Four-Unit Residential Income
For Sale
$999,900
2619 E Prince Road, Tucson, AZ 85716
Residential Income, Contemporary, Tucson, AZ
Property Size4,681 SF
Lot Size0.23 Acres
Price / SF$213.61
Days on Market110
Property Features for 2619 E Prince Road
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
Tucson - R1
Parking
5
Window features
Skylight(s), Double Pane Windows
Patio and Porch features
Patio
Interior features
Breakfast Bar, Kitchen Island, Walk-In Closet(s)
Exterior features
Barbecue, Courtyard, Fountain
Appliances
Desk, Double Sink, Electric Range, Dishwasher, Disposal
Lot features
Subdivided
Elementary school
Cragin
Middle school
Doolen
High school
Catalina
Elementary school district
TUSD
Middle school district
TUSD
High school district
TUSD
Directions
Tucson Blvd and Prince East to Address
Subdivision
Central
Standard status
Active
APN
112-01-073A
Size
4,681 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
S184.96' E68' W238' Se4 Sw4 Ne4 Exc Prince Rd .23 Ac Sec 29-13-14
Legal Description
S184.96' E68' W238' Se4 Sw4 Ne4 Exc Prince Rd .23 Ac Sec 29-13-14
Utilities
Sewer type
Septic Tank
Heating system
Wall Furnace, Floor Furnace
Cooling system
Central Air
Water source
Public
Amenities
shared courtyard
BBQ area
coin-operated laundry room
Building Details
Year built
1954
Number of units
4
Flooring type
Tile - Ceramic
Building materials
Burnt Adobe
Roof type
Built-Up
Architectural style
Contemporary
Listing Agency:
Realty Executives Arizona Territory · Realty Executives International
(520) 877-4940
Listed By:
Valerie Lovio
(520) 490-0367
Added: May 14
Changed: Aug 19
Last Checked: Aug 31 at 3:06AM
MLS# 22612422
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.
This contemporary four-unit residential income property includes four separate rental units and a shared courtyard area. Outdoor amenities include a BBQ area, and on-site laundry is coin-operated with a change machine for tenant convenience. The unit mix consists of a main 4-bedroom, 2.5-bath home, a separate studio unit with 1 bedroom and 1 bathroom, a 2-bedroom/1-bath unit with tile flooring and a private patio, and a fourth unit with 2 bedrooms and 2 bathrooms including a large primary suite with an attached office space.
The property is located in central Tucson on E Prince Road, in Tucson R1 zoning, in the 85716 area. It is positioned across from the Winterhaven neighborhood and is described as having close access to UMC, the University of Arizona, parks, shopping, and dining.
Each unit is served by dedicated off-street parking and carport access, supporting independent tenant arrangements within the shared courtyard and laundry common area.
The property is located in central Tucson on E Prince Road, in Tucson R1 zoning, in the 85716 area. It is positioned across from the Winterhaven neighborhood and is described as having close access to UMC, the University of Arizona, parks, shopping, and dining.
Each unit is served by dedicated off-street parking and carport access, supporting independent tenant arrangements within the shared courtyard and laundry common area.
Key Highlights
- Four rental units in a contemporary 1954‑built Burnt Adobe property with a shared courtyard
- Main unit: 4 bedrooms, 2.5 bathrooms, approx. 1,850 SF, with breakfast bar and kitchen island
- Separate studio unit: 1 bedroom, 1 bathroom, approx. 500 SF, with gas stove and full bath
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
$52,453
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
5.25%
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%
$1,049,060
$1.0M
Cap Rate 7%
$749,329
$749.3K
Cap Rate 9%
$582,811
$582.8K
Market Conditions
NOI Build-Up for 4,681 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
$81.4K $17.40/SF
− Vacancy
−$6.5K −$1.39/SF
EGI
$74.9K $16.01/SF
− OpEx
−$22.5K −$4.80/SF
NOI
$52.5K $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 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%
$1,049,060
Cap Rate 7%
$749,329
Cap Rate 9%
$582,811
Alternative Uses
Best Use
Multifamily LT 5
$749.3K
$655.7K – $874.2K
NOI $52,453 @ 7.0% cap · market cap 5.25%
Second Best
Apartment 5plus
$687.1K
$601.2K – $801.7K
NOI $48,099 @ 7.0% cap · market cap 4.81%
Theoretical Best
Office A
$1.22M
$1.06M – $1.42M
NOI $85,121 @ 7.0% cap · market cap 8.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,375
Businesses Nearby
Explore this area
Business Placement
Demographics for 85716, AZ
31,521
Population
19,025
Households
1.7
Avg Household Size
39
Median Age
42%
College-Educated
92%
High-School Grad
7.2 sq mi
ZIP Area
4,378
Density / Sq Mi
$47,009
Median Household Income
$33,367
Median Earnings
$1,021
Median Rent
$300,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four separate rental units with dedicated off-street parking and carport access, plus a shared courtyard and coin laundry.
Where is this quadplex located?
The property is located at 2619 E Prince Road Tucson, AZ.
What is the asking price?
The asking price for this property is $999,900.
What are key features of this property?
This property features: Four rental units in a contemporary 1954‑built Burnt Adobe property with a shared courtyard; Main unit: 4 bedrooms, 2.5 bathrooms, approx. 1,850 SF, with breakfast bar and kitchen island; Separate studio unit: 1 bedroom, 1 bathroom, approx. 500 SF, with gas stove and full bath
