Historic 5-Unit Apartment
New
For Sale
$750,000
239 S 5th Ave, Tucson, AZ 85701
Four one-bedroom residences and a studio occupy separate addresses in downtown Tucson’s Armory Park district.
Property Size2,326 SF
Lot Size0.25 Acres
Price / SF$322.44
Days on Market7
Property Features for 239 S 5th Ave
General Information
Standard status
Active
Size
2,326 SF
Net Rentable
2,140 SF
Lot size
0.25 Acres
Property subtype
Commercial
Occupancy
100%
Units
Unit Mix
4 x 1BR/1BA, 1 x studio
Multifamily Units
5
Building Details
Year Built
1896
Year Renovated
2018
Listing Agency:
Keller Williams Southern Arizona
Listed By:
Daniel C Caldwell
(520) 777-1698
Source:
Exploretucsonproperties
Added: Sep 30
Changed: Oct 3
Last Checked: Oct 5 at 7:23PM
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 Keller Williams Southern Arizona
Investment Insights
Based on property information with market context.
This Tucson apartment property comprises five separately addressed residences on one parcel: four one-bedroom, one-bath units and a studio. The buildings date to 1896 and underwent renovations in 2017–2018, including replacement water lines, a new water heater, gas repiping and a new electric meter. The parcel contains 11,000 square feet of land, and all five units are occupied.
The property is within Tucson’s Armory Park Historic District, with downtown dining, arts and entertainment described as walkable. The addresses are 213 E 13th St and 239, 241, 243 and 245 S 5th Ave. A rent roll is available to qualified buyers.
The property is within Tucson’s Armory Park Historic District, with downtown dining, arts and entertainment described as walkable. The addresses are 213 E 13th St and 239, 241, 243 and 245 S 5th Ave. A rent roll is available to qualified buyers.
Key Highlights
- Five occupied residences: four 1 bed/1 bath units and one studio
- Built in 1896; renovated in 2017‑2018
- Updates include new water lines, water heater, gas repipe and electric meter
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,900
Cap Rate
3.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$478,000
$478.0K
Cap Rate 7%
$341,429
$341.4K
Cap Rate 9%
$265,556
$265.6K
Market Conditions
NOI Build-Up for 2,326 SF
Gross rent
$47.5K $20.40/SF
− Vacancy
−$4.0K −$1.72/SF
EGI
$43.5K $18.68/SF
− OpEx
−$19.6K −$8.41/SF
NOI
$23.9K $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%
$478,000
Cap Rate 7%
$341,429
Cap Rate 9%
$265,556
Alternative Uses
Best Use
Apartment 5plus
$341.4K
$298.8K – $398.3K
NOI $23,900 @ 7.0% cap · market cap 3.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$604.2K
$528.7K – $705.0K
NOI $42,297 @ 7.0% cap · market cap 5.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
3,354
Businesses Nearby
Explore this area
Business Placement
Demographics for 85701, AZ
5,132
Population
3,631
Households
1.4
Avg Household Size
37
Median Age
57%
College-Educated
91%
High-School Grad
1.5 sq mi
ZIP Area
3,421
Density / Sq Mi
$52,672
Median Household Income
$43,762
Median Earnings
$1,183
Median Rent
$451,500
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?
Apartment building - Four one-bedroom residences and a studio occupy separate addresses in downtown Tucson’s Armory Park district.
Where is this apartment building located?
The property is located at 239 S 5th Ave Tucson, AZ.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Five occupied residences: four 1 bed/1 bath units and one studio; Built in 1896; renovated in 2017‑2018; Updates include new water lines, water heater, gas repipe and electric meter
