Updated Triplex with Fenced
For Sale
$465,000
2720 N Fritz Drive, Tucson, AZ 85705
Residential Income, Contemporary, Tucson, AZ
Property Size2,713 SF
Lot Size0.15 Acres
Price / SF$171.40
Days on Market12
Property Features for 2720 N Fritz Drive
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
Tucson - O3
Parking
5
Window features
Double Pane Windows
Fencing
Chain Link
Appliances
Tankless Water Heater, Gas Range
Subdivision
Coronado Heights
Lot features
East/ West Exposure
Elementary school
Keeling
Middle school
La Cima
High school
Amphitheater
Elementary school district
Amphitheater
Middle school district
Amphitheater
High school district
Amphitheater
Directions
N Stone Ave & W Glenn St. South on Stone to Glenn. West to Fritz, south to property.
Standard status
Active
APN
107130610
Size
2,713 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CORONADO HEIGHTS S50' N70' E130' LOT 7 BLK 38
Legal Description
CORONADO HEIGHTS S50' N70' E130' LOT 7 BLK 38
Utilities
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Amenities
fenced yard
off-street parking
Building Details
Year built
1948
Number of units
3
Flooring type
Carpet, Tile - Ceramic
Building materials
Frame - Stucco, Slump Block
Roof type
Built-Up
Architectural style
Contemporary
Listing Agency:
Tierra Antigua Realty
(520) 428-3338
Listed By:
Ernest Anthony Hernandez · License #39877
(520) 396-0693
Added: Aug 19
Changed: Aug 27
Last Checked: Aug 30 at 9:06PM
MLS# 22620197
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 2,713-square-foot triplex contains three separate residences with a 2-bedroom, 1-bath layout, a 1-bedroom, 1-bath layout, and a newer 2-bedroom, 2-bath unit. The third unit offers ceramic tile, contemporary finishes, and a tankless water heater. The other two residences have renovated kitchens and bathrooms, updated windows, fresh paint, and durable flooring. Central air and forced-air natural-gas heating serve the property, which was built in 1948 with frame-stucco and slump-block construction.
The property occupies 0.15 acres at 2720 N Fritz Drive in Tucson and is zoned Tucson - O3. Exterior features include a newer built-up roof, chain-link fencing, off-street parking, and a fenced yard with established desert landscaping. Its location near the University of Arizona supports both rental-income and owner-occupant use considerations.
The property occupies 0.15 acres at 2720 N Fritz Drive in Tucson and is zoned Tucson - O3. Exterior features include a newer built-up roof, chain-link fencing, off-street parking, and a fenced yard with established desert landscaping. Its location near the University of Arizona supports both rental-income and owner-occupant use considerations.
Key Highlights
- Three‑unit configuration: 2BR/1BA, 1BR/1BA, and 2BR/2BA residences
- 2,713 square feet on a 0.15‑acre lot
- Newly added 2BR/2BA unit with tile flooring, modern finishes, and tankless water heater
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
$26,208
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
5.64%
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%
$524,160
$524.2K
Cap Rate 7%
$374,400
$374.4K
Cap Rate 9%
$291,200
$291.2K
Market Conditions
NOI Build-Up for 2,713 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
$40.7K $15.00/SF
− Vacancy
−$3.3K −$1.20/SF
EGI
$37.4K $13.80/SF
− OpEx
−$11.2K −$4.14/SF
NOI
$26.2K $9.66/SF
Area
ZIP 85705
Vacancy
8.00%
Lease Rate
$15.00 /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%
$524,160
Cap Rate 7%
$374,400
Cap Rate 9%
$291,200
Alternative Uses
Best Use
Multifamily LT 5
$374.4K
$327.6K – $436.8K
NOI $26,208 @ 7.0% cap · market cap 5.64%
Second Best
Apartment 5plus
$339.7K
$297.2K – $396.3K
NOI $23,777 @ 7.0% cap · market cap 5.11%
Theoretical Best
Office A
$624.3K
$546.3K – $728.4K
NOI $43,701 @ 7.0% cap · market cap 9.40%
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
980
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?
Triplex - Three distinct residences combine refreshed interiors, private outdoor space, and off-street parking in Tucson.
Where is this triplex located?
The property is located at 2720 N Fritz Drive Tucson, AZ.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: Three‑unit configuration: 2BR/1BA, 1BR/1BA, and 2BR/2BA residences; 2,713 square feet on a 0.15‑acre lot; Newly added 2BR/2BA unit with tile flooring, modern finishes, and tankless water heater
