Six-Unit Apartment Building Near
For Sale
Contact for pricing
806 East 10th Street, Tucson, AZ 85719
Six professionally maintained 2-bedroom units provide a practical, student-oriented residential income option close to the University of Arizona.
Property Size4,062 SF
Price / SF$332.35
Days on Market86
Property Features for 806 East 10th Street
General Information
Standard status
Active
Size
4,062 SF
Class
B
Property subtype
Multifamily
Zoning
R3
Additional Details
Multifamily Units
6
Building Details
Year Built
1976
Year Renovated
2023
Buildings
1
Units
12
Listing Agency:
Realty Executives Arizona Territory
(520) 247-7480
Listed By:
Omer Kreso · License #AZ 139756113
Source:
Crexi
Added: May 28
Changed: Aug 21
Last Checked: Aug 19 at 10:13PM
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 Executives Arizona Territory
Investment Insights
Based on property information with market context.
806 E 10th Street is a six-unit apartment building with a straightforward residential layout. The property offers six 2-bedroom, 1-bath units, for a total of 12 bedrooms. Units are professionally maintained and are currently operated with in-place income, with rents described as below market in the offering materials.
The building is located four blocks from the University of Arizona campus. From the property, occupants have walkable access to Main Gate Square, 4th Avenue, Downtown Tucson, and the Sun Link streetcar.
This configuration fits well for tenants seeking a university-adjacent base with in-place unit mix, including support for an undergraduate and graduate student tenant profile. The 2-bedroom floorplans also provide flexibility for traditional long-term residents seeking additional space while remaining close to campus and the surrounding commercial areas.
The building is located four blocks from the University of Arizona campus. From the property, occupants have walkable access to Main Gate Square, 4th Avenue, Downtown Tucson, and the Sun Link streetcar.
This configuration fits well for tenants seeking a university-adjacent base with in-place unit mix, including support for an undergraduate and graduate student tenant profile. The 2-bedroom floorplans also provide flexibility for traditional long-term residents seeking additional space while remaining close to campus and the surrounding commercial areas.
Key Highlights
- Six‑unit multifamily property built in 1976
- All units are 2‑bedroom, 1‑bath with 12 total bedrooms across the property
- Located about four blocks from the University of Arizona campus
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
$41,738
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
3.09%
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%
$834,760
$834.8K
Cap Rate 7%
$596,257
$596.3K
Cap Rate 9%
$463,756
$463.8K
Market Conditions
NOI Build-Up for 4,062 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
$82.9K $20.40/SF
− Vacancy
−$7.0K −$1.72/SF
EGI
$75.9K $18.68/SF
− OpEx
−$34.1K −$8.41/SF
NOI
$41.7K $10.28/SF
Area
Tucson, AZ
Vacancy
8.42%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
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%
$834,760
Cap Rate 7%
$596,257
Cap Rate 9%
$463,756
Alternative Uses
Best Use
Apartment 5plus
$596.3K
$521.7K – $695.6K
NOI $41,738 @ 7.0% cap · market cap 3.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.06M
$923.3K – $1.23M
NOI $73,865 @ 7.0% cap · market cap 5.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,880
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Six professionally maintained 2-bedroom units provide a practical, student-oriented residential income option close to the University of Arizona.
Where is this apartment building located?
The property is located at 806 East 10th Street Tucson, AZ.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Six‑unit multifamily property built in 1976; All units are 2‑bedroom, 1‑bath with 12 total bedrooms across the property; Located about four blocks from the University of Arizona campus
