Three-Unit Residential Income
For Sale
Under Contract
$420,000
645 W Mabel Street, Tucson, AZ 85705
MULTI_FAMILY - Other - Tucson, AZ
Property Size1,863 SF
Lot Size0.15 Acres
Price / SF$225.44
Days on Market155
Property Features for 645 W Mabel Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
Tucson - R2
Parking
3
Fencing
Chain Link
Appliances
Electric Range, Disposal, Refrigerator
Subdivision
Oracle Park Addition
Lot features
Decorative Gravel, Corner Lot
Elementary school
Cragin
Middle school
Doolen
High school
Tucson
Elementary school district
TUSD
Middle school district
TUSD
High school district
TUSD
Directions
From Speedway and Main, head North on Main to Mabel. Turn West (left) on Mabel and continue straight.
Standard status
Active Under Contract
APN
11518202A
Size
1,863 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
ORACLE PARK LOT 10 & 11 BLK 8
Legal Description
ORACLE PARK LOT 10 & 11 BLK 8
Utilities
Heating system
Electric (Heating)
Cooling system
Window Unit(s), Ceiling Fan(s), Central Air
Water source
Public
Building Details
Year built
1961
Number of units
3
Flooring type
Vinyl
Building materials
Frame - Stucco
Roof type
Built-Up
Architectural style
Other
Listing Agency:
OMNI Homes International
(520) 474-1777
Listed By:
Monica Alejandra Gonzalez Cruz
(520) 686-4309
Added: Mar 11
Changed: Aug 10
Last Checked: Aug 12 at 7:06AM
MLS# 22606500
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 residential income property at 645 W Mabel Street includes three separate units. Unit 1 is a 2-bedroom, 2-bath layout. Unit 2 is a 1-bedroom, 1-bath unit plus a studio apartment, creating three distinct rental spaces under one ownership structure.
The property is located in Tucson, Arizona 85705 within Tucson-R2 zoning. The lot size is listed at 0.15 acres and the total property size is 1,863 square feet. Public remarks note it is positioned centrally in Tucson and described as being just minutes from the University of Arizona and Pima Community College, with convenient access to shopping, public transit, restaurants, and downtown Tucson.
For buyers or owner-occupants seeking rental income with multiple unit types, the mix of a two-bedroom/two-bath plus a 1-bedroom/1-bath and studio configuration can support flexible occupancy strategies. The listing also notes that tenants are in place, so showings require coordination with the listing agent and a call ahead request is recommended.
The property is located in Tucson, Arizona 85705 within Tucson-R2 zoning. The lot size is listed at 0.15 acres and the total property size is 1,863 square feet. Public remarks note it is positioned centrally in Tucson and described as being just minutes from the University of Arizona and Pima Community College, with convenient access to shopping, public transit, restaurants, and downtown Tucson.
For buyers or owner-occupants seeking rental income with multiple unit types, the mix of a two-bedroom/two-bath plus a 1-bedroom/1-bath and studio configuration can support flexible occupancy strategies. The listing also notes that tenants are in place, so showings require coordination with the listing agent and a call ahead request is recommended.
Key Highlights
- Central Tucson duplex with 3 separate units: Unit 1 (2 bed/2 bath), Unit 2 (1 bed/1 bath) and a studio unit
- Appliances included: electric range, disposal, and refrigerator
- Cooling includes central air plus window unit(s) and ceiling fan(s)
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
$17,997
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
4.29%
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%
$359,940
$359.9K
Cap Rate 7%
$257,100
$257.1K
Cap Rate 9%
$199,967
$200.0K
Market Conditions
NOI Build-Up for 1,863 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
$27.9K $15.00/SF
− Vacancy
−$2.2K −$1.20/SF
EGI
$25.7K $13.80/SF
− OpEx
−$7.7K −$4.14/SF
NOI
$18.0K $9.66/SF
Area
ZIP 85705
Vacancy
8.00%
Lease Rate
$15.00 /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%
$359,940
Cap Rate 7%
$257,100
Cap Rate 9%
$199,967
Alternative Uses
Best Use
Multifamily LT 5
$257.1K
$225.0K – $300.0K
NOI $17,997 @ 7.0% cap · market cap 4.29%
Second Best
Apartment 5plus
$233.3K
$204.1K – $272.1K
NOI $16,328 @ 7.0% cap · market cap 3.89%
Theoretical Best
Office A
$428.7K
$375.1K – $500.2K
NOI $30,009 @ 7.0% cap · market cap 7.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
856
Businesses Nearby
Explore this area
Business Placement
Demographics for 85705, AZ
56,711
Population
29,145
Households
1.9
Avg Household Size
36
Median Age
20%
College-Educated
80%
High-School Grad
13.6 sq mi
ZIP Area
4,170
Density / Sq Mi
$36,606
Median Household Income
$27,220
Median Earnings
$924
Median Rent
$113,700
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?
Triplex - Income-focused three-unit layout in Tucson, offering multiple rental configurations with convenient access to schools and daily needs.
Where is this triplex located?
The property is located at 645 W Mabel Street Tucson, AZ.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: Central Tucson duplex with 3 separate units: Unit 1 (2 bed/2 bath), Unit 2 (1 bed/1 bath) and a studio unit; Appliances included: electric range, disposal, and refrigerator; Cooling includes central air plus window unit(s) and ceiling fan(s)
