Ranch Quadplex with Adobe
For Sale
$570,000
4155 E Bellevue Street, Tucson, AZ 85712
Residential Income, Ranch, Tucson, AZ
Property Size2,908 SF
Lot Size0.32 Acres
Price / SF$196.01
Days on Market93
Property Features for 4155 E Bellevue Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
Tucson - R2
Parking
10
Interior features
Adobe, Bath Exhaust Out, Kit Exhaust Out, Only Native Plants, Water Sense Faucets, Beamed Ceilings, Vaulted Ceiling(s)
Fencing
Chain Link
Accessibility
Accessible Approach with Ramp
Appliances
Tankless Water Heater, Double Sink, Gas Range, Refrigerator
Subdivision
Speedway Addition NO. 1
Lot features
Graded, Decorative Gravel, Corner Lot, East/ West Exposure
View
City
Elementary school
Cragin
Middle school
Doolen
High school
Rincon
Elementary school district
TUSD
Middle school district
TUSD
High school district
TUSD
Directions
Speedway and Columbus north to Bellevue west to address. NE corner of Bryant and Bellevue.
Standard status
Active
APN
122-13-1030
Size
2,908 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
Speedway No 1 W2 S115' Lot 1 Blk 7 and Speedway No1 E2 S115' Lot 1 Blk7
Legal Description
Speedway No 1 W2 S115' Lot 1 Blk 7 and Speedway No1 E2 S115' Lot 1 Blk7
Utilities
Heating system
Forced Air, Natural Gas, Heat Pump (Heating)
Cooling system
Central Air, Ceiling Fan(s), Heat Pump, Gas (Cooling)
Water source
Public
Amenities
w/d hook ups
fenced rear yards
Building Details
Year built
1960
Number of units
4
Flooring type
Tile - Ceramic
Building materials
Adobe
Roof type
Built-Up
Architectural style
Ranch
Listing Agency:
Realty Executives Arizona Territory · Realty Executives International
(520) 877-4940
Listed By:
James P Robertson
(520) 331-5466
Added: Jul 2
Changed: Sep 17
Last Checked: Oct 2 at 5:06AM
MLS# 22616351
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 Tucson quadplex contains four residential units arranged as two 2-bedroom homes and two 1-bedroom homes. The approximately 2,908-square-foot property features adobe construction, ceramic tile flooring, fenced rear yards, washer and dryer hookups, and a combination of updated appliances and 100-amp electrical service. Two-bedroom units have split-system AC, while the one-bedroom units use mini-split systems. All units have new water heaters, including an on-demand unit at 4159.
The property sits on 0.32 acres and carries Tucson - R2 zoning. Additional features include built-up roofing, sealed adobe walls, natural gas, public water, forced-air and heat-pump systems, and an accessible approach with ramp. Roof coating has been applied to both buildings on a three-year cycle, with the most recent work completed in 2026.
The property sits on 0.32 acres and carries Tucson - R2 zoning. Additional features include built-up roofing, sealed adobe walls, natural gas, public water, forced-air and heat-pump systems, and an accessible approach with ramp. Roof coating has been applied to both buildings on a three-year cycle, with the most recent work completed in 2026.
Key Highlights
- Four‑unit configuration with two 2‑bedroom and two 1‑bedroom residences
- Approximately 2,908 square feet on a 0.32‑acre parcel
- Tucson - R2 zoning
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
$32,586
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
5.72%
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%
$651,720
$651.7K
Cap Rate 7%
$465,514
$465.5K
Cap Rate 9%
$362,067
$362.1K
Market Conditions
NOI Build-Up for 2,908 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
$50.6K $17.40/SF
− Vacancy
−$4.0K −$1.39/SF
EGI
$46.6K $16.01/SF
− OpEx
−$14.0K −$4.80/SF
NOI
$32.6K $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%
$651,720
Cap Rate 7%
$465,514
Cap Rate 9%
$362,067
Alternative Uses
Best Use
Multifamily LT 5
$465.5K
$407.3K – $543.1K
NOI $32,586 @ 7.0% cap · market cap 5.72%
Second Best
Apartment 5plus
$426.9K
$373.5K – $498.0K
NOI $29,881 @ 7.0% cap · market cap 5.24%
Theoretical Best
Office A
$755.4K
$661.0K – $881.3K
NOI $52,880 @ 7.0% cap · market cap 9.28%
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
1,587
Businesses Nearby
Explore this area
Business Placement
Demographics for 85712, AZ
33,108
Population
18,215
Households
1.8
Avg Household Size
44
Median Age
37%
College-Educated
90%
High-School Grad
6.8 sq mi
ZIP Area
4,869
Density / Sq Mi
$48,185
Median Household Income
$39,090
Median Earnings
$947
Median Rent
$250,400
Median Home Value
Check the figures for this property
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 - Four residential units offer fenced rear yards, laundry hookups, ceramic tile, and updated building systems.
Where is this quadplex located?
The property is located at 4155 E Bellevue Street Tucson, AZ.
What is the asking price?
The asking price for this property is $570,000.
What are key features of this property?
This property features: Four‑unit configuration with two 2‑bedroom and two 1‑bedroom residences; Approximately 2,908 square feet on a 0.32‑acre parcel; Tucson - R2 zoning
