Renovated Fourplex with Private
For Sale
$799,000
2876-2882 N Edith Blvd, Tucson, AZ 85716
Updated fourplex with modern finishes, on-site laundry, and enclosed yards at select units.
Property Size3,702 SF
Price / SF$215.83
Days on Market83
Property Features for 2876-2882 N Edith Blvd
General Information
Standard status
Active
Size
3,702 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA, 2 x 3BR/1.5BA
Multifamily Units
4
Additional Details
Utilities to Site
Yes
Amenities
on-site laundry
private yards
Building Details
Year Built
1964
Listing Agency:
Real Broker
(520) 877-4940
Listed By:
Andrew L Fitzpatrick
Source:
Viewtucsonhomesforsale
Added: Jun 10
Changed: Aug 28
Last Checked: Aug 30 at 6:08PM
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 Real Broker
Investment Insights
Based on property information with market context.
This 3,702 SF fourplex, built in 1964, contains two 2-bedroom, 1-bath residences and two 3-bedroom, 1.5-bath residences. All four units are vacant and have undergone renovation, including new kitchens with quartz countertops, stainless steel appliances, tile flooring, windows, HVAC systems, and a roof. The property also includes on-site laundry and separately metered utilities with four gas meters and four electric meters.
The two larger residences feature oversized, fully enclosed private yards. Located at 2876-2882 N Edith Blvd in Tucson, Arizona, the property combines a defined four-unit layout with extensive recent improvements and unit-specific outdoor space.
The two larger residences feature oversized, fully enclosed private yards. Located at 2876-2882 N Edith Blvd in Tucson, Arizona, the property combines a defined four-unit layout with extensive recent improvements and unit-specific outdoor space.
Key Highlights
- Fourplex with 3,702 SF; all four units are currently vacant
- Unit mix includes two 2‑bedroom, 1‑bath units and two 3‑bedroom, 1.5‑bath units
- Renovations include kitchens, quartz countertops, stainless steel appliances, tile flooring, windows, HVAC systems, and roof
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
$41,483
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
5.19%
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%
$829,660
$829.7K
Cap Rate 7%
$592,614
$592.6K
Cap Rate 9%
$460,922
$460.9K
Market Conditions
NOI Build-Up for 3,702 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
$64.4K $17.40/SF
− Vacancy
−$5.2K −$1.39/SF
EGI
$59.3K $16.01/SF
− OpEx
−$17.8K −$4.80/SF
NOI
$41.5K $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%
$829,660
Cap Rate 7%
$592,614
Cap Rate 9%
$460,922
Alternative Uses
Best Use
Multifamily LT 5
$592.6K
$518.5K – $691.4K
NOI $41,483 @ 7.0% cap · market cap 5.19%
Second Best
Apartment 5plus
$543.4K
$475.5K – $634.0K
NOI $38,039 @ 7.0% cap · market cap 4.76%
Theoretical Best
Office A
$961.7K
$841.5K – $1.12M
NOI $67,318 @ 7.0% cap · market cap 8.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
861
Businesses Nearby
Explore this area
Business Placement
Demographics for 85716, AZ
31,521
Population
19,025
Households
1.7
Avg Household Size
39
Median Age
42%
College-Educated
92%
High-School Grad
7.2 sq mi
ZIP Area
4,378
Density / Sq Mi
$47,009
Median Household Income
$33,367
Median Earnings
$1,021
Median Rent
$300,900
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?
Quadplex - Updated fourplex with modern finishes, on-site laundry, and enclosed yards at select units.
Where is this quadplex located?
The property is located at 2876-2882 N Edith Blvd Tucson, AZ.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Fourplex with 3,702 SF; all four units are currently vacant; Unit mix includes two 2‑bedroom, 1‑bath units and two 3‑bedroom, 1.5‑bath units; Renovations include kitchens, quartz countertops, stainless steel appliances, tile flooring, windows, HVAC systems, and roof
