Remodeled Triplex with Private
For Sale
$475,000
2447 N Fair Oaks Ave, Tucson, AZ 85712
Each unit has its own yard and separately metered utilities, with shared access to storage and double carports.
Property Size3,203 SF
Price / SF$148.30
Days on Market76
Property Features for 2447 N Fair Oaks Ave
General Information
Standard status
Active
Size
3,203 SF
Property subtype
Multi-Family
Building Details
Year Built
2001
Buildings
2
Listing Agency:
Tucson Property Executives
(520) 245-8489
Listed By:
Marni L Allen · License #SA510449000
Source:
Seetucsonhouses
Added: Jun 16
Changed: Aug 28
Last Checked: Aug 30 at 5:54PM
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 Tucson Property Executives
Investment Insights
Based on property information with market context.
Built in 2001, this 3,203-square-foot triplex in Tucson includes three individually configured units with split floor plans, fireplaces, and central A/C. Each residence has a private yard, while double carports and storage units provide on-site utility. Separate utility metering serves each unit independently.
Two units have been updated with laminate flooring throughout. The exterior was recently painted, and the roof has received a protective coating. The property is to be sold together with the adjoining Tri-Plex identified as MLS #22617150.
Two units have been updated with laminate flooring throughout. The exterior was recently painted, and the roof has received a protective coating. The property is to be sold together with the adjoining Tri-Plex identified as MLS #22617150.
Key Highlights
- 3,203‑square‑foot triplex built in 2001
- Three units with individually metered utilities
- Two units recently updated with laminate flooring throughout
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
$35,892
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
7.56%
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%
$717,840
$717.8K
Cap Rate 7%
$512,743
$512.7K
Cap Rate 9%
$398,800
$398.8K
Market Conditions
NOI Build-Up for 3,203 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
$55.7K $17.40/SF
− Vacancy
−$4.5K −$1.39/SF
EGI
$51.3K $16.01/SF
− OpEx
−$15.4K −$4.80/SF
NOI
$35.9K $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%
$717,840
Cap Rate 7%
$512,743
Cap Rate 9%
$398,800
Alternative Uses
Best Use
Multifamily LT 5
$512.7K
$448.7K – $598.2K
NOI $35,892 @ 7.0% cap · market cap 7.56%
Second Best
Apartment 5plus
$470.2K
$411.4K – $548.5K
NOI $32,912 @ 7.0% cap · market cap 6.93%
Theoretical Best
Office A
$832.1K
$728.1K – $970.7K
NOI $58,244 @ 7.0% cap · market cap 12.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,069
Businesses Nearby
Explore this area
Business Placement
Demographics for 85712, AZ
33,108
Population
18,215
Households
1.8
Avg Household Size
44
Median Age
37%
College-Educated
90%
High-School Grad
6.8 sq mi
ZIP Area
4,869
Density / Sq Mi
$48,185
Median Household Income
$39,090
Median Earnings
$947
Median Rent
$250,400
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 - Each unit has its own yard and separately metered utilities, with shared access to storage and double carports.
Where is this triplex located?
The property is located at 2447 N Fair Oaks Ave Tucson, AZ.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 3,203‑square‑foot triplex built in 2001; Three units with individually metered utilities; Two units recently updated with laminate flooring throughout
