4302 Bellevue StTucson, AZ 85712

Property Details for 4302 Bellevue St

Year built

1962

Property size (Sq ft)

14,310 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional multifamily investment opportunity presents a 27-unit apartment building located at 4302 E Bellevue St, Tucson, Arizona, 85712. Boasting 14,310 square feet of rentable space, this property offers a compelling value-add proposition. Built in 1962 and zoned R-3, the building features a desirable low-rise/garden configuration, enhancing its appeal to tenants. Each of the 27 units is a one-bedroom apartment. The property benefits from a convenient location near Downtown Tucson, providing easy access to the University of Arizona and Banner Health. Keypad entry enhances security. The exterior and common areas are well-maintained. The asking price is $3,375,000, representing a price per unit of $125,000. The property's strong financial performance is highlighted by a Pro-Forma NOI of $208,956 and a Pro-Forma Cap Rate of 6.19%. This presents a perfect opportunity for a 1031 exchange, offering significant potential for investors seeking a boutique property with substantial upside. The property's strong location, combined with its well-maintained condition and attractive unit configuration, makes it an ideal investment for those seeking a stable and growing income stream.

Location Insight

City

Tucson

County

Pima

State

Arizona

Latitude

32.2376

Longitude

-110.901

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