Five-Unit Triplex
For Sale
$550,000
321 E Blacklidge Dr, Tucson, AZ 85705
Combined triplex and duplex with individually metered rental units, private fenced yards, and on-site storage.
Property Size3,812 SF
Price / SF$144.28
Days on Market72
Property Features for 321 E Blacklidge Dr
General Information
Standard status
Active
Size
3,812 SF
Property subtype
Multi-Family
Building Details
Year Built
1971
Listing Agency:
Realty Executives Arizona Territory
(520) 850-5877
Listed By:
Jaime D Fallwell
Source:
Seetucsonhouses
Added: Jun 21
Changed: Aug 29
Last Checked: Aug 30 at 6:06PM
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 Realty Executives Arizona Territory
Investment Insights
Based on property information with market context.
This multifamily property combines one triplex and one duplex on a single parcel, providing five separate rental units. The configuration includes four two-bedroom, one-bath residences and one one-bedroom, one-bath residence. Each two-bedroom unit follows the same floor plan and features vaulted ceilings with wood beams, while interior finishes include ceramic tile, wood-look laminate, and carpet. Every unit has an A/C unit, a fenced yard, washer and dryer connections on the rear patio, one covered carport space, and one storage closet.
Built in 1971, the property places utility responsibility with residents for electric, gas, water, sewer, and trash. The existing rental occupants should not be disturbed.
Built in 1971, the property places utility responsibility with residents for electric, gas, water, sewer, and trash. The existing rental occupants should not be disturbed.
Key Highlights
- Five rental units on one parcel: one triplex and one duplex
- Unit mix includes four 2‑bedroom/1‑bath units and one 1‑bedroom/1‑bath unit
- Each unit includes a fenced yard, covered carport space, and storage closet
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
$36,824
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
6.70%
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%
$736,480
$736.5K
Cap Rate 7%
$526,057
$526.1K
Cap Rate 9%
$409,156
$409.2K
Market Conditions
NOI Build-Up for 3,812 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
$57.2K $15.00/SF
− Vacancy
−$4.6K −$1.20/SF
EGI
$52.6K $13.80/SF
− OpEx
−$15.8K −$4.14/SF
NOI
$36.8K $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%
$736,480
Cap Rate 7%
$526,057
Cap Rate 9%
$409,156
Alternative Uses
Best Use
Multifamily LT 5
$526.1K
$460.3K – $613.7K
NOI $36,824 @ 7.0% cap · market cap 6.70%
Second Best
Apartment 5plus
$477.3K
$417.6K – $556.8K
NOI $33,409 @ 7.0% cap · market cap 6.07%
Theoretical Best
Office A
$877.2K
$767.5K – $1.02M
NOI $61,403 @ 7.0% cap · market cap 11.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,039
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 - Combined triplex and duplex with individually metered rental units, private fenced yards, and on-site storage.
Where is this triplex located?
The property is located at 321 E Blacklidge Dr Tucson, AZ.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Five rental units on one parcel: one triplex and one duplex; Unit mix includes four 2‑bedroom/1‑bath units and one 1‑bedroom/1‑bath unit; Each unit includes a fenced yard, covered carport space, and storage closet
