Updated Two-Unit
For Sale
$460,000
3025 N Olsen Ave, Tucson, AZ 85719
Separate front and rear residences offer distinct kitchens and laundry facilities on an R-2-zoned lot.
Property Size2,013 SF
Price / SF$228.51
Days on Market548
Property Features for 3025 N Olsen Ave
General Information
Standard status
Active
Size
2,013 SF
Property subtype
Multi-Family
Zoning
R-2
Site & Location
Neighborhood
Cragin
Units
Unit Mix
1 x 3BR/2BA, 1 x 1BR/1BA
Multifamily Units
2
Additional Details
Asking Price
$480,000
Building Details
Year Built
1948
Listing Agency:
Tierra Antigua Realty
Listed By:
Jason K Foster
(520) 429-2660
Source:
Exploretucsonproperties
Added: May 5, 2025
Changed: Nov 1
Last Checked: Nov 1 at 5:46AM
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 Tierra Antigua Realty
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Investment Insights
Based on property information with market context.
This Tucson duplex contains two attached residences with separate living arrangements. Front Unit A measures approximately 1413 square feet and includes three bedrooms, two bathrooms, tile flooring throughout, tongue-and-groove wood ceilings, an updated kitchen, and a laundry closet. Rear Unit B provides approximately 600 square feet with one bedroom, one bathroom, a kitchen, and its own laundry facilities. The combined property size is 2013 square feet, and the building was constructed in 1948.
The large lot is zoned R-2 and is described as having potential for an additional unit or ADU, subject to buyer investigation. The property is located at 3025 N Olsen Ave in Tucson, near the University of Arizona and mid-town activities.
The large lot is zoned R-2 and is described as having potential for an additional unit or ADU, subject to buyer investigation. The property is located at 3025 N Olsen Ave in Tucson, near the University of Arizona and mid-town activities.
Key Highlights
- Two attached units totaling 2013 square feet
- Front Unit A: approximately 1413 square feet with 3 bedrooms and 2 bathrooms
- Rear Unit B: approximately 600 square feet with 1 bedroom and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,557
Cap Rate
4.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$451,140
$451.1K
Cap Rate 7%
$322,243
$322.2K
Cap Rate 9%
$250,633
$250.6K
Market Conditions
NOI Build-Up for 2,013 SF
Gross rent
$35.0K $17.40/SF
− Vacancy
−$2.8K −$1.39/SF
EGI
$32.2K $16.01/SF
− OpEx
−$9.7K −$4.80/SF
NOI
$22.6K $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 Rate 5%
$451,140
Cap Rate 7%
$322,243
Cap Rate 9%
$250,633
Alternative Uses
Best Use
Multifamily LT 5
$322.2K
$282.0K – $376.0K
NOI $22,557 @ 7.0% cap · market cap 4.90%
Second Best
Apartment 5plus
$295.5K
$258.6K – $344.7K
NOI $20,684 @ 7.0% cap · market cap 4.50%
Theoretical Best
Office A
$522.9K
$457.6K – $610.1K
NOI $36,605 @ 7.0% cap · market cap 7.96%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,188
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Separate front and rear residences offer distinct kitchens and laundry facilities on an R-2-zoned lot.
Where is this duplex located?
The property is located at 3025 N Olsen Ave Tucson, AZ.
What is the asking price?
The asking price for this property is $460,000.
What are key features of this property?
This property features: Two attached units totaling 2013 square feet; Front Unit A: approximately 1413 square feet with 3 bedrooms and 2 bathrooms; Rear Unit B: approximately 600 square feet with 1 bedroom and 1 bathroom
