Brick Triplex with Unit
For Sale
$579,000
1328 E Adams St, Tucson, AZ 85719
Three units include a three-bedroom home, one-bedroom apartment, and leased studio with separately metered electric service.
Property Size1,899 SF
Price / SF$304.90
Days on Market98
Property Features for 1328 E Adams St
General Information
Standard status
Active
Size
1,899 SF
Total Parking Spaces
5
Property subtype
Residential Income
Additional Details
Utilities to Site
Yes
Building Details
Buildings
1
Construction
brick
Tenancy
Multi
Listing Agency:
Long Realty
(520) 990-6485
Listed By:
Eliza Landon Dray · License #SA665514000
(520) 990-6485
Source:
Exprealty
Added: May 7
Changed: Aug 3
Last Checked: Aug 11 at 9:42AM
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 brick triplex contains a three-bedroom, one-bath main residence, a one-bedroom unit, and a studio. The primary unit offers private laundry, a covered patio, concrete floors, and remodeled kitchen and bathroom areas. The one-bedroom unit is vacant, while the studio has an existing lease. Electric service is separately metered for each unit.
Recent property work includes HVAC updates in 2020 for the main unit and in 2021 for the studio and one-bedroom unit, along with a roof replacement in 2025, upgraded electrical panels, and a metal fence installed in 2026 to separate the yards. Parking includes a two-car carport and three additional spaces. The property is within walking distance of the College of Medicine and law school and is near major employers, the University of Arizona, and Banner medical facilities.
Recent property work includes HVAC updates in 2020 for the main unit and in 2021 for the studio and one-bedroom unit, along with a roof replacement in 2025, upgraded electrical panels, and a metal fence installed in 2026 to separate the yards. Parking includes a two-car carport and three additional spaces. The property is within walking distance of the College of Medicine and law school and is near major employers, the University of Arizona, and Banner medical facilities.
Key Highlights
- Three‑unit layout with a 3‑bedroom, 1‑bath main residence, 1‑bedroom unit, and studio
- Studio has an existing lease; the 1‑bedroom unit is currently vacant
- HVAC systems updated in 2020 and 2021 by unit
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
$21,279
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
3.68%
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%
$425,580
$425.6K
Cap Rate 7%
$303,986
$304.0K
Cap Rate 9%
$236,433
$236.4K
Market Conditions
NOI Build-Up for 1,899 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
$33.0K $17.40/SF
− Vacancy
−$2.6K −$1.39/SF
EGI
$30.4K $16.01/SF
− OpEx
−$9.1K −$4.80/SF
NOI
$21.3K $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%
$425,580
Cap Rate 7%
$303,986
Cap Rate 9%
$236,433
Alternative Uses
Best Use
Multifamily LT 5
$304.0K
$266.0K – $354.7K
NOI $21,279 @ 7.0% cap · market cap 3.68%
Second Best
Apartment 5plus
$278.8K
$243.9K – $325.2K
NOI $19,513 @ 7.0% cap · market cap 3.37%
Theoretical Best
Office A
$493.3K
$431.7K – $575.5K
NOI $34,532 @ 7.0% cap · market cap 5.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
929
Businesses Nearby
Explore this area
Business Placement
Demographics for 85719, AZ
46,242
Population
21,707
Households
2.1
Avg Household Size
27
Median Age
46%
College-Educated
93%
High-School Grad
8.0 sq mi
ZIP Area
5,780
Density / Sq Mi
$41,086
Median Household Income
$17,430
Median Earnings
$1,051
Median Rent
$266,900
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?
Triplex - Three units include a three-bedroom home, one-bedroom apartment, and leased studio with separately metered electric service.
Where is this triplex located?
The property is located at 1328 E Adams St Tucson, AZ.
What is the asking price?
The asking price for this property is $579,000.
What are key features of this property?
This property features: Three‑unit layout with a 3‑bedroom, 1‑bath main residence, 1‑bedroom unit, and studio; Studio has an existing lease; the 1‑bedroom unit is currently vacant; HVAC systems updated in 2020 and 2021 by unit
