Updated Triplex
For Sale
$349,000
1302 N Dodge Boulevard, Tucson, AZ 85716
MULTI_FAMILY - Ranch - Tucson, AZ
Property Size1,699 SF
Lot Size0.16 Acres
Price / SF$205.41
Days on Market102
Property Features for 1302 N Dodge Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
Tucson - R2
Parking
3
Patio and Porch features
Patio
Appliances
Electric Range, Gas Range
Subdivision
Speedway Park
Lot features
East/ West Exposure
View
City
Elementary school
Wright
Middle school
Doolen
High school
Catalina
Elementary school district
TUSD
Middle school district
TUSD
High school district
TUSD
Directions
Speedway/Dodge, North to property address
Standard status
Active
APN
122-18-2010
Size
1,699 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Speedway Park S60' Lot 5 Blk 10
Legal Description
Speedway Park S60' Lot 5 Blk 10
Utilities
Heating system
Electric (Heating), Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Amenities
laundry hookups
air conditioning and heating
Building Details
Year built
1946
Number of units
3
Flooring type
Carpet, Vinyl
Building materials
Block
Roof type
Built-Up
Architectural style
Ranch
Additional Structures
Kennel/Dog Run
Listing Agency:
Tierra Antigua Realty
(520) 544-2335
Listed By:
Carlos Taplin
(520) 331-8351
Added: May 12
Changed: Aug 18
Last Checked: Aug 21 at 5:06PM
MLS# 22612291
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 triplex offers 1,699 square feet of living area in three residences: a two-bedroom, one-bath unit, a one-bedroom, one-bath unit, and a detached one-bedroom, one-bath unit. Built in 1946 with solid block construction, the property includes newer HVAC, flooring, and cabinets. Each residence has air conditioning, heat, and its own laundry hookups. A patio, public water service, built-up roofing, and a combination of vinyl and carpet flooring are also present. The property is tenant occupied.
The property is located in central Tucson, approximately a 10-minute drive from the University of Arizona and two blocks from the bus line. The surrounding area includes The Loft theater, Whole Foods, restaurants, and coffee shops. Zoning is Tucson - R2.
The property is located in central Tucson, approximately a 10-minute drive from the University of Arizona and two blocks from the bus line. The surrounding area includes The Loft theater, Whole Foods, restaurants, and coffee shops. Zoning is Tucson - R2.
Key Highlights
- Three‑unit layout: 2/1, 1/1, and detached 1/1
- 1,699 square feet on 0.16 acres
- Each unit includes A/C, heat, and separate laundry hookups
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
$19,038
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
5.46%
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%
$380,760
$380.8K
Cap Rate 7%
$271,971
$272.0K
Cap Rate 9%
$211,533
$211.5K
Market Conditions
NOI Build-Up for 1,699 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
$29.6K $17.40/SF
− Vacancy
−$2.4K −$1.39/SF
EGI
$27.2K $16.01/SF
− OpEx
−$8.2K −$4.80/SF
NOI
$19.0K $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%
$380,760
Cap Rate 7%
$271,971
Cap Rate 9%
$211,533
Alternative Uses
Best Use
Multifamily LT 5
$272.0K
$238.0K – $317.3K
NOI $19,038 @ 7.0% cap · market cap 5.46%
Second Best
Apartment 5plus
$249.4K
$218.2K – $291.0K
NOI $17,458 @ 7.0% cap · market cap 5.00%
Theoretical Best
Office A
$441.4K
$386.2K – $514.9K
NOI $30,895 @ 7.0% cap · market cap 8.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,131
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Central Tucson triplex with three residences, separate laundry hookups, and tenant occupancy.
Where is this triplex located?
The property is located at 1302 N Dodge Boulevard Tucson, AZ.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Three‑unit layout: 2/1, 1/1, and detached 1/1; 1,699 square feet on 0.16 acres; Each unit includes A/C, heat, and separate laundry hookups
