Triplex with Private
For Sale
$475,000
2449 N Fair Oaks Ave, Tucson, AZ
Three-unit property with individual utility meters, private outdoor space, fireplaces, central A/C, carports, and storage.
Property Size3,203 SF
Price / SF$148.30
Days on Market34
Property Features for 2449 N Fair Oaks Ave
General Information
Standard status
Active
Size
3,203 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
3
Amenities
Split Floor Plan
Fireplaces
Central A/C
Storage Units
Private Yards
Listing Agency:
Tucson Property Executives
(520) 245-8489
Listed By:
Marni L Allen · License #SA510449000
(520) 245-8489
Source:
Exprealty
Added: Jul 10
Changed: Aug 9
Last Checked: Aug 12 at 10:13AM
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.
This three-unit property includes split-floor-plan layouts, fireplaces, central A/C, double carports, storage units, and a private yard assigned to each residence. Utilities are separately metered for each unit, supporting distinct household utility accounts. One unit has been updated with laminate flooring throughout, while the exterior has received fresh paint and the roof has been coated.
The property is located at 2449 N Fair Oaks Ave in Tucson, Arizona. It is offered for sale together with the adjoining triplex identified by MLS 22617149. The combined offering includes two neighboring triplex properties, subject to the stated sale requirement.
The property is located at 2449 N Fair Oaks Ave in Tucson, Arizona. It is offered for sale together with the adjoining triplex identified by MLS 22617149. The combined offering includes two neighboring triplex properties, subject to the stated sale requirement.
Key Highlights
- Three‑unit property at 2449 N Fair Oaks Ave, Tucson, AZ
- Private yard provided for each unit
- Utilities individually metered by unit
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
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,290
Businesses Nearby
Explore this area
Business Placement
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 with individual utility meters, private outdoor space, fireplaces, central A/C, carports, and storage.
Where is this triplex located?
The property is located at 2449 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: Three‑unit property at 2449 N Fair Oaks Ave, Tucson, AZ; Private yard provided for each unit; Utilities individually metered by unit
