719

For Sale|Commercial Sale|Active
0
Beds
0
Total Baths
11,942
SqFt
$293
/SqFt
1956
Built
County:
Pima
Call Now: 520-257-1167
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520-257-1167
1490 E Prospect Lane1490 E Prospect Lane1490 E Prospect Lane1490 E Prospect Lane
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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 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.

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Listing Snapshot
Price 
$3,500,000
Days On Site 
1 Day
Bedrooms 
N/A
Inside Area (SqFt) 
11,942 sqft
Total Baths 
N/A
Full Baths 
N/A
Partial Baths 
N/A
Lot Size 
2.67 Acres
Year Built 
1956
MLS® Number 
22621896
Status 
Active
Property Tax 
$10,782.27
HOA/Condo/Coop Fees 
N/A
Sq Ft Source 
Assessor
Friends & Family
Recent Activity
yesterdayListing first seen on site
yesterdayListing updated with changes from the MLS®
General Features
Acres 
2.67
Disclosures 
Lead Based Paint
Sewer 
Septic Tank
SqFt Total 
11942
Utilities 
Natural Gas Available
Water Source 
PublicWellPrivate
Zoning 
Tucson - MH1
Interior Features
Heating 
Other
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Exterior Features
Construction Details 
Adobe
Lot Features 
Few Trees
Community Features
MLS Area 
Central
Financing Terms Available 
CashConventional
Roads 
Paved
Listing courtesy of Griggs's Group Powered by The Altman Brothers



The data relating to real estate listings on this website comes in part from the Internet Data Exchange (IDX) program of the Multiple Listing Service of Southern Arizona. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in Listings provided by brokerages other than Listing courtesy of Griggs's Group Powered by The Altman Brothers : are identified with the MLSSAZ IDX Logo. Listing information Copyright 2026 MLS of Southern Arizona. All Rights Reserved.

Last checked 2026-09-11 04:19 AM MST

Neighborhood & Commute
Source: Walkscore
Disclosure: Community information and market data powered by Constellation Data Labs. Information is deemed reliable but not guaranteed.
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