Quadplex with Studio
For Sale
$545,000
3931 E Paseo Dorado, Tucson, AZ 85711
Residential property with air-conditioned studios and a two-bedroom home near shopping, Randolph Park, and the University of Arizona.
Property Size1,810 SF
Price / SF$301.10
Days on Market108
Property Features for 3931 E Paseo Dorado
General Information
Standard status
Active
Size
1,810 SF
Property subtype
Multi-Family
Units
Unit Mix
3 x studio, 1 x 2BR
Multifamily Units
4
Amenities
air conditioning
central heating and cooling
Building Details
Year Built
1946
Listing Agency:
United Real Estate Specialists
Listed By:
Victor J Cabibo · License #37834
(973) 934-2100
Source:
Exploretucsonproperties
Added: Jun 2
Changed: Sep 15
Last Checked: Sep 16 at 10:08PM
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 United Real Estate Specialists
Investment Insights
Based on property information with market context.
This 1,810-square-foot quadplex was built in 1946 and contains four residential units. The configuration includes three studio apartments with air conditioning and one two-bedroom home equipped with central heating and cooling.
The property is located at 3931 E Paseo Dorado in Tucson, near shopping, Randolph Park, and the University of Arizona. Its mix of studio and two-bedroom accommodations provides a varied residential layout within one multifamily asset.
The property is located at 3931 E Paseo Dorado in Tucson, near shopping, Randolph Park, and the University of Arizona. Its mix of studio and two-bedroom accommodations provides a varied residential layout within one multifamily asset.
Key Highlights
- Four‑unit quadplex at 3931 E Paseo Dorado, Tucson, AZ 85711
- 1,810 square feet; built in 1946
- Three air‑conditioned studio units
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
$20,282
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%
$405,640
$405.6K
Cap Rate 7%
$289,743
$289.7K
Cap Rate 9%
$225,356
$225.4K
Market Conditions
NOI Build-Up for 1,810 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
$31.5K $17.40/SF
− Vacancy
−$2.5K −$1.39/SF
EGI
$29.0K $16.01/SF
− OpEx
−$8.7K −$4.80/SF
NOI
$20.3K $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%
$405,640
Cap Rate 7%
$289,743
Cap Rate 9%
$225,356
Alternative Uses
Best Use
Multifamily LT 5
$289.7K
$253.5K – $338.0K
NOI $20,282 @ 7.0% cap · market cap 3.72%
Second Best
Apartment 5plus
$265.7K
$232.5K – $310.0K
NOI $18,598 @ 7.0% cap · market cap 3.41%
Theoretical Best
Office A
$470.2K
$411.4K – $548.6K
NOI $32,914 @ 7.0% cap · market cap 6.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
451
Businesses Nearby
Explore this area
Business Placement
Demographics for 85711, AZ
41,518
Population
19,774
Households
2.1
Avg Household Size
39
Median Age
30%
College-Educated
88%
High-School Grad
8.6 sq mi
ZIP Area
4,828
Density / Sq Mi
$52,358
Median Household Income
$35,130
Median Earnings
$1,001
Median Rent
$248,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Residential property with air-conditioned studios and a two-bedroom home near shopping, Randolph Park, and the University of Arizona.
Where is this quadplex located?
The property is located at 3931 E Paseo Dorado Tucson, AZ.
What is the asking price?
The asking price for this property is $545,000.
What are key features of this property?
This property features: Four‑unit quadplex at 3931 E Paseo Dorado, Tucson, AZ 85711; 1,810 square feet; built in 1946; Three air‑conditioned studio units
