Newly Built Triplex with Open
For Sale
$625,000
2310 W Diamond Street, Tucson, AZ 85705
Tucson, AZ
Property Size3,524 SF
Price / SF$177.36
Days on Market64
Property Features for 2310 W Diamond Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Subdivision
Other/Unknown
Elementary school
Laguna
Middle school
Flowing Wells
High school
Flowing Wells
Standard status
Active
Size
3,524 SF
Building Details
Year built
2026
Listing Agency:
Engel & Volkers Tucson · Engel & Völkers
(520) 201-0000
Listed By:
Brenden Urias Buono · License #SA704378000
(520) 954-5800
Added: Jul 25
Changed: Aug 19
Last Checked: Sep 26 at 2:06AM
MLS# 22618246
Copyright © 2026 Engel & Völkers. 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.
Completed in 2026, this 3,524-square-foot triplex combines a duplex with a single-family home in one three-unit property. The residences feature open-concept interiors, tile flooring, white cabinetry, granite countertops, stainless steel appliances, and dedicated laundry closets. Spray-foam insulation was used throughout the construction for improved energy performance and year-round comfort.
Located at 2310 W Diamond Street in Tucson, Arizona, the property offers a flexible configuration for operating all three residences as rental units or occupying one while leasing the others. Four triplexes are available at this location, providing a multi-unit format with modern finishes and newly completed construction.
Located at 2310 W Diamond Street in Tucson, Arizona, the property offers a flexible configuration for operating all three residences as rental units or occupying one while leasing the others. Four triplexes are available at this location, providing a multi-unit format with modern finishes and newly completed construction.
Key Highlights
- Newly built in 2026
- 3,524 square feet across a duplex and single‑family home
- Three‑unit configuration with open‑concept layouts
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$34,042
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.45%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$680,840
$680.8K
Cap Rate 7%
$486,314
$486.3K
Cap Rate 9%
$378,244
$378.2K
Market Conditions
NOI Build-Up for 3,524 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$52.9K $15.00/SF
− Vacancy
−$4.2K −$1.20/SF
EGI
$48.6K $13.80/SF
− OpEx
−$14.6K −$4.14/SF
NOI
$34.0K $9.66/SF
Area
ZIP 85705
Vacancy
8.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$680,840
Cap Rate 7%
$486,314
Cap Rate 9%
$378,244
Alternative Uses
Best Use
Multifamily LT 5
$486.3K
$425.5K – $567.4K
NOI $34,042 @ 7.0% cap · market cap 5.45%
Second Best
Apartment 5plus
$441.2K
$386.1K – $514.8K
NOI $30,885 @ 7.0% cap · market cap 4.94%
Theoretical Best
Office A
$810.9K
$709.6K – $946.1K
NOI $56,764 @ 7.0% cap · market cap 9.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
526
Businesses Nearby
Explore this area
Business Placement
Demographics for 85705, AZ
56,711
Population
29,145
Households
1.9
Avg Household Size
36
Median Age
20%
College-Educated
80%
High-School Grad
13.6 sq mi
ZIP Area
4,170
Density / Sq Mi
$36,606
Median Household Income
$27,220
Median Earnings
$924
Median Rent
$113,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit property pairs a duplex with a single-family residence and modern interior finishes.
Where is this triplex located?
The property is located at 2310 W Diamond Street Tucson, AZ.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Newly built in 2026; 3,524 square feet across a duplex and single‑family home; Three‑unit configuration with open‑concept layouts
