For Sale
$2,550,000

2559 Tucson BlvdTucson, AZ 85716

26-unit apartment building, prime location

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional 26-unit apartment building presents a compelling investment opportunity in Tucson, Arizona. Located at 2559 N Tucson Blvd, this well-maintained property boasts 15,502 square feet on a 0.68-acre lot, offering a compelling 6.93% cap rate and a strong NOI of $176,730. The building, constructed in 1986, features a desirable U-shaped design centered around a refreshing pool. The two-story structure comprises 24 single-bedroom and 2 two-bedroom units, each equipped with a balcony or patio, a full kitchen, and air conditioning. Ample parking is provided with 10 covered spaces and 16 surface spots, supplemented by convenient side street parking. On-site laundry facilities add to the convenience. The property's prime location, just 1.5 miles from the University of Arizona, ensures high occupancy rates and strong rental demand. Proximity to Grant Road and Tucson Boulevard provides easy access to public transportation, shopping, dining, and numerous amenities. Zoned Tucson R-3, this property offers significant value-add potential. The asking price is $2,550,000, translating to $98,077 per unit and $164.49 per square foot. This is a rare opportunity to acquire a well-positioned multifamily asset in a thriving Tucson neighborhood. The property features a total of 26 units.

Highlights

  • $2,550,000 asking price for a 26-unit apartment building.
  • 6.93% cap rate with a $176,730 NOI.
  • 15,502 square feet on a 0.68-acre lot in Tucson, AZ.
  • 26 units, 24 one-bedroom and 2 two-bedroom, with balconies/patios, full kitchens, and AC.
  • Located near Grant Rd and Tucson Blvd, 1.5 miles from the University of Arizona.

Property Details for 2559 Tucson Blvd

Property type
Apartment buildings
Square Feet
15,502 SF
Year Built
1986
Stories
2
Lot Size (sq. ft)
29,621 SF
Units
26

Location Insight

City
Tucson
County
Pima
State
Arizona
Latitude
32.253988593855
Longitude
-110.93579734499
2559 Tucson Blvd, Tucson, Arizona

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2559 Tucson Blvd
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