5-Unit Multifamily
For Sale
$550,000
321 E Blacklidge Drive, Tucson, AZ 85705
Residential Income, Southwestern, Tucson, AZ
Property Size3,812 SF
Lot Size0.35 Acres
Price / SF$144.28
Days on Market61
Property Features for 321 E Blacklidge Drive
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
Tucson - R2
Parking
5
Interior features
Beamed Ceilings
Fencing
Fenced
Appliances
Double Sink, Gas Range, Dishwasher, Disposal, Refrigerator
Subdivision
Coronado Heights
Lot features
Flower Beds, Shrubs, East/ West Exposure, Subdivided
Elementary school
Keeling
Middle school
Amphitheater
High school
Amphitheater
Elementary school district
Amphitheater
Middle school district
Amphitheater
High school district
Amphitheater
Directions
FROM FORT LOWELL & 1st AVE: SOUTH ON 1ST AVE. TO BLACKLIDGE; WEST ON BLACKLIDGE; ADDRESS ON NORTH SIDE OF STREET (ENTRY THROUGH TURQUOISE GATES).
Standard status
Active
APN
107-11-255B
Size
3,812 SF
Lot size
0.35 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Coronado Heights E 100' Of Lot 7 & W 30' Of E 100' Lot 10 Blk 14
Legal Description
Coronado Heights E 100' Of Lot 7 & W 30' Of E 100' Lot 10 Blk 14
Utilities
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
A/C units
fenced yards
washer & dryer hook-ups
Building Details
Year built
1971
Number of units
4
Flooring type
Carpet, Tile - Ceramic
Building materials
Block
Roof type
Shingle
Architectural style
Other
Listing Agency:
Realty Executives Arizona Territory · Realty Executives International
(520) 314-3255
Listed By:
Jaime D Fallwell
(520) 870-2967
Added: Jun 22
Changed: Aug 19
Last Checked: Aug 21 at 4:06PM
MLS# 22615658
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 multifamily property combines a triplex and duplex on one parcel, with five rental units totaling 3,812 square feet. The unit mix includes four two-bedroom, one-bath residences and one one-bedroom, one-bath residence. The two-bedroom layouts are consistent and feature vaulted ceilings with wood beams, while finishes include ceramic tile, wood-look laminate, and carpet. Each unit has air conditioning, a fenced yard, washer and dryer hookups on the rear patio, one covered carport space, and a storage closet. Construction is block, with forced-air heating, central air, a shingle roof, and public water service.
Located at 321 E Blacklidge Drive in Tucson, Arizona, the property is zoned Tucson - R2. Residents pay electric, gas, water, sewer, and trash utilities directly. The property was built in 1971 and includes gas ranges, dishwashers, disposals, refrigerators, and double sinks in the units.
Located at 321 E Blacklidge Drive in Tucson, Arizona, the property is zoned Tucson - R2. Residents pay electric, gas, water, sewer, and trash utilities directly. The property was built in 1971 and includes gas ranges, dishwashers, disposals, refrigerators, and double sinks in the units.
Key Highlights
- Five rental units: four 2‑bedroom/1‑bath units and one 1‑bedroom/1‑bath unit
- Triplex and duplex situated on a single 0.35‑acre parcel
- 3,812 square feet of property size
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
$33,409
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
6.07%
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%
$668,180
$668.2K
Cap Rate 7%
$477,271
$477.3K
Cap Rate 9%
$371,211
$371.2K
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
$66.3K $17.40/SF
− Vacancy
−$5.6K −$1.47/SF
EGI
$60.7K $15.93/SF
− OpEx
−$27.3K −$7.17/SF
NOI
$33.4K $8.76/SF
Area
ZIP 85705
Vacancy
8.42%
Lease Rate
$17.40 /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%
$668,180
Cap Rate 7%
$477,271
Cap Rate 9%
$371,211
Alternative Uses
Best Use
Apartment 5plus
$477.3K
$417.6K – $556.8K
NOI $33,409 @ 7.0% cap · market cap 6.07%
Second Best
—
—
no second resolved use
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
Lease Details
5
Residential units
Yes
Fenced yard
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?
Multifamily property - Two residential buildings offer varied unit layouts, private fenced yards, air conditioning, and individual utility responsibility.
Where is this multifamily property located?
The property is located at 321 E Blacklidge Drive 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: four 2‑bedroom/1‑bath units and one 1‑bedroom/1‑bath unit; Triplex and duplex situated on a single 0.35‑acre parcel; 3,812 square feet of property size
