Newly Built Duplex with Two
For Sale
$470,000
2340 W Diamond St, Tucson, AZ 85705
Two matching three-bedroom units provide flexibility to live in one and rent the other with energy-efficient construction.
Property Size2,158 SF
Price / SF$217.79
Days on Market228
Property Features for 2340 W Diamond St
General Information
Standard status
Active
Size
2,158 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
2026
Listing Agency:
Engel & Volkers Tucson
Listed By:
Brenden Urias Buono · License #SA704378000
(520) 954-5800
Source:
Tucsonhomeseeker
Added: Feb 20
Changed: Oct 1
Last Checked: Oct 5 at 7:25PM
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.
Newly built duplex offering the flexibility to occupy one unit while renting the other, or to operate both for rental income. The property features two matching 3-bedroom, 2-bathroom units with open-concept layouts. Each unit includes stainless steel appliances, tile flooring throughout, laundry closets, white cabinetry, and granite countertops. The duplex is built with spray-foam insulation aimed at added energy efficiency and year-round comfort.
The duplex is situated on a huge lot, providing room for future possibilities. The seller notes an option to add a single-family residence and potentially create a triplex setup. Four duplexes are available at this location, offering additional options for buyers looking to compare similar properties.
For tenants or owner-operators, the layout supports straightforward day-to-day living with in-unit laundry closets, durable tile flooring, and modern finishes such as granite countertops. Buyers considering an owner-occupant scenario may value the separate unit configuration, while investors can evaluate the same unit plan duplicated across both sides for consistent marketing and leasing. If expansion is a priority, the large lot and stated possibility to add another residence may be worth reviewing.
The duplex is situated on a huge lot, providing room for future possibilities. The seller notes an option to add a single-family residence and potentially create a triplex setup. Four duplexes are available at this location, offering additional options for buyers looking to compare similar properties.
For tenants or owner-operators, the layout supports straightforward day-to-day living with in-unit laundry closets, durable tile flooring, and modern finishes such as granite countertops. Buyers considering an owner-occupant scenario may value the separate unit configuration, while investors can evaluate the same unit plan duplicated across both sides for consistent marketing and leasing. If expansion is a priority, the large lot and stated possibility to add another residence may be worth reviewing.
Key Highlights
- Newly built duplex (YearBuilt 2026) with two matching 3‑bedroom, 2‑bath units
- Each unit features an open‑concept layout with stainless steel appliances
- Interior includes tile flooring throughout, laundry closets, white cabinetry, and granite countertops
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,846
Cap Rate
4.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$416,920
$416.9K
Cap Rate 7%
$297,800
$297.8K
Cap Rate 9%
$231,622
$231.6K
Market Conditions
NOI Build-Up for 2,158 SF
Gross rent
$32.4K $15.00/SF
− Vacancy
−$2.6K −$1.20/SF
EGI
$29.8K $13.80/SF
− OpEx
−$8.9K −$4.14/SF
NOI
$20.8K $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 Rate 5%
$416,920
Cap Rate 7%
$297,800
Cap Rate 9%
$231,622
Alternative Uses
Best Use
Multifamily LT 5
$297.8K
$260.6K – $347.4K
NOI $20,846 @ 7.0% cap · market cap 4.44%
Second Best
Apartment 5plus
$270.2K
$236.4K – $315.2K
NOI $18,913 @ 7.0% cap · market cap 4.02%
Theoretical Best
Office A
$496.6K
$434.5K – $579.4K
NOI $34,761 @ 7.0% cap · market cap 7.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
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
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two matching three-bedroom units provide flexibility to live in one and rent the other with energy-efficient construction.
Where is this duplex located?
The property is located at 2340 W Diamond St Tucson, AZ.
What is the asking price?
The asking price for this property is $470,000.
What are key features of this property?
This property features: Newly built duplex (YearBuilt 2026) with two matching 3‑bedroom, 2‑bath units; Each unit features an open‑concept layout with stainless steel appliances; Interior includes tile flooring throughout, laundry closets, white cabinetry, and granite countertops
