Tucson Multifamily Property Near
For Sale
$675,000
307 S Grande Avenue, Tucson, AZ 85745
MULTI_FAMILY - Contemporary, Modern - Tucson, AZ
Property Size2,238 SF
Lot Size0.20 Acres
Price / SF$301.61
Days on Market85
Property Features for 307 S Grande Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Tucson - R2
Parking
4
Security features
Security Lighting
Patio and Porch features
Patio
Interior features
Grey-Water Lines, Walk-In Closet(s)
Exterior features
Built-in Barbecue
Fencing
Chain Link
Appliances
Double Sink, Gas Range, Lazy Susan, Water Purifier, Dishwasher, Disposal, Refrigerator
Lot features
Decorative Gravel, East/ West Exposure
Elementary school
Maxwell K-8
Middle school
Maxwell K-8
High school
Cholla
Elementary school district
TUSD
Middle school district
TUSD
High school district
TUSD
Directions
In Front of A Mountain on Grande between Congress & Mission. 3 blocks W of I-10. Subdivision Barrio Sin Nombre kiddy corner to Mercado district.
Subdivision
West
Standard status
Active
APN
116-21-3410
Size
2,238 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
N50' S445' M/L PTN LOT 5 LYG E GRANDE AVE .18 AC SEC 14-14-13
Legal Description
N50' S445' M/L PTN LOT 5 LYG E GRANDE AVE .18 AC SEC 14-14-13
Utilities
Heating system
Natural Gas, Heat Pump (Heating)
Cooling system
Ceiling Fan(s), Central Air
Water source
Public
Building Details
Year built
2018
Number of units
2
Flooring type
Concrete
Building materials
Frame - Stucco, Masonry Stucco
Roof type
Shingle, Metal
Architectural style
Contemporary, Modern
Additional Structures
Gazebo
Listing Agency:
Real Broker
(602) 755-3415
Listed By:
Alicia Marie Pastore
(520) 981-0622
Added: May 29
Changed: Aug 19
Last Checked: Aug 21 at 10:06PM
MLS# 22613620
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 property is ideally located moments from Tucson's destinations, including the San Agustin Mercado and The Annex for dining, shopping, and community events. Downtown Tucson, Fourth Avenue, and the University of Arizona are a short drive away. The location provides easy access to outdoor recreation, hiking, and views of ''A'' Mountain. Situated on one lot, the property includes a 3-bedroom, 2-bath main home and a separate 2-bedroom, 1-bath residence. This property offers possibilities for multigenerational living, space for guests, or rental income generation in a connected location. The property contains 2,238 square feet and sits on a 0.2-acre lot.
Key Highlights
- 2018‑built Tucson property on one lot with a 3‑bedroom, 2‑bath main home plus a separate 2‑bedroom, 1‑bath residence
- Appliances include gas range, dishwasher, disposal, refrigerator, double sink, and a water purifier
- Interior features include walk‑in closets and grey‑water lines
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
$25,078
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
3.72%
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%
$501,560
$501.6K
Cap Rate 7%
$358,257
$358.3K
Cap Rate 9%
$278,644
$278.6K
Market Conditions
NOI Build-Up for 2,238 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
$38.9K $17.40/SF
− Vacancy
−$3.1K −$1.39/SF
EGI
$35.8K $16.01/SF
− OpEx
−$10.7K −$4.80/SF
NOI
$25.1K $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%
$501,560
Cap Rate 7%
$358,257
Cap Rate 9%
$278,644
Alternative Uses
Best Use
Multifamily LT 5
$358.3K
$313.5K – $418.0K
NOI $25,078 @ 7.0% cap · market cap 3.72%
Second Best
Apartment 5plus
$328.5K
$287.5K – $383.3K
NOI $22,996 @ 7.0% cap · market cap 3.41%
Theoretical Best
Office A
$581.4K
$508.7K – $678.3K
NOI $40,697 @ 7.0% cap · market cap 6.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
558
Businesses Nearby
Explore this area
Business Placement
Demographics for 85745, AZ
36,774
Population
17,662
Households
2.1
Avg Household Size
42
Median Age
45%
College-Educated
93%
High-School Grad
47.0 sq mi
ZIP Area
782
Density / Sq Mi
$68,608
Median Household Income
$40,353
Median Earnings
$1,128
Median Rent
$324,100
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?
Duplex - Multifamily property near downtown Tucson with income potential.
Where is this duplex located?
The property is located at 307 S Grande Avenue Tucson, AZ.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 2018‑built Tucson property on one lot with a 3‑bedroom, 2‑bath main home plus a separate 2‑bedroom, 1‑bath residence; Appliances include gas range, dishwasher, disposal, refrigerator, double sink, and a water purifier; Interior features include walk‑in closets and grey‑water lines
