Triplex with Wraparound
For Sale
$1,075,000
1733 E Lester Street, Tucson, AZ 85719
MULTI_FAMILY - Contemporary - Tucson, AZ
Property Size4,677 SF
Lot Size0.26 Acres
Price / SF$229.85
Days on Market49
Property Features for 1733 E Lester Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
Tucson - R2
Parking
8
Window features
Double Pane Windows
Patio and Porch features
Patio
Interior features
Walk-In Closet(s)
Exterior features
Balcony, Courtyard
Appliances
Double Sink, Gas Range, Dishwasher, Refrigerator
Subdivision
Jefferson Park
Lot features
Decorative Gravel, Adjacent to Alley, North/ South Exposure
Elementary school
Blenman
Middle school
Doolen
High school
Catalina
Elementary school district
TUSD
Middle school district
TUSD
High school district
TUSD
Directions
From Grant & Campbell, head south on Campbell, make a right, then right on Lester. Home will be on the right.
Standard status
Active
APN
113-11-2340
Size
4,677 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Jefferson Park Lot 14 & W2 Of Lot 15 Blk 41
Legal Description
Jefferson Park Lot 14 & W2 Of Lot 15 Blk 41
Utilities
Heating system
Electric (Heating), Forced Air
Cooling system
Central Air
Water source
Public
Amenities
private yard
wraparound deck
mountain views
Building Details
Year built
1946
Number of units
3
Flooring type
Carpet, Concrete, Tile - Ceramic
Building materials
Masonry Stucco
Roof type
Built-Up, Shingle
Architectural style
Contemporary
Listing Agency:
Tierra Antigua Realty
(520) 544-2335
Listed By:
Rachel Spears
(520) 982-2084
Added: Jul 16
Changed: Aug 18
Last Checked: Sep 2 at 9:06AM
MLS# 22617597
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.
This triplex features two detached single-family homes plus a separate casita, arranged with private yards for each residence. The combined layout offers 7 bedrooms and 5 bathrooms, along with a wraparound deck and additional exterior spaces including balcony, courtyard, and patio. Interior highlights include walk-in closets, with flooring options of concrete, carpet, and ceramic tile. The property includes gas range and dishwasher, plus refrigerator and double sink fixtures. Construction is masonry stucco, built in 1946, with central air cooling and forced-air electric heating.
The property is located in Tucson, zoned Tucson - R2, and is described as within walking distance of Banner University Medical Center and the University of Arizona. Off-street parking is provided for approximately 8–12 vehicles, supporting a range of tenant and owner-occupant needs.
With its three separate living spaces and private outdoor areas, the configuration is designed to support multiple privacy-oriented households within one triplex arrangement.
The property is located in Tucson, zoned Tucson - R2, and is described as within walking distance of Banner University Medical Center and the University of Arizona. Off-street parking is provided for approximately 8–12 vehicles, supporting a range of tenant and owner-occupant needs.
With its three separate living spaces and private outdoor areas, the configuration is designed to support multiple privacy-oriented households within one triplex arrangement.
Key Highlights
- Two detached single‑family homes plus separate casita
- Total of 7 bedrooms and 5 bathrooms
- Each residence includes a private yard
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
$52,409
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
4.88%
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%
$1,048,180
$1.0M
Cap Rate 7%
$748,700
$748.7K
Cap Rate 9%
$582,322
$582.3K
Market Conditions
NOI Build-Up for 4,677 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
$52.4K $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%
$1,048,180
Cap Rate 7%
$748,700
Cap Rate 9%
$582,322
Alternative Uses
Best Use
Multifamily LT 5
$748.7K
$655.1K – $873.5K
NOI $52,409 @ 7.0% cap · market cap 4.88%
Second Best
Apartment 5plus
$686.5K
$600.7K – $801.0K
NOI $48,057 @ 7.0% cap · market cap 4.47%
Theoretical Best
Office A
$1.21M
$1.06M – $1.42M
NOI $85,048 @ 7.0% cap · market cap 7.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,525
Businesses Nearby
Explore this area
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
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?
Triplex - Zoned Tucson R2 triplex with wraparound deck and proximity to Banner University Medical Center and the University of Arizona.
Where is this triplex located?
The property is located at 1733 E Lester Street Tucson, AZ.
What is the asking price?
The asking price for this property is $1,075,000.
What are key features of this property?
This property features: Two detached single‑family homes plus separate casita; Total of 7 bedrooms and 5 bathrooms; Each residence includes a private yard
