Quadruplex with Rental
For Sale
$620,000
1555 E Bernard Dr, Tucson, AZ 85714
Four-unit property with a detached casita, garage/workshop, multiple storage units, and on-site parking.
Property Size3,257 SF
Lot Size0.34 Acres
Price / SF$190.36
Days on Market198
Property Features for 1555 E Bernard Dr
General Information
Standard status
Active
Size
3,257 SF
Lot size
0.34 Acres
Property subtype
Multi-Family
Units
Unit Mix
1 x 3/2 w/loft, 1 x 2/2 w/loft, 1 x Studio, 1 x 1/1
Multifamily Units
4
Building Details
Year Built
1968
Listing Agency:
Realty One Group Integrity
(520) 981-9080
Listed By:
Santiago Ortiz
Source:
Tucsonhomeseeker
Added: Feb 14
Changed: Aug 28
Last Checked: Aug 30 at 6:02PM
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 One Group Integrity
Investment Insights
Based on property information with market context.
This four-unit residential property at 1555 E Bernard Dr includes two loft-style residences, a studio, and a detached one-bedroom casita. Unit A measures 1,375 square feet with a three-bedroom, two-bath layout and loft, while Unit B offers 1,057 square feet with two bedrooms, two baths, and a loft. Unit D is a 225-square-foot studio, and detached Unit C measures 600 square feet with one bedroom and one bath. The property also includes three rental storage units and an 18-by-14-foot garage/workshop.
Set on a 0.34-acre lot in Tucson, the property has a block perimeter wall and 10+ on-site parking spaces. The exterior was recently painted. The surrounding area is associated with the Gem Show, New Mosaic Iceplex, Kino Sports Plex, Tucson Rodeo, sporting competitions, shopping, restaurants, and entertainment.
Set on a 0.34-acre lot in Tucson, the property has a block perimeter wall and 10+ on-site parking spaces. The exterior was recently painted. The surrounding area is associated with the Gem Show, New Mosaic Iceplex, Kino Sports Plex, Tucson Rodeo, sporting competitions, shopping, restaurants, and entertainment.
Key Highlights
- Four‑unit property with Unit A, Unit B, Unit D, and detached casita Unit C
- Unit A: 1,375ft², 3/2 layout with loft
- Unit B: 1,057ft², 2/2 layout with loft
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
$36,497
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
5.89%
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%
$729,940
$729.9K
Cap Rate 7%
$521,386
$521.4K
Cap Rate 9%
$405,522
$405.5K
Market Conditions
NOI Build-Up for 3,257 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
$56.7K $17.40/SF
− Vacancy
−$4.5K −$1.39/SF
EGI
$52.1K $16.01/SF
− OpEx
−$15.6K −$4.80/SF
NOI
$36.5K $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%
$729,940
Cap Rate 7%
$521,386
Cap Rate 9%
$405,522
Alternative Uses
Best Use
Multifamily LT 5
$521.4K
$456.2K – $608.3K
NOI $36,497 @ 7.0% cap · market cap 5.89%
Second Best
Apartment 5plus
$478.1K
$418.3K – $557.8K
NOI $33,467 @ 7.0% cap · market cap 5.40%
Theoretical Best
Office A
$846.1K
$740.3K – $987.1K
NOI $59,226 @ 7.0% cap · market cap 9.55%
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
788
Businesses Nearby
Explore this area
Business Placement
Demographics for 85714, AZ
14,232
Population
5,589
Households
2.5
Avg Household Size
38
Median Age
10%
College-Educated
69%
High-School Grad
5.6 sq mi
ZIP Area
2,541
Density / Sq Mi
$47,093
Median Household Income
$30,204
Median Earnings
$879
Median Rent
$177,100
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-unit property with a detached casita, garage/workshop, multiple storage units, and on-site parking.
Where is this quadplex located?
The property is located at 1555 E Bernard Dr Tucson, AZ.
What is the asking price?
The asking price for this property is $620,000.
What are key features of this property?
This property features: Four‑unit property with Unit A, Unit B, Unit D, and detached casita Unit C; Unit A: 1,375ft², 3/2 layout with loft; Unit B: 1,057ft², 2/2 layout with loft
