2740 Balboa AveTucson, AZ 85705

Property Details for 2740 Balboa Ave

Lot size

2.48 AC

Property type

Mixed-use properties

Property subtype

Other mixed-use properties

Description

This exceptional 58-unit mixed-use property, located at 2740 N Balboa Ave in Tucson, Arizona, presents a compelling value-add investment opportunity. Situated on a spacious 2.48-acre lot, this gated community offers a secure and private living environment for tenants. The property currently features classic interiors, presenting a significant opportunity for upgrading and increasing rental income. Recent improvements include a complete interior turnover of select units, a resurfaced pool, the addition of a second on-site laundry room, and fresh exterior paint. Upgrading the existing units is projected to yield a substantial rental premium of $300-$400 per unit compared to similar properties in the area. The property is listed at $5,365,000 and presents a strong potential for significant return on investment through strategic renovations and lease adjustments. The property's location in central Tucson provides convenient access to local amenities, transportation, and employment centers. The square footage of the building is not currently available. This is a rare opportunity to acquire a well-positioned multifamily asset with considerable upside potential in a thriving Tucson market. The property's size and existing improvements make it an attractive investment for both seasoned and emerging real estate investors.

Location Insight

City

Tucson

County

04019

State

Arizona

Latitude

32.2567

Longitude

-110.976

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