Updated Ranch
For Sale
$329,900
353 E Alturas Street, Tucson, AZ 85705
Residential Income, Ranch, Tucson, AZ
Property Size1,752 SF
Lot Size0.15 Acres
Price / SF$188.30
Days on Market180
Property Features for 353 E Alturas Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Tucson - R2
Parking
2
Patio and Porch features
Patio
Exterior features
Courtyard
Appliances
Gas Range, Dishwasher, Disposal, Refrigerator
Subdivision
Coronado Heights
Lot features
East/ West Exposure
View
City
Elementary school
Keeling
Middle school
Amphitheater
High school
Amphitheater
Elementary school district
Amphitheater
Middle school district
Amphitheater
High school district
Amphitheater
Directions
Glenn St/1st Ave. west, Geronimo Avenue South, RT on Alturas to address. Drive by only. Do not disturb tenants.
Standard status
Active
APN
107-14-0670
Size
1,752 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Coronado Heights W55' E135' Lot 9 Blk 51
Legal Description
Coronado Heights W55' E135' Lot 9 Blk 51
Utilities
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
fenced yard
Building Details
Year built
1971
Number of units
2
Flooring type
Concrete, Vinyl
Building materials
Brick
Roof type
Rolled Hot Mop
Architectural style
Ranch
Listing Agency:
HomeSmart
(602) 230-7600
Listed By:
Kevin Andrew Simshauser
(949) 630-8385
Added: Feb 25
Changed: Aug 19
Last Checked: Aug 24 at 3:06AM
MLS# 22605228
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 ranch-style duplex contains two 2-bedroom, 1-bath units within 1,752 square feet. Built in 1971, the brick property has updated kitchens and bathrooms, newer windows, fresh paint, and concrete and vinyl flooring. Each residence includes gas-range, dishwasher, disposal, and refrigerator appliances, along with forced-air heating and central air conditioning.
The 0.15-acre lot provides a two-car carport, additional off-street parking, a fenced yard with mature desert landscaping, a courtyard, and a patio. Public water serves the property, which is zoned Tucson - R2. The address is in Tucson, Arizona, near the University of Arizona.
The 0.15-acre lot provides a two-car carport, additional off-street parking, a fenced yard with mature desert landscaping, a courtyard, and a patio. Public water serves the property, which is zoned Tucson - R2. The address is in Tucson, Arizona, near the University of Arizona.
Key Highlights
- Two 2‑bedroom, 1‑bath units totaling 1,752 square feet
- Updated kitchens, bathrooms, newer windows, fresh paint, and durable flooring
- Two‑car carport plus additional off‑street parking
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
$16,924
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
5.13%
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%
$338,480
$338.5K
Cap Rate 7%
$241,771
$241.8K
Cap Rate 9%
$188,044
$188.0K
Market Conditions
NOI Build-Up for 1,752 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
$26.3K $15.00/SF
− Vacancy
−$2.1K −$1.20/SF
EGI
$24.2K $13.80/SF
− OpEx
−$7.3K −$4.14/SF
NOI
$16.9K $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%
$338,480
Cap Rate 7%
$241,771
Cap Rate 9%
$188,044
Alternative Uses
Best Use
Multifamily LT 5
$241.8K
$211.6K – $282.1K
NOI $16,924 @ 7.0% cap · market cap 5.13%
Second Best
Apartment 5plus
$219.4K
$191.9K – $255.9K
NOI $15,355 @ 7.0% cap · market cap 4.65%
Theoretical Best
Office A
$403.2K
$352.8K – $470.4K
NOI $28,221 @ 7.0% cap · market cap 8.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
961
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two refreshed units with separate residential layouts, shared outdoor space, and convenient off-street parking.
Where is this duplex located?
The property is located at 353 E Alturas Street Tucson, AZ.
What is the asking price?
The asking price for this property is $329,900.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath units totaling 1,752 square feet; Updated kitchens, bathrooms, newer windows, fresh paint, and durable flooring; Two‑car carport plus additional off‑street parking
