Updated Quadplex with Fenced
For Sale
$525,000
5011 E 1st Street, Tucson, AZ 85711
Residential Income, Ranch, Southwestern, Tucson, AZ
Property Size2,548 SF
Lot Size0.20 Acres
Price / SF$206.04
Days on Market55
Property Features for 5011 E 1st Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
Tucson - R2
Parking
8
Interior features
Beamed Ceilings
Fencing
Chain Link
Appliances
Double Sink, Gas Range, Refrigerator
Subdivision
Speedway Tracts
Lot features
Decorative Gravel, North/ South Exposure, Subdivided
Elementary school
Howell
Middle school
Alice Vail
High school
Rincon
Elementary school district
TUSD
Middle school district
TUSD
High school district
TUSD
Directions
Rosemont/Speedway, S to 1st, W to address.
Standard status
Active
APN
127-04-043C
Size
2,548 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
From Parcel:12704043A /Speedway Tracts N67.88' S97.88' Lot 2 Blk 2
Legal Description
From Parcel:12704043A /Speedway Tracts N67.88' S97.88' Lot 2 Blk 2
Utilities
Heating system
Wall Furnace, Natural Gas
Cooling system
Evaporative Cooling, Wall Unit(s)
Water source
Public
Amenities
laundry rooms
fenced backyards
evap coolers
window AC
wall heaters
Building Details
Year built
1947
Number of units
4
Building materials
Block, Masonry Stucco
Roof type
Built-Up
Architectural style
Ranch
Listing Agency:
Keller Williams Southern Arizona · Keller Williams Realty
(520) 615-8400
Listed By:
Kelly Garcia
(520) 270-2535
Added: Aug 4
Changed: Sep 16
Last Checked: Sep 27 at 1:06PM
MLS# 22618981
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 2 duplex buildings with four 1-bedroom, 1-bath residences across 2,548 square feet. Each unit includes a kitchen with a refrigerator and gas range, a laundry room, and a fenced backyard. Three of the four interiors feature updated paint, LVP flooring, and several newer appliances. Building improvements include re-piped water lines, serviced and coated built-up roofs, and fresh exterior paint. Cooling is provided by evaporative systems with window AC assistance, while wall furnaces provide natural-gas heat.
The property occupies 0.2 acres in Tucson and is zoned Tucson - R2. Electric and gas are separately metered, with tenants paying those utilities; water, sewer, and trash are shared by building and paid by the landlord. Off-street parking accommodates at least 2 vehicles per unit.
The property occupies 0.2 acres in Tucson and is zoned Tucson - R2. Electric and gas are separately metered, with tenants paying those utilities; water, sewer, and trash are shared by building and paid by the landlord. Off-street parking accommodates at least 2 vehicles per unit.
Key Highlights
- Fourplex configured as 2 duplex buildings with four 1‑bedroom, 1‑bath units
- 2,548 square feet on 0.2 acres in Tucson - R2 zoning
- At least 2 off‑street parking spaces per unit, plus fenced backyards
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
$28,552
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
5.44%
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%
$571,040
$571.0K
Cap Rate 7%
$407,886
$407.9K
Cap Rate 9%
$317,244
$317.2K
Market Conditions
NOI Build-Up for 2,548 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
$44.3K $17.40/SF
− Vacancy
−$3.5K −$1.39/SF
EGI
$40.8K $16.01/SF
− OpEx
−$12.2K −$4.80/SF
NOI
$28.6K $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%
$571,040
Cap Rate 7%
$407,886
Cap Rate 9%
$317,244
Alternative Uses
Best Use
Multifamily LT 5
$407.9K
$356.9K – $475.9K
NOI $28,552 @ 7.0% cap · market cap 5.44%
Second Best
Apartment 5plus
$374.0K
$327.3K – $436.4K
NOI $26,181 @ 7.0% cap · market cap 4.99%
Theoretical Best
Office A
$661.9K
$579.2K – $772.2K
NOI $46,334 @ 7.0% cap · market cap 8.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,542
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four one-bedroom residences offer separately metered electric and gas, private yards, and off-street parking.
Where is this quadplex located?
The property is located at 5011 E 1st Street Tucson, AZ.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Fourplex configured as 2 duplex buildings with four 1‑bedroom, 1‑bath units; 2,548 square feet on 0.2 acres in Tucson - R2 zoning; At least 2 off‑street parking spaces per unit, plus fenced backyards
