Attached Duplex with Private
For Sale
$424,900
512 N Cherokee Ave, Tucson, AZ 85745
Newer two-unit property with separate metering, in-unit laundry hookups, appliances, and dedicated parking.
Property Size1,877 SF
Lot Size0.18 Acres
Price / SF$226.37
Days on Market14
Property Features for 512 N Cherokee Ave
General Information
Standard status
Active
Size
1,877 SF
Lot size
0.18 Acres
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Amenities
dishwashers
washer/dryer hookups
landscaped backyard
storage shed
Building Details
Year Built
2022
Buildings
1
Listing Agency:
Realty One Group Integrity
(520) 906-0769
Listed By:
Courtney Seely · License #SA700701000
Source:
Viewtucsonhomesforsale
Added: Aug 18
Changed: Aug 27
Last Checked: Aug 30 at 6:02PM
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 Realty One Group Integrity
Investment Insights
Based on property information with market context.
This attached duplex comprises two distinct residences on a 0.18-acre lot. Unit 1 provides three bedrooms and two bathrooms, while Unit 2 has two bedrooms, one bathroom, an open living arrangement, and tile flooring throughout. The property includes separate utility metering, dishwashers, washer and dryer hookups, and two dedicated parking spaces. Unit 2 adds a landscaped rear yard with artificial turf, decorative rock, and a storage shed.
The property is located at 512 N Cherokee Ave in Tucson’s Barrio Hollywood neighborhood, with access to Downtown Tucson, St. Mary's Hospital, retail, restaurants, and public transportation. Its two-unit configuration supports separate occupancy and offers the flexibility to occupy one residence while leasing the other.
The property is located at 512 N Cherokee Ave in Tucson’s Barrio Hollywood neighborhood, with access to Downtown Tucson, St. Mary's Hospital, retail, restaurants, and public transportation. Its two-unit configuration supports separate occupancy and offers the flexibility to occupy one residence while leasing the other.
Key Highlights
- Attached duplex on a 0.18‑acre lot
- Unit 1 includes 3 bedrooms and 2 bathrooms
- Unit 2 offers 2 bedrooms, 1 bathroom, and tile flooring throughout
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
$21,033
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
4.95%
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%
$420,660
$420.7K
Cap Rate 7%
$300,471
$300.5K
Cap Rate 9%
$233,700
$233.7K
Market Conditions
NOI Build-Up for 1,877 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
$32.7K $17.40/SF
− Vacancy
−$2.6K −$1.39/SF
EGI
$30.0K $16.01/SF
− OpEx
−$9.0K −$4.80/SF
NOI
$21.0K $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%
$420,660
Cap Rate 7%
$300,471
Cap Rate 9%
$233,700
Alternative Uses
Best Use
Multifamily LT 5
$300.5K
$262.9K – $350.6K
NOI $21,033 @ 7.0% cap · market cap 4.95%
Second Best
Apartment 5plus
$275.5K
$241.1K – $321.5K
NOI $19,287 @ 7.0% cap · market cap 4.54%
Theoretical Best
Office A
$487.6K
$426.7K – $568.9K
NOI $34,132 @ 7.0% cap · market cap 8.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,083
Businesses Nearby
Explore this area
Business Placement
Demographics for 85745, AZ
36,774
Population
17,662
Households
2.1
Avg Household Size
42
Median Age
45%
College-Educated
93%
High-School Grad
47.0 sq mi
ZIP Area
782
Density / Sq Mi
$68,608
Median Household Income
$40,353
Median Earnings
$1,128
Median Rent
$324,100
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Newer two-unit property with separate metering, in-unit laundry hookups, appliances, and dedicated parking.
Where is this duplex located?
The property is located at 512 N Cherokee Ave Tucson, AZ.
What is the asking price?
The asking price for this property is $424,900.
What are key features of this property?
This property features: Attached duplex on a 0.18‑acre lot; Unit 1 includes 3 bedrooms and 2 bathrooms; Unit 2 offers 2 bedrooms, 1 bathroom, and tile flooring throughout
