For Sale
$471,000

4000 15Th Ave Tucson, AZ 85714

Two-unit apartment building, excellent ROI.

Overview

Added:
Dec 11, 2024
Days on market:
137
This stabilized, Class B multifamily investment property, known as Casitas on 15th, presents a compelling opportunity for investors seeking strong returns. Located at 4000 S 15th Ave, Tucson, AZ 85714, this property boasts two buildings, each a single-story structure, built in 1961 and renovated in 2020, situated on an 8,900 square foot lot. The property features two apartment units, a 3-bedroom/2-bathroom unit and a 2-bedroom/1-bathroom unit, totaling 2,300 net rentable square feet. Each unit includes laundry hookups, and the larger unit offers a carport. The property enjoys a 100% occupancy rate, generating a Net Operating Income (NOI) of $32,788, resulting in a 6.90% capitalization rate. The asking price is $471,000, translating to $216 per square foot and $471,000 per unit. Three parking spaces are available for residents. The property is zoned R3 and benefits from its proximity to major roadways (I-19) and a wide array of retail amenities including Sprouts, Home Depot, Michaels, and numerous restaurants, all within a mile radius. The property is not subject to a ground lease and is currently available for sale. The occupancy date is October 10, 2024.

Highlights

  • Class B multifamily investment property in Tucson, AZ.
  • Two single-story buildings on an 8,900 sq ft lot, built in 1961, renovated in 2020.
  • Two units (3/2 and 2/1), totaling 2,300 net rentable sq ft, with laundry hookups and carport.
  • 100% occupancy, $32,788 NOI, 6.90% cap rate, $471,000 asking price.
  • Located near I-19 and major retail amenities.
  • R3 zoning, no ground lease.

Property Details for 4000 15Th Ave

Property type
Apartment buildings
Square Feet
2,100 SF
Class
B
Year Built/Renovated
1961/2020
Buildings
2
Stories
1
Units
2

Location Insight

City
Tucson
County
Pima
State
Arizona
Latitude
32.1757283
Longitude
-110.9811825

FAQs

What type of property is this?
Apartment building - Two-unit apartment building, excellent ROI.
Where is the apartment building located?
The property is located at 4000 15Th Ave Tucson, AZ.
What is the asking price?
The asking price for this property is $471,000.
What are key features of this property?
This property features: Class B multifamily investment property in Tucson, AZ.; Two single-story buildings on an 8,900 sq ft lot, built in 1961, renovated in 2020.; Two units (3/2 and 2/1), totaling 2,300 net rentable sq ft, with laundry hookups and carport.
How can I contact the broker?
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4000 15Th Ave
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