Five-Unit Apartment
For Sale
$375,000
16673 N Ave Del Oro, Tucson, AZ 85739
Residential Income, Affixed Mobile Home, Tucson, AZ
Property Size1,500 SF
Lot Size0.28 Acres
Price / SF$250
Days on Market48
Property Features for 16673 N Ave Del Oro
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Pima County - CMH2
Parking
40
Parking features
RV
Patio and Porch features
Patio
Fencing
Chain Link
Subdivision
Lariat Estates NO. 2 (1-33)
Lot features
Decorative Gravel, Adjacent to Alley
Elementary school
Coronado K-8
Middle school
Coronado K-8
High school
Canyon Del Oro
Elementary school district
Amphitheater
Middle school district
Amphitheater
High school district
Amphitheater
Directions
From the intersection of Tangerine Road and Oracle Road, head north on Oracle Road (AZ-77) for approximately 9 miles. Turn right onto East Pinto Road and continue for about 0.3 miles. Turn left onto North Avenida Del Oro and proceed north approximately 0.2 miles. The property, 16673 N Avenida Del Oro, will be located on your right-hand side
Standard status
Active
APN
222-16-0860
Size
1,500 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LARIAT ESTATES LOT 73
Legal Description
LARIAT ESTATES LOT 73
Utilities
Heating system
Propane (Heating), Forced Air
Cooling system
Wall Unit(s)
Amenities
fenced commercial lot
Building Details
Year built
1971
Number of units
2
Flooring type
Vinyl
Building materials
Frame
Roof type
Built-Up
Architectural style
Other
Listing Agency:
RE/MAX Excalibur Realty · RE/MAX International
(520) 461-1255
Listed By:
Wilson James Bliss Troxel · License #SA68432600
(520) 273-9554
Added: Jul 23
Changed: Sep 2
Last Checked: Sep 8 at 5:06AM
MLS# 22617969
Copyright © 2026 Multiple Listing Service of Southern Arizona. 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.
Located at 16673 N Ave Del Oro in Tucson, this apartment property contains five income-producing units: three studios, one one-bedroom/one-bath unit, and one two-bedroom/one-bath unit. The improvements total 1,500 square feet on 0.28 acres and were built in 1971. Frame construction, vinyl flooring, a built-up roof, forced-air and propane heating, and wall-unit cooling are among the property features.
An adjacent commercial lot is fully enclosed with chain-link fencing. The property is identified with Pima County CMH2 zoning and includes a patio and RV parking. The unit mix and additional lot provide distinct physical components within one Tucson property.
An adjacent commercial lot is fully enclosed with chain-link fencing. The property is identified with Pima County CMH2 zoning and includes a patio and RV parking. The unit mix and additional lot provide distinct physical components within one Tucson property.
Key Highlights
- Five income‑producing units: three studios, one 1‑bedroom/1‑bath, and one 2‑bedroom/1‑bath
- Adjacent fully fenced commercial lot
- Pima County - CMH2 zoning
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
$15,413
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
4.11%
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%
$308,260
$308.3K
Cap Rate 7%
$220,186
$220.2K
Cap Rate 9%
$171,256
$171.3K
Market Conditions
NOI Build-Up for 1,500 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
$30.6K $20.40/SF
− Vacancy
−$2.6K −$1.72/SF
EGI
$28.0K $18.68/SF
− OpEx
−$12.6K −$8.41/SF
NOI
$15.4K $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 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%
$308,260
Cap Rate 7%
$220,186
Cap Rate 9%
$171,256
Alternative Uses
Best Use
Apartment 5plus
$220.2K
$192.7K – $256.9K
NOI $15,413 @ 7.0% cap · market cap 4.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$389.7K
$341.0K – $454.6K
NOI $27,276 @ 7.0% cap · market cap 7.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
114
Businesses Nearby
Explore this area
Business Placement
Demographics for 85739, AZ
18,878
Population
9,858
Households
1.9
Avg Household Size
66
Median Age
42%
College-Educated
95%
High-School Grad
255.7 sq mi
ZIP Area
74
Density / Sq Mi
$84,863
Median Household Income
$39,220
Median Earnings
$1,648
Median Rent
$394,000
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Five rental units include studios and one- and two-bedroom layouts, with an adjacent fenced commercial lot.
Where is this apartment building located?
The property is located at 16673 N Ave Del Oro Tucson, AZ.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Five income‑producing units: three studios, one 1‑bedroom/1‑bath, and one 2‑bedroom/1‑bath; Adjacent fully fenced commercial lot; Pima County - CMH2 zoning
