Apartment Building with
For Sale
$1,350,000
2750-2770 N Goyette Avenue, Tucson, AZ 85712
Multifamily property with private patios, fenced yards, dedicated laundry areas, and on-site parking.
Property Size7,830 SF
Price / SF$172.41
Days on Market213
Property Features for 2750-2770 N Goyette Avenue
General Information
Standard status
Active
Size
7,830 SF
Property subtype
General Commercial
Occupancy
90%
Units
Unit Mix
10 x 2BR/1BA
Multifamily Units
10
Taxes and HOA fees
Annual Taxes
$6,328
Amenities
private patios
washer/dryer hookups
additional storage units
private fenced yards
mature shade trees
welcoming courtyard
Central Air
3
Corner Lot. Subdivided Lot.
20 Parking Spaces.
155 x 39.45 x 159 x 180 x, 0.75
Extra Storage. Corner, Paved Road, Subdivided.
Building Details
Year Built
1980
Listing Agency:
Long Realty
(520) 977-4770
Listed By:
Peter Deluca · License #BR009133000
(520) 977-4770
Source:
Xome
Added: Jan 31
Changed: Aug 31
Last Checked: Aug 31 at 12:55PM
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 Long Realty
Investment Insights
Based on property information with market context.
Built in 1980, this multifamily property contains 10 units, each offering 2 bedrooms, 1 bath, and 783 SF. Every residence includes washer/dryer hookups in a dedicated laundry room located off a private patio. Four apartments have remodeled kitchens and bathrooms, while private fenced yards, mature shade trees, and a shared courtyard add usable outdoor space.
The property sits on a corner, subdivided lot with paved-road access and 20 parking spaces. Ten additional storage units are included, and one apartment is vacant for showings. The operating information reflects actual rents, while the pro forma uses 30% expenses and supports an estimated 6.6% cap rate. Central air is provided throughout the complex.
The property sits on a corner, subdivided lot with paved-road access and 20 parking spaces. Ten additional storage units are included, and one apartment is vacant for showings. The operating information reflects actual rents, while the pro forma uses 30% expenses and supports an estimated 6.6% cap rate. Central air is provided throughout the complex.
Key Highlights
- 10‑unit complex with 2‑bedroom, 1‑bath residences measuring 783 SF each
- Four units feature remodeled kitchens and bathrooms
- Ten additional storage units included
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
$80,455
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
5.96%
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%
$1,609,100
$1.6M
Cap Rate 7%
$1,149,357
$1.1M
Cap Rate 9%
$893,944
$893.9K
Market Conditions
NOI Build-Up for 7,830 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
$159.7K $20.40/SF
− Vacancy
−$13.4K −$1.72/SF
EGI
$146.3K $18.68/SF
− OpEx
−$65.8K −$8.41/SF
NOI
$80.5K $10.28/SF
Area
Tucson, AZ
Vacancy
8.42%
Lease Rate
$20.40 /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%
$1,609,100
Cap Rate 7%
$1,149,357
Cap Rate 9%
$893,944
Alternative Uses
Best Use
Apartment 5plus
$1.15M
$1.01M – $1.34M
NOI $80,455 @ 7.0% cap · market cap 5.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.03M
$1.78M – $2.37M
NOI $142,383 @ 7.0% cap · market cap 10.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
10
Residential units
90%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,509
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?
Apartment building - Multifamily property with private patios, fenced yards, dedicated laundry areas, and on-site parking.
Where is this apartment building located?
The property is located at 2750-2770 N Goyette Avenue Tucson, AZ.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 10‑unit complex with 2‑bedroom, 1‑bath residences measuring 783 SF each; Four units feature remodeled kitchens and bathrooms; Ten additional storage units included
