Three-Unit Student Housing
502 S Fremont Avenue, Tucson, AZ 85719
For Sale
New
$1,895,000
Residential Income, Modern, Tucson, AZ
Property Size5,328 SF
Lot Size0.20 Acres
Price / SF$355.67
Days on Market3
Property Features for 502 S Fremont Avenue
General Information
Property type
Property subtype
Property condition
Zoning
Parking
Security features
Patio and Porch features
Interior features
Accessibility
Appliances
Subdivision
Lot features
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Elementary school
Middle school
High school
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Description
Legal Description
Utilities
Heating system
Cooling system
Water source
Amenities
bike parking
ADA-accessible unit
Building Details
Year built
Number of units
Flooring type
Building materials
Roof type
Architectural style
Listing Agency:
Realty Executives Arizona Territory · Realty Executives International
(520) 877-4940
Listed By:
Eddie D Watters · License AZ #31442
(520) 237-5607
Added: Nov 11
Changed: Nov 12
Last Checked: Nov 13 at 11:06PM
MLS# 22627356
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.
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Investment Insights
Based on property information with market context.
Planned as a three-unit residential income property, this 5,328-square-foot building is under construction and scheduled for completion in 2026. The layout includes 9 bedrooms and 12 bathrooms, with en-suite accommodations and accessible lower-level units. Modern kitchens and baths, ceramic tile flooring, walk-in closets, central air, and a patio are among the building’s features. Electric ranges and dishwashers are specified, along with a metal roof and frame-and-stucco construction.
The property occupies 0.2 acres in Tucson, blocks from the University of Arizona and minutes from Downtown Tucson. Parking includes an asphalt area and additional off-street spaces, with dedicated bike parking also provided. Zoning is Pima County - CR3.
The property occupies 0.2 acres in Tucson, blocks from the University of Arizona and minutes from Downtown Tucson. Parking includes an asphalt area and additional off-street spaces, with dedicated bike parking also provided. Zoning is Pima County - CR3.
Key Highlights
- Three units with 9 bedrooms and 12 bathrooms
- 5,328‑square‑foot building on a 0.2‑acre lot
- Under construction; year built 2026
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,703
Cap Rate
3.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,194,060
$1.2M
Cap Rate 7%
$852,900
$852.9K
Cap Rate 9%
$663,367
$663.4K
Market Conditions
NOI Build-Up for 5,328 SF
Gross rent
$92.7K $17.40/SF
− Vacancy
−$7.4K −$1.39/SF
EGI
$85.3K $16.01/SF
− OpEx
−$25.6K −$4.80/SF
NOI
$59.7K $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 Rate 5%
$1,194,060
Cap Rate 7%
$852,900
Cap Rate 9%
$663,367
Alternative Uses
Best Use
Multifamily LT 5
$852.9K
$746.3K – $995.1K
NOI $59,703 @ 7.0% cap · market cap 3.15%
Second Best
Apartment 5plus
$782.1K
$684.3K – $912.5K
NOI $54,747 @ 7.0% cap · market cap 2.89%
Theoretical Best
Office A
$1.38M
$1.21M – $1.61M
NOI $96,886 @ 7.0% cap · market cap 5.11%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,124
Businesses Nearby
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Business Placement
Demographics for 85719, AZ
46,242
Population
21,707
Households
2.1
Avg Household Size
27
Median Age
46%
College-Educated
93%
High-School Grad
8.0 sq mi
ZIP Area
5,780
Density / Sq Mi
$41,086
Median Household Income
$17,430
Median Earnings
$1,051
Median Rent
$266,900
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Tucson, AZ
Properties on Market for Triplexes in Tucson
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - New construction offers en-suite accommodations, accessible lower-level units, and dedicated parking and bike storage.
Where is this triplex located?
The property is located at 502 S Fremont Avenue Tucson, AZ.
What is the asking price?
The asking price for this property is $1,895,000.
What are key features of this property?
This property features: Three units with 9 bedrooms and 12 bathrooms; 5,328‑square‑foot building on a 0.2‑acre lot; Under construction; year built 2026
