4-Unit Studio Multifamily
New
For Sale
$325,000
2519 N Estrella Avenue, Tucson, AZ 85705
Residential Income, Bungalow, Tucson, AZ
Property Size1,120 SF
Lot Size0.14 Acres
Price / SF$290.18
Days on Market2
Property Features for 2519 N Estrella Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
Tucson - R2
Parking
8
Fencing
Chain Link
Appliances
Gas Range, Refrigerator
Subdivision
Coronado Heights
Lot features
East/ West Exposure, Subdivided
Elementary school
Keeling
Middle school
Amphitheater
High school
Amphitheater
Elementary school district
Amphitheater
Middle school district
Amphitheater
High school district
Amphitheater
Directions
From Grant Rd, north on Oracle Rd, east on Blacklidge Dr, north on Estrella Ave to the property on the left.
Standard status
Active
APN
107-14-1300
Size
1,120 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Coronado Heights E120' S50' N60' Lot 8 Blk 53
Legal Description
Coronado Heights E120' S50' N60' Lot 8 Blk 53
Utilities
Water source
Public
Amenities
on-site laundry
fenced yard areas
Building Details
Year built
1953
Number of units
4
Flooring type
Tile - Ceramic
Building materials
Masonry Stucco
Roof type
Built-Up
Architectural style
Bungalow
Listing Agency:
Keller Williams Southern Arizona · Keller Williams Realty
(520) 615-8400
Listed By:
Daniel C Caldwell
(520) 777-1698
Added: Oct 1
Changed: Oct 2
Last Checked: Oct 2 at 6:06AM
MLS# 22624017
Copyright © 2026 Multiple Listing Service of Southern Arizona. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This four-unit multifamily property comprises two detached duplex buildings on a 0.14-acre city lot. Each studio includes a full bathroom and a separate entrance. The combined property size is 1,120 square feet. Improvements include updated kitchen cabinetry, mini-split heating and cooling systems, and gas water heaters. On-site laundry equipment and a refrigerator in each unit are included. The buildings have stucco masonry construction, ceramic tile flooring, and built-up roofing.
The property is less than two miles from the University of Arizona and a short drive from Oracle Road. It has off-street parking and fenced yard areas, with public water, city sewer, natural gas, and Tucson Electric Power service. Zoning is R-2, and there is no HOA.
The property is less than two miles from the University of Arizona and a short drive from Oracle Road. It has off-street parking and fenced yard areas, with public water, city sewer, natural gas, and Tucson Electric Power service. Zoning is R-2, and there is no HOA.
Key Highlights
- Four studio units across two detached duplex buildings
- 1,120 square feet on a 0.14‑acre city lot
- Each studio has a private entrance and full bathroom
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
$9,816
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
3.02%
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%
$196,320
$196.3K
Cap Rate 7%
$140,229
$140.2K
Cap Rate 9%
$109,067
$109.1K
Market Conditions
NOI Build-Up for 1,120 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
$19.5K $17.40/SF
− Vacancy
−$1.6K −$1.47/SF
EGI
$17.8K $15.93/SF
− OpEx
−$8.0K −$7.17/SF
NOI
$9.8K $8.76/SF
Area
ZIP 85705
Vacancy
8.42%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
45.00%
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%
$196,320
Cap Rate 7%
$140,229
Cap Rate 9%
$109,067
Alternative Uses
Best Use
Apartment 5plus
$140.2K
$122.7K – $163.6K
NOI $9,816 @ 7.0% cap · market cap 3.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$257.7K
$225.5K – $300.7K
NOI $18,041 @ 7.0% cap · market cap 5.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,171
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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?
Multifamily property - Each residence has a private entrance and full bathroom, with laundry facilities on site.
Where is this multifamily property located?
The property is located at 2519 N Estrella Avenue Tucson, AZ.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Four studio units across two detached duplex buildings; 1,120 square feet on a 0.14‑acre city lot; Each studio has a private entrance and full bathroom
