Renovated Multifamily Income
3218 E Benson Hwy Tucson, AZ 85706
3218 E Benson Hwy, Tucson, AZ, 85706
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For Sale
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Renovated 2023 multifamily property with 36 apartment units plus owned mobile homes and RV spaces.
Property Size13,575 SF
Price / SF$174.95
Days on Market120
Property Features for 3218 E Benson Hwy
General Information
- Standard status
- Active
- Size
- 13,575 SF
- Property subtype
- Multifamily
Listing agency
MMG Real Estate Advisors
Listed by
Joe Boyle · License #BR671048000
Source
Crexi
Added: Mar 26 Updated: Jul 22 at 6:50PM Checked: Jul 22 at 6:50PM
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 MMG Real Estate Advisors
Investment Insights
Based on property information with market context.
Western Villas is a renovated multifamily income property featuring 36 apartment units, 2 owned mobile homes, and 4 RV spaces. The asset was renovated in 2023 with extensive capital improvements and is positioned to provide diversified income across multiple revenue streams.
The property is located along the Benson Highway corridor in southeast Tucson, Arizona, and is within a designated Opportunity Zone. The public remarks also note proximity to a major mixed-use development projected to bring job growth and economic impact to the area.
Western Villas offers a mixed residential setup, combining apartments with owned mobile homes and dedicated RV spaces, supported by the 2023 renovation and ongoing property maintenance.
The property is located along the Benson Highway corridor in southeast Tucson, Arizona, and is within a designated Opportunity Zone. The public remarks also note proximity to a major mixed-use development projected to bring job growth and economic impact to the area.
Western Villas offers a mixed residential setup, combining apartments with owned mobile homes and dedicated RV spaces, supported by the 2023 renovation and ongoing property maintenance.
Key Highlights
- Renovated in 2023 multifamily asset with 36 apartment units
- Additional income units include 2 owned mobile homes
- Includes 4 RV spaces for diversified revenue streams
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $231.3k | $17.04 |
| − Vacancy | −$19.5k | −$1.43 |
| EGI | $211.8k | $15.61 |
| − OpEx | −$95.3k | −$7.02 |
| NOI | $116.5k | $8.58 |
13,575 SF · lease $17.04/SF/yr · vacancy 8.42% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.66M
$1.46M – $1.94M
NOI $116,513 @ 7.0% cap · market cap 4.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.81M
$2.46M – $3.27M
NOI $196,490 @ 7.0% cap · market cap 8.27%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Western Motel
Hotel & Motel
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Renovated 2023 multifamily property with 36 apartment units plus owned mobile homes and RV spaces.
Where is this apartment building located?
The property is located at 3218 E Benson Hwy Tucson, AZ.
What is the asking price?
The asking price for this property is $2,375,000.
What are key features of this property?
This property features: Renovated in 2023 multifamily asset with 36 apartment units; Additional income units include 2 owned mobile homes; Includes 4 RV spaces for diversified revenue streams
