Newly Built Triplex with Open
For Sale
$625,000
2310 W Diamond Street, Tucson, AZ 85705
Three-unit property combines a duplex and detached home with modern finishes, private laundry closets, and spray-foam insulation.
Property Size3,524 SF
Price / SF$177.36
Days on Market38
Property Features for 2310 W Diamond Street
General Information
Standard status
Active
Size
3,524 SF
Total Parking Spaces
6
Property subtype
Residential Income
Zoning
Tucson - MU
Net Operating Income
$5,325
Additional Details
Multifamily Units
3
Amenities
stainless steel appliances
tile flooring
laundry closets
white cabinetry
granite countertops
Central Air
Heat Pump
Electric Range, Electric Water Heater
High Speed Internet
Mountain(s)
Southwestern
Building Details
Building Size
3,524 SF
Year Built
2026
Listing Agency:
Engel & Volkers Tucson
(520) 270-2558
Listed By:
Brenden Urias Buono · License #SA704378000
(520) 270-2558
Source:
Evrealestate
Added: Jul 25
Changed: Aug 28
Last Checked: Aug 30 at 1:49PM
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 Engel & Volkers Tucson
Investment Insights
Based on property information with market context.
Scheduled for completion in 2026, this 3,524-square-foot triplex combines a duplex with a separate single-family residence. Each component is arranged around open-concept living areas and includes stainless steel appliances, tile flooring, white cabinetry, granite countertops, and a dedicated laundry closet. Spray-foam insulation is incorporated into the construction for improved energy performance and interior comfort.
The property is located at 2310 W Diamond St in Tucson, Arizona 85705. The layout provides three residential units within one offering, with the physical configuration consisting of two units in the duplex and one standalone home. Four triplexes are available at this location.
The property is located at 2310 W Diamond St in Tucson, Arizona 85705. The layout provides three residential units within one offering, with the physical configuration consisting of two units in the duplex and one standalone home. Four triplexes are available at this location.
Key Highlights
- 3,524‑square‑foot triplex with a duplex plus single‑family home
- New construction with a 2026 build year
- Open‑concept layouts across the three‑unit configuration
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
$34,042
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
5.45%
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%
$680,840
$680.8K
Cap Rate 7%
$486,314
$486.3K
Cap Rate 9%
$378,244
$378.2K
Market Conditions
NOI Build-Up for 3,524 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
$52.9K $15.00/SF
− Vacancy
−$4.2K −$1.20/SF
EGI
$48.6K $13.80/SF
− OpEx
−$14.6K −$4.14/SF
NOI
$34.0K $9.66/SF
Area
ZIP 85705
Vacancy
8.00%
Lease Rate
$15.00 /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%
$680,840
Cap Rate 7%
$486,314
Cap Rate 9%
$378,244
Alternative Uses
Best Use
Multifamily LT 5
$486.3K
$425.5K – $567.4K
NOI $34,042 @ 7.0% cap · market cap 5.45%
Second Best
Apartment 5plus
$441.2K
$386.1K – $514.8K
NOI $30,885 @ 7.0% cap · market cap 4.94%
Theoretical Best
Office A
$810.9K
$709.6K – $946.1K
NOI $56,764 @ 7.0% cap · market cap 9.08%
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
526
Businesses Nearby
Explore this area
Business Placement
Demographics for 85705, AZ
56,711
Population
29,145
Households
1.9
Avg Household Size
36
Median Age
20%
College-Educated
80%
High-School Grad
13.6 sq mi
ZIP Area
4,170
Density / Sq Mi
$36,606
Median Household Income
$27,220
Median Earnings
$924
Median Rent
$113,700
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?
Triplex - Three-unit property combines a duplex and detached home with modern finishes, private laundry closets, and spray-foam insulation.
Where is this triplex located?
The property is located at 2310 W Diamond Street Tucson, AZ.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 3,524‑square‑foot triplex with a duplex plus single‑family home; New construction with a 2026 build year; Open‑concept layouts across the three‑unit configuration
