Duplex With Guest
For Sale
$400,000
1134 N 6th Ave, Tucson, AZ 85705
Three-unit residential property with one occupied unit and two spaces undergoing remodeling.
Property Size1,234 SF
Price / SF$324.15
Days on Market42
Property Features for 1134 N 6th Ave
General Information
Standard status
Active
Size
1,234 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
fix-ups
Additional Details
Multifamily Units
3
Building Details
Year Built
1945
Listing Agency:
Long Realty
(520) 444-4411
Listed By:
Rob Lamb · License #SA042168000
Source:
Azonthemove
Added: Jul 21
Changed: Aug 27
Last Checked: Aug 30 at 7:20PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Long Realty
Investment Insights
Based on property information with market context.
This Tucson residential property contains a duplex and a separate guest house, creating three total units. The duplex measures 913 SF and includes an additional 240+/- SF attic, while the guest house contains 322 SF. The North Unit and guest house are being remodeled, and the South Unit is occupied. The guest house is currently vacant.
The property is located at 1134 N 6th Ave in Tucson, near Downtown, Pima Community College, and the University of Arizona. The 1945-built improvements offer a combination of existing occupancy and unfinished residential spaces within a compact multifamily configuration.
The property is located at 1134 N 6th Ave in Tucson, near Downtown, Pima Community College, and the University of Arizona. The 1945-built improvements offer a combination of existing occupancy and unfinished residential spaces within a compact multifamily configuration.
Key Highlights
- Three total units: a duplex plus a separate guest house
- 913 SF duplex with an additional 240+/- SF attic
- 322 SF guest house, currently vacant and undergoing remodeling
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
$11,920
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
2.98%
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%
$238,400
$238.4K
Cap Rate 7%
$170,286
$170.3K
Cap Rate 9%
$132,444
$132.4K
Market Conditions
NOI Build-Up for 1,234 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
$18.5K $15.00/SF
− Vacancy
−$1.5K −$1.20/SF
EGI
$17.0K $13.80/SF
− OpEx
−$5.1K −$4.14/SF
NOI
$11.9K $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%
$238,400
Cap Rate 7%
$170,286
Cap Rate 9%
$132,444
Alternative Uses
Best Use
Multifamily LT 5
$170.3K
$149.0K – $198.7K
NOI $11,920 @ 7.0% cap · market cap 2.98%
Second Best
Apartment 5plus
$154.5K
$135.2K – $180.3K
NOI $10,815 @ 7.0% cap · market cap 2.70%
Theoretical Best
Office A
$284.0K
$248.5K – $331.3K
NOI $19,877 @ 7.0% cap · market cap 4.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,480
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Three-unit residential property with one occupied unit and two spaces undergoing remodeling.
Where is this duplex located?
The property is located at 1134 N 6th Ave Tucson, AZ.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Three total units: a duplex plus a separate guest house; 913 SF duplex with an additional 240+/- SF attic; 322 SF guest house, currently vacant and undergoing remodeling
