Two-Unit Bungalow
For Sale
$235,000
231 W Illinois Street, Tucson, AZ 85714
Residential Income, Bungalow, Tucson, AZ
Property Size1,293 SF
Lot Size0.17 Acres
Price / SF$181.75
Days on Market58
Property Features for 231 W Illinois Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Tucson - R2
Parking
2
Fencing
Chain Link
Appliances
Gas Range, Disposal
Subdivision
National City NO. 4
Lot features
Decorative Gravel, North/ South Exposure
Elementary school
Hollinger
Middle school
Utterback-Magnet
High school
Pueblo
Elementary school district
TUSD
Middle school district
TUSD
High school district
TUSD
Directions
Head east on W Ajo Way towards S 6th Ave, turn right onto S 6th Ave, turn right onto W Illinois St, turn left onto S 7th St, turn right onto W Illinois St
Standard status
Active
APN
120-08-1980
Size
1,293 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
National City No 4 Lot 6 Exc S7.5' For Alley Blk 65
Legal Description
National City No 4 Lot 6 Exc S7.5' For Alley Blk 65
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Central Air
Water source
Public
Amenities
washer and dryer hookups
Building Details
Year built
1946
Number of units
2
Flooring type
Tile - Ceramic
Building materials
Masonry Stucco
Roof type
Shingle
Architectural style
Bungalow
Listing Agency:
Century 21 Indie Realty
(520) 777-8973
Listed By:
Eduardo Enrique Rosano · License #54583
(520) 869-2376
Added: Aug 10
Changed: Oct 6
Last Checked: Oct 6 at 7:06PM
MLS# 22619450
Copyright © 2026 Multiple Listing Service of Southern Arizona. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1946, this 1,293-square-foot bungalow duplex contains two units: one with a bedroom and bath, and another with two bedrooms and a bath. One unit is occupied; the other was recently refreshed with new carpet in the bedrooms. Washer and dryer hookups are provided. The property has ceramic tile flooring, central air, heat pump heating, a shingle roof, and masonry stucco construction.
The parcel covers 0.17 acres and is zoned Tucson - R2. The property’s reported metrics include a 6.98% cap rate and 10.4 GRM.
The parcel covers 0.17 acres and is zoned Tucson - R2. The property’s reported metrics include a 6.98% cap rate and 10.4 GRM.
Key Highlights
- Two units: one 1‑bedroom, 1‑bath unit and one 2‑bedroom, 1‑bath unit
- 1,293 square feet on a 0.17‑acre parcel
- 6.98% cap rate and 10.4 GRM
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,489
Cap Rate
6.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$289,780
$289.8K
Cap Rate 7%
$206,986
$207.0K
Cap Rate 9%
$160,989
$161.0K
Market Conditions
NOI Build-Up for 1,293 SF
Gross rent
$22.5K $17.40/SF
− Vacancy
−$1.8K −$1.39/SF
EGI
$20.7K $16.01/SF
− OpEx
−$6.2K −$4.80/SF
NOI
$14.5K $11.21/SF
Area
Tucson, AZ
Vacancy
8.00%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$289,780
Cap Rate 7%
$206,986
Cap Rate 9%
$160,989
Alternative Uses
Best Use
Multifamily LT 5
$207.0K
$181.1K – $241.5K
NOI $14,489 @ 7.0% cap · market cap 6.17%
Second Best
Apartment 5plus
$189.8K
$166.1K – $221.4K
NOI $13,286 @ 7.0% cap · market cap 5.65%
Theoretical Best
Office A
$335.9K
$293.9K – $391.9K
NOI $23,512 @ 7.0% cap · market cap 10.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
725
Businesses Nearby
Explore this area
Business Placement
Demographics for 85714, AZ
14,232
Population
5,589
Households
2.5
Avg Household Size
38
Median Age
10%
College-Educated
69%
High-School Grad
5.6 sq mi
ZIP Area
2,541
Density / Sq Mi
$47,093
Median Household Income
$30,204
Median Earnings
$879
Median Rent
$177,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Separate one- and two-bedroom layouts offer rental configurations, with washer and dryer hookups in the property.
Where is this duplex located?
The property is located at 231 W Illinois Street Tucson, AZ.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: Two units: one 1‑bedroom, 1‑bath unit and one 2‑bedroom, 1‑bath unit; 1,293 square feet on a 0.17‑acre parcel; 6.98% cap rate and 10.4 GRM
