Four-Unit Property with
For Sale
$999,900
2619 E Prince Rd, Tucson, AZ 85716
Four individually configured residences with shared outdoor amenities, off-street parking, and carport access in central Tucson.
Property Size4,681 SF
Price / SF$213.61
Days on Market16
Property Features for 2619 E Prince Rd
General Information
Standard status
Active
Size
4,681 SF
Property subtype
Multi-Family
Units
Unit Mix
4BR/2.5BA, 1BR/1BA, 2BR/1BA, 2BR/2BA
Multifamily Units
4
Amenities
shared courtyard
BBQ area
coin-operated laundry room
Building Details
Year Built
1954
Listing Agency:
Realty Executives Arizona Territory
(520) 490-0367
Listed By:
Valerie Lovio
Source:
Wowrealestate
Added: Aug 16
Changed: Aug 29
Last Checked: Aug 30 at 8:11PM
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 Realty Executives Arizona Territory
Investment Insights
Based on property information with market context.
This 1954-built quadplex contains four separately configured residences with a combined mix of one-, two-, and four-bedroom layouts. The largest residence is approximately 1,850 square feet and includes a kitchen with stainless steel appliances and a breakfast bar. Additional units measure approximately 500, 800, and 960 square feet, with features including a gas range, tile flooring, private patio, and a primary suite with attached office space.
Shared improvements include a courtyard, BBQ area, and coin-operated laundry room with a change machine. Each residence has dedicated off-street parking and carport access. The property is located across from the Winterhaven neighborhood in central Tucson, with access to UMC, the University of Arizona, parks, shopping, and dining.
Shared improvements include a courtyard, BBQ area, and coin-operated laundry room with a change machine. Each residence has dedicated off-street parking and carport access. The property is located across from the Winterhaven neighborhood in central Tucson, with access to UMC, the University of Arizona, parks, shopping, and dining.
Key Highlights
- Four separate rental units with one-, two-, and four‑bedroom layouts
- Approximately 1,850‑square‑foot main residence with stainless steel appliances and breakfast bar
- Additional residences of approximately 500, 800, and 960 square feet
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
$52,453
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
5.25%
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%
$1,049,060
$1.0M
Cap Rate 7%
$749,329
$749.3K
Cap Rate 9%
$582,811
$582.8K
Market Conditions
NOI Build-Up for 4,681 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
$81.4K $17.40/SF
− Vacancy
−$6.5K −$1.39/SF
EGI
$74.9K $16.01/SF
− OpEx
−$22.5K −$4.80/SF
NOI
$52.5K $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%
$1,049,060
Cap Rate 7%
$749,329
Cap Rate 9%
$582,811
Alternative Uses
Best Use
Multifamily LT 5
$749.3K
$655.7K – $874.2K
NOI $52,453 @ 7.0% cap · market cap 5.25%
Second Best
Apartment 5plus
$687.1K
$601.2K – $801.7K
NOI $48,099 @ 7.0% cap · market cap 4.81%
Theoretical Best
Office A
$1.22M
$1.06M – $1.42M
NOI $85,121 @ 7.0% cap · market cap 8.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,375
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Four individually configured residences with shared outdoor amenities, off-street parking, and carport access in central Tucson.
Where is this quadplex located?
The property is located at 2619 E Prince Rd Tucson, AZ.
What is the asking price?
The asking price for this property is $999,900.
What are key features of this property?
This property features: Four separate rental units with one-, two-, and four‑bedroom layouts; Approximately 1,850‑square‑foot main residence with stainless steel appliances and breakfast bar; Additional residences of approximately 500, 800, and 960 square feet
