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$3,500,000
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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 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.
Full Property Details
Full Property Details for 1492 E Prospect
General
- Price: $3,500,000
- Taxes: $12,988 (2025)
- Status: Active
- Type: Single Family
- Source: MLSSAZ
- MLS ID: 22621699
Interior
- Interior Features: High Ceilings, Beamed Ceilings, Walk-In Closet(s), Entrance Foyer
- Fireplace: Yes
- Number of Fireplaces: 12
- Fireplace(s): Other, Wood Burning Stove
- Flooring: Other, Mexican Tile, Ceramic Tile, Stone
Rooms
Bathrooms
- Total Bathrooms: 16
- Full Bathrooms: 14
- Half Bathrooms: 2
Bedrooms
- Total Bedrooms: 16
Other Rooms
- Laundry: Other, Other
Additional Information
- Pool Description: Conventional, Heated
- Spa Description: Conventional
- Security/Safety: Security Gate
Exterior
- Exterior Features: Native Plants, Play Equipment, Courtyard
- Deck/Patio: Covered
- Porch/Patio/Deck: Covered
Parking
- Garage: Yes
- Attached garage: Yes
- Garage Spaces: 2
- Carport Spaces: 5
- Parking Features: Detached, Circular Driveway
Location
- Area: Central
- County: Pima
- Driving Directions: Enter from west side of 1453 E Limberlost, meet at gate.
School Information
- School District: Amphitheater
- High School District: Amphitheater
- Elementary School: Rio Vista
- Middle School: Amphitheater
- High School: Amphitheater
Community
- Community Name: None
Heating & Cooling
- Heating Type: Other
Utilities
- Sewer: Septic Tank
- Water: Public, Private, Well
- Utility Description: Sewer Connected
Structural Information
- Architectural Style: Territorial, Southwestern
- Construction Status: Existing
- Construction: Burnt Adobe, Stucco Finish
- Square Feet: 11,942
- Sq. Ft. Source: Assessor
- Living Area: 11,942 Sq. Ft.
- Year Built: 1956
Lot Features
- Property View: Mountain(s)
- Lot Size (Acres): 2.67
- Lot Size (Sq. Ft.): 112,843
- Lot Size Range: 14
- Lot Size Source: Assessor
- Lot Dimensions: Irr
- Street/Road Desc.: Paved
- Road Maintenance: City
- Fence: Yes
- Lot Features: Flower Beds, Shrubs, Sprinkler/Drip, Sprinklers In Front, North/South Exposure
- Zoning: Tucson - MH1
- Fencing (Description): Wrought Iron
Financial Considerations
- Tax Amount: $12,988
- Tax Year: 2025
- Terms: Conventional, Cash
Disclosures and Reports
- Ownership: Fee (Simple)
- Special Conditions: None
- Legal Description: See Attached Document
- Disclosures/Reports: Seller Prop Disclosure, Lead-Based Paint
- APN: 10821021H
Listed by Griggs's Group Powered by The Altman Brothers
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Schools
Schools serving 1492 E Prospect
School District:Amphitheater Unified District
| Name | Grades | Distance |
|---|---|---|
Rio Vista Elementary School, Tucson, AZ 1351 East Limberlost Drive, Tucson, AZ 85719 | K-5 | 0.1 mi |
Amphitheater Middle School 315 East Prince Road, Tucson, AZ 85705 | 6-8 | 1.3 mi |
Amphitheater High School 125 West Yavapai Road, Tucson, AZ 85705 | 9-12 | 1.8 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Estimate the Cost
Estimate the Cost for 1492 E Prospect
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1492 E Prospect, Tucson, AZ 85719 (MLS# 22621699) is a Single Family property with 16 bedrooms, 14 full bathrooms and 2 partial bathrooms. 1492 E Prospect is currently listed for $3,500,000 and was received on September 05, 2026. Want to learn more about 1492 E Prospect? Do you have questions about finding other Single Family real estate for sale in Central? You can browse all Central real estate or contact a Coldwell Banker agent to request more information.