Quadplex with Mixed Unit
For Sale
$545,000
3931 E Paseo Dorado, Tucson, AZ 85711
Residential Income, Ranch, Tucson, AZ
Property Size1,810 SF
Lot Size0.18 Acres
Price / SF$301.10
Days on Market54
Property Features for 3931 E Paseo Dorado
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
Tucson - R1
Appliances
Electric Range
Subdivision
San Gabriel
Lot features
Decorative Gravel, Subdivided
Elementary school
Lineweaver
Middle school
Vail
High school
Rincon
Elementary school district
TUSD
Middle school district
TUSD
High school district
TUSD
Directions
Broadway and Alvernon, south to Paseo Dorado, east to address
Standard status
Active
APN
126-17-1350
Size
1,810 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
From Parcel:001010010 /San Gabriel E54' Lot 11 Blk 9
Legal Description
From Parcel:001010010 /San Gabriel E54' Lot 11 Blk 9
Utilities
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1946
Number of units
4
Flooring type
Tile - Ceramic
Building materials
Masonry Stucco
Roof type
Built-Up
Architectural style
Ranch
Listing Agency:
United Real Estate Specialists
(520) 612-7422
Listed By:
Victor J Cabibo · License #37834
(973) 934-2100
Added: Jul 24
Changed: Sep 14
Last Checked: Sep 15 at 3:06AM
MLS# 22618145
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 1,810-square-foot quadplex contains three air-conditioned studio units and one two-bedroom home. The residential improvements feature masonry stucco construction, ceramic tile flooring, a built-up roof, and a ranch-style design dating to 1946. Heating is provided by natural gas and forced air, while cooling includes central air. An electric range is included, and the property is served by public water.
The 0.18-acre property is located in Tucson near shopping, Randolph Park, and the University of Arizona. Zoning is Tucson - R1. The four-unit configuration provides a combination of studio and two-bedroom residential layouts within one income-property asset.
The 0.18-acre property is located in Tucson near shopping, Randolph Park, and the University of Arizona. Zoning is Tucson - R1. The four-unit configuration provides a combination of studio and two-bedroom residential layouts within one income-property asset.
Key Highlights
- Four‑unit layout with three studio apartments and one 2‑bedroom home
- 1,810 square feet on a 0.18‑acre parcel
- Tucson - R1 zoning
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
$20,282
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
3.72%
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%
$405,640
$405.6K
Cap Rate 7%
$289,743
$289.7K
Cap Rate 9%
$225,356
$225.4K
Market Conditions
NOI Build-Up for 1,810 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
$31.5K $17.40/SF
− Vacancy
−$2.5K −$1.39/SF
EGI
$29.0K $16.01/SF
− OpEx
−$8.7K −$4.80/SF
NOI
$20.3K $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%
$405,640
Cap Rate 7%
$289,743
Cap Rate 9%
$225,356
Alternative Uses
Best Use
Multifamily LT 5
$289.7K
$253.5K – $338.0K
NOI $20,282 @ 7.0% cap · market cap 3.72%
Second Best
Apartment 5plus
$265.7K
$232.5K – $310.0K
NOI $18,598 @ 7.0% cap · market cap 3.41%
Theoretical Best
Office A
$470.2K
$411.4K – $548.6K
NOI $32,914 @ 7.0% cap · market cap 6.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
414
Businesses Nearby
Explore this area
Business Placement
Demographics for 85711, AZ
41,518
Population
19,774
Households
2.1
Avg Household Size
39
Median Age
30%
College-Educated
88%
High-School Grad
8.6 sq mi
ZIP Area
4,828
Density / Sq Mi
$52,358
Median Household Income
$35,130
Median Earnings
$1,001
Median Rent
$248,600
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Income property with three studio units and a separate two-bedroom residence in a masonry stucco ranch-style building.
Where is this quadplex located?
The property is located at 3931 E Paseo Dorado Tucson, AZ.
What is the asking price?
The asking price for this property is $545,000.
What are key features of this property?
This property features: Four‑unit layout with three studio apartments and one 2‑bedroom home; 1,810 square feet on a 0.18‑acre parcel; Tucson - R1 zoning
