6-Unit Apartment
New
For Sale
$650,000
1400 W Congress Street, Tucson, AZ 85745
Nearly all apartments have ductless mini-split air conditioning, and a separate building provides coin-operated laundry.
Property Size2,655 SF
Price / SF$244.82
Days on Market4
Property Features for 1400 W Congress Street
General Information
Standard status
Active
Size
2,655 SF
Site & Location
Neighborhood
Panorama Estates
Public Transit
Yes
Additional Details
Multifamily Units
6
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$2,470
Amenities
laundry outbuilding
Building Details
Year Built
1940
Listing Agency:
Tierra Antigua Realty
(520) 428-3338
Listed By:
Anne Ranek
(520) 330-4091
Source:
Exprealty
Added: Oct 30
Changed: Nov 1
Last Checked: Nov 1 at 2:58PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1940 apartment property contains six units across 2,655 square feet. Roofs have been replaced in recent years, several electrical panels have been updated, and nearly all apartments now have ductless mini-split air conditioning. A separate laundry building contains a water heater and coin-operated washer and dryer; the property also includes a storage building.
The property is near the modern streetcar and Mercado District, with Saint Mary's Hospital and downtown Tucson within reach.
The property is near the modern streetcar and Mercado District, with Saint Mary's Hospital and downtown Tucson within reach.
Key Highlights
- Six‑unit apartment property with 2,655 square feet
- Built in 1940; roofs replaced in recent years
- Ductless mini‑split air conditioning in nearly all units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,281
Cap Rate
4.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$545,620
$545.6K
Cap Rate 7%
$389,729
$389.7K
Cap Rate 9%
$303,122
$303.1K
Market Conditions
NOI Build-Up for 2,655 SF
Gross rent
$54.2K $20.40/SF
− Vacancy
−$4.6K −$1.72/SF
EGI
$49.6K $18.68/SF
− OpEx
−$22.3K −$8.41/SF
NOI
$27.3K $10.28/SF
Area
Tucson, AZ
Vacancy
8.42%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$545,620
Cap Rate 7%
$389,729
Cap Rate 9%
$303,122
Alternative Uses
Best Use
Apartment 5plus
$389.7K
$341.0K – $454.7K
NOI $27,281 @ 7.0% cap · market cap 4.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$689.7K
$603.5K – $804.7K
NOI $48,279 @ 7.0% cap · market cap 7.43%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
820
Businesses Nearby
Explore this area
Business Placement
Demographics for 85745, AZ
36,774
Population
17,662
Households
2.1
Avg Household Size
42
Median Age
45%
College-Educated
93%
High-School Grad
47.0 sq mi
ZIP Area
782
Density / Sq Mi
$68,608
Median Household Income
$40,353
Median Earnings
$1,128
Median Rent
$324,100
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Nearly all apartments have ductless mini-split air conditioning, and a separate building provides coin-operated laundry.
Where is this apartment building located?
The property is located at 1400 W Congress Street Tucson, AZ.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Six‑unit apartment property with 2,655 square feet; Built in 1940; roofs replaced in recent years; Ductless mini‑split air conditioning in nearly all units
