Updated Triplex with Separate
For Sale
$480,000
1330 E Broadway Boulevard, Tucson, AZ 85719
Tucson, AZ
Property Size1,845 SF
Price / SF$260.16
Days on Market63
Property Features for 1330 E Broadway Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Subdivision
University Heights
Elementary school
Sam Hughes
Middle school
Mansfeld
High school
Tucson
Standard status
Active
Size
1,845 SF
Amenities
on-site laundry
Building Details
Year built
1952
Listing Agency:
Engel & Volkers Tucson · Engel & Völkers
(520) 201-0000
Listed By:
Sara E Hersha
Added: Jul 2
Changed: Aug 20
Last Checked: Sep 2 at 8:06AM
MLS# 22525813
Copyright © 2026 Engel & Völkers. 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 1,845-square-foot triplex, built in 1952, contains a two-bedroom, one-bath unit with an attached one-bedroom, one-bath unit, plus a detached studio. Each residence has a separate entrance. The two-bedroom unit has a renovated bathroom, new tile, a refrigerator, and a gas stove; it is currently vacant. The property also includes a locked laundry room reserved for tenant access and corrugated-metal fencing along Broadway.
Parking is accessed from the rear alley off Highland. The one-bedroom unit is leased through April, while the studio is occupied under a month-to-month lease. The property is near the University of Arizona, downtown Tucson, 4th Avenue, shopping, dining, and transit. Showings for the two occupied units require 48 hours' notice.
Parking is accessed from the rear alley off Highland. The one-bedroom unit is leased through April, while the studio is occupied under a month-to-month lease. The property is near the University of Arizona, downtown Tucson, 4th Avenue, shopping, dining, and transit. Showings for the two occupied units require 48 hours' notice.
Key Highlights
- 1,845 SF triplex built in 1952
- Two‑bedroom/one‑bath unit with attached one‑bedroom/one‑bath unit and detached studio
- Renovated bathroom, new tile, refrigerator, and gas stove in the vacant two‑bedroom 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
$20,674
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
4.31%
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%
$413,480
$413.5K
Cap Rate 7%
$295,343
$295.3K
Cap Rate 9%
$229,711
$229.7K
Market Conditions
NOI Build-Up for 1,845 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
$32.1K $17.40/SF
− Vacancy
−$2.6K −$1.39/SF
EGI
$29.5K $16.01/SF
− OpEx
−$8.9K −$4.80/SF
NOI
$20.7K $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%
$413,480
Cap Rate 7%
$295,343
Cap Rate 9%
$229,711
Alternative Uses
Best Use
Multifamily LT 5
$295.3K
$258.4K – $344.6K
NOI $20,674 @ 7.0% cap · market cap 4.31%
Second Best
Apartment 5plus
$270.8K
$237.0K – $316.0K
NOI $18,958 @ 7.0% cap · market cap 3.95%
Theoretical Best
Office A
$479.3K
$419.4K – $559.2K
NOI $33,550 @ 7.0% cap · market cap 6.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,208
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-unit layout includes renovated finishes, on-site laundry, and covered parking access.
Where is this triplex located?
The property is located at 1330 E Broadway Boulevard Tucson, AZ.
What is the asking price?
The asking price for this property is $480,000.
What are key features of this property?
This property features: 1,845 SF triplex built in 1952; Two‑bedroom/one‑bath unit with attached one‑bedroom/one‑bath unit and detached studio; Renovated bathroom, new tile, refrigerator, and gas stove in the vacant two‑bedroom unit
