Turnkey Renovated Fourplex
For Sale
$799,000
2876-2882 N Edith Boulevard, Tucson, AZ 85716
MULTI_FAMILY - Contemporary - Tucson, AZ
Property Size3,702 SF
Lot Size0.13 Acres
Price / SF$215.83
Days on Market44
Property Features for 2876-2882 N Edith Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
Tucson - R2
Parking
8
Appliances
Gas Range, Dishwasher
Subdivision
Granada Park Resub
Lot features
Corner Lot
Elementary school
Davidson
Middle school
Doolen
High school
Catalina
Elementary school district
TUSD
Middle school district
TUSD
High school district
TUSD
Directions
Glenn/Country Club, East to Edith, North to address
Standard status
Active
APN
11106391B
Size
3,702 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
GRANADA PARK RESUB OF S2 OF BLOCK 2 & BLOCKS 4 5 6 & 7 S50' OF N100' OF LOT 5 BLK 7 (11272/1560 TWO legals
Legal Description
GRANADA PARK RESUB OF S2 OF BLOCK 2 & BLOCKS 4 5 6 & 7 S50' OF N100' OF LOT 5 BLK 7 (11272/1560 TWO legals
Utilities
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1964
Number of units
4
Flooring type
Tile - Ceramic
Building materials
Brick
Roof type
Built-Up
Architectural style
Contemporary
Listing Agency:
Real Broker
(602) 755-3415
Listed By:
Andrew L Fitzpatrick
(520) 207-0903
Added: Jul 10
Changed: Jul 18
Last Checked: Aug 22 at 6:06PM
MLS# 22617063
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 fully renovated fourplex offers four vacant units and a configuration that includes two 2-bedroom, 1-bath units and two 3-bedroom, 1.5-bath units. Renovations include brand-new kitchens with quartz countertops, stainless steel appliances, tile flooring throughout, new windows, new HVAC systems, and a new roof, along with additional upgrades. The property also includes on-site laundry, plus oversized, fully enclosed private yards with the two 3-bedroom units.
The property is located in Tucson, AZ 85716, and is identified as zoned R2. Utilities are separately metered with four gas meters and four electric meters, which can help simplify utility management for the property.
With all units updated and ready for occupancy, this fourplex provides a turnkey setup for an owner-occupant or investor looking to lease immediately.
The property is located in Tucson, AZ 85716, and is identified as zoned R2. Utilities are separately metered with four gas meters and four electric meters, which can help simplify utility management for the property.
With all units updated and ready for occupancy, this fourplex provides a turnkey setup for an owner-occupant or investor looking to lease immediately.
Key Highlights
- Fully renovated fourplex with all four units currently vacant for immediate leasing or owner‑occupant use
- Unit mix: two 2‑bed/1‑bath units and two 3‑bed/1.5‑bath units
- Brand‑new kitchens with quartz countertops and stainless steel appliances, plus tile - ceramic flooring throughout
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
$41,483
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
5.19%
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%
$829,660
$829.7K
Cap Rate 7%
$592,614
$592.6K
Cap Rate 9%
$460,922
$460.9K
Market Conditions
NOI Build-Up for 3,702 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
$64.4K $17.40/SF
− Vacancy
−$5.2K −$1.39/SF
EGI
$59.3K $16.01/SF
− OpEx
−$17.8K −$4.80/SF
NOI
$41.5K $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%
$829,660
Cap Rate 7%
$592,614
Cap Rate 9%
$460,922
Alternative Uses
Best Use
Multifamily LT 5
$592.6K
$518.5K – $691.4K
NOI $41,483 @ 7.0% cap · market cap 5.19%
Second Best
Apartment 5plus
$543.4K
$475.5K – $634.0K
NOI $38,039 @ 7.0% cap · market cap 4.76%
Theoretical Best
Office A
$961.7K
$841.5K – $1.12M
NOI $67,318 @ 7.0% cap · market cap 8.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
861
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 - Renovated fourplex with four vacant units, in-unit upgrades, and separately metered gas and electric services.
Where is this quadplex located?
The property is located at 2876-2882 N Edith Boulevard Tucson, AZ.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Fully renovated fourplex with all four units currently vacant for immediate leasing or owner‑occupant use; Unit mix: two 2‑bed/1‑bath units and two 3‑bed/1.5‑bath units; Brand‑new kitchens with quartz countertops and stainless steel appliances, plus tile - ceramic flooring throughout
