Contemporary Attached
New
For Sale
$424,900
512 N Cherokee Avenue, Tucson, AZ 85745
Residential Income, Contemporary, Tucson, AZ
Property Size1,877 SF
Lot Size0.15 Acres
Price / SF$226.37
Days on Market2
Property Features for 512 N Cherokee Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Tucson - R2
Parking
4
Interior features
Walk-In Closet(s)
Appliances
Electric Range, Dishwasher, Disposal, Refrigerator
Subdivision
El Rio Park
Lot features
Decorative Gravel, East/ West Exposure, Subdivided
Elementary school
Manzo
Middle school
Maxwell K-8
High school
Tucson
Elementary school district
TUSD
Middle school district
TUSD
High school district
TUSD
Directions
I-10/St Marys Rd-West on St Marys Rd. R on Cherokee Ave. Address on R.
Standard status
Active
APN
116-12-474B
Size
1,877 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
EL RIO PARK LOTS 9 & 10 BLK 20
Legal Description
EL RIO PARK LOTS 9 & 10 BLK 20
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Central Air, Ceiling Fan(s)
Water source
Public
Amenities
dishwashers
washer/dryer hookups
separately metered
tile flooring
landscaped backyard
storage shed
Building Details
Year built
2022
Number of units
2
Flooring type
Tile - Ceramic
Building materials
Frame - Stucco
Roof type
Tile
Architectural style
Contemporary
Listing Agency:
Realty One Group Integrity
(520) 447-5922
Listed By:
Courtney Seely · License #SA700701000
(251) 725-8509
Added: Aug 20
Changed: Aug 21
Last Checked: Aug 21 at 7:06AM
MLS# 22620326
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 attached duplex in Tucson’s Barrio Hollywood combines two distinct residences with contemporary styling and practical household features. One unit provides 3 bedrooms and 2 bathrooms, while the second has an open-concept 2-bedroom, 1-bath layout with ceramic tile flooring. Both residences are separately metered and include dishwashers, refrigerators, electric ranges, disposals, and washer/dryer hookups. Central air, ceiling fans, heat pump heating, public water, and tile roofing further support daily functionality. The second unit adds a landscaped backyard with turf, decorative rock, and a storage shed.
The property is located near Downtown Tucson, St. Mary’s Hospital, shopping, dining, and public transportation. Zoning is Tucson - R2, and the property includes two dedicated parking spaces.
The property is located near Downtown Tucson, St. Mary’s Hospital, shopping, dining, and public transportation. Zoning is Tucson - R2, and the property includes two dedicated parking spaces.
Key Highlights
- Attached duplex with 3‑bedroom and 2‑bedroom residences
- Unit 1 includes 3 bedrooms and 2 bathrooms
- Unit 2 offers an open‑concept 2‑bedroom, 1‑bath layout
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 - Separate meters, dedicated parking, and modern appliances support practical occupancy.
Where is this duplex located?
The property is located at 512 N Cherokee Avenue 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 with 3‑bedroom and 2‑bedroom residences; Unit 1 includes 3 bedrooms and 2 bathrooms; Unit 2 offers an open‑concept 2‑bedroom, 1‑bath layout
