Multifamily Property with Alley
New
For Sale
$314,900
2031 E Eastland Street, Tucson, AZ 85719
Central air, a heat pump, and an electric range are among the property’s interior features.
Property Size1,431 SF
Price / SF$220.06
Days on Market7
Property Features for 2031 E Eastland Street
General Information
Standard status
Active
Size
1,431 SF
Total Parking Spaces
5
Property subtype
Residential Income
Zoning
Tucson - R2
Net Operating Income
$27,404
Amenities
Sidewalks
Central Air
Heat Pump
Electric Range, Disposal, Refrigerator, Electric Water Heater
Laminate Counters, High Speed Internet
Chain Link, None
Alley Access, None
Modern
Building Details
Building Size
1,431 SF
Year Built
1999
Listed By:
Victor M Lopez
(520) 331-6300
Source:
Evrealestate
Added: Sep 30
Changed: Oct 3
Last Checked: Oct 5 at 6:20PM
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 Victor M Lopez
Investment Insights
Based on property information with market context.
This multifamily property at 2031 E Eastland Street has central air and a heat pump. Interior features also include an electric range, disposal, refrigerator, electric water heater, laminate counters, and high-speed internet.
The property was built in 1999 and is zoned Tucson - R2. Alley access is available.
The property was built in 1999 and is zoned Tucson - R2. Alley access is available.
Key Highlights
- Tucson - R2 zoning
- Built in 1999
- Alley access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,704
Cap Rate
4.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$294,080
$294.1K
Cap Rate 7%
$210,057
$210.1K
Cap Rate 9%
$163,378
$163.4K
Market Conditions
NOI Build-Up for 1,431 SF
Gross rent
$29.2K $20.40/SF
− Vacancy
−$2.5K −$1.72/SF
EGI
$26.7K $18.68/SF
− OpEx
−$12.0K −$8.41/SF
NOI
$14.7K $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%
$294,080
Cap Rate 7%
$210,057
Cap Rate 9%
$163,378
Alternative Uses
Best Use
Apartment 5plus
$210.1K
$183.8K – $245.1K
NOI $14,704 @ 7.0% cap · market cap 4.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$371.7K
$325.3K – $433.7K
NOI $26,022 @ 7.0% cap · market cap 8.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
767
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Central air, a heat pump, and an electric range are among the property’s interior features.
Where is this multifamily property located?
The property is located at 2031 E Eastland Street Tucson, AZ.
What is the asking price?
The asking price for this property is $314,900.
What are key features of this property?
This property features: Tucson - R2 zoning; Built in 1999; Alley access
