14-Unit Apartment
For Sale
$1,499,000
2620 N Stone Avenue, Tucson, AZ 85705
Fourteen residences include stand-alone homes, triplex buildings, central air, and on-site laundry.
Property Size7,683 SF
Price / SF$195.11
Days on Market363
Property Features for 2620 N Stone Avenue
General Information
Standard status
Active
Size
7,683 SF
Property subtype
General Commercial
Units
Unit Mix
13 x 1BR, 1 x 2BR
Multifamily Units
14
Taxes and HOA fees
Annual Taxes
$4,864
Amenities
on-site laundry
Central Air, Evaporative
3
116'x300', 0.8100000023841858
Building Details
Year Built
1948
Buildings
11
Listing Agency:
ABI Multifamily
(602) 714-1384
Listed By:
John Kobierowski
(602) 714-1384
Source:
Xome
Added: Sep 3, 2025
Changed: Aug 29
Last Checked: Aug 30 at 1:21PM
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 ABI Multifamily
Investment Insights
Based on property information with market context.
This 14-unit apartment community contains thirteen one-bedroom residences and one two-bedroom residence across eight stand-alone dwellings and three triplexes. The property totals 7,683 square feet and includes on-site laundry, central air, and evaporative cooling. Water is submetered, providing a defined utility structure for the owner.
Built in 1948, the property occupies approximately 0.81 acres at 2620 N Stone Avenue in Tucson, Arizona. The site measures 116 feet by 300 feet and combines individual dwelling units with small multifamily buildings in one residential income property.
Built in 1948, the property occupies approximately 0.81 acres at 2620 N Stone Avenue in Tucson, Arizona. The site measures 116 feet by 300 feet and combines individual dwelling units with small multifamily buildings in one residential income property.
Key Highlights
- 14 units: 13 one‑bedroom units and 1 two‑bedroom unit
- Eight stand‑alone dwellings plus three triplexes
- 7,683 square feet on approximately 0.8100000023841858 acres
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
$67,335
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
4.49%
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%
$1,346,700
$1.3M
Cap Rate 7%
$961,929
$961.9K
Cap Rate 9%
$748,167
$748.2K
Market Conditions
NOI Build-Up for 7,683 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
$133.7K $17.40/SF
− Vacancy
−$11.3K −$1.47/SF
EGI
$122.4K $15.93/SF
− OpEx
−$55.1K −$7.17/SF
NOI
$67.3K $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%
$1,346,700
Cap Rate 7%
$961,929
Cap Rate 9%
$748,167
Alternative Uses
Best Use
Apartment 5plus
$961.9K
$841.7K – $1.12M
NOI $67,335 @ 7.0% cap · market cap 4.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.77M
$1.55M – $2.06M
NOI $123,757 @ 7.0% cap · market cap 8.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14
Residential units
Location Intelligence
Trade Area within ½ mile
1,217
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
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 - Fourteen residences include stand-alone homes, triplex buildings, central air, and on-site laundry.
Where is this apartment building located?
The property is located at 2620 N Stone Avenue Tucson, AZ.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: 14 units: 13 one‑bedroom units and 1 two‑bedroom unit; Eight stand‑alone dwellings plus three triplexes; 7,683 square feet on approximately 0.8100000023841858 acres
