12-Unit Apartment
For Sale
$1,100,000
880 S Hwy 80, Benson, AZ 85602
Benson Vista Apartments is a 12-unit residential income property with 2-bedroom, 1-bath units and 11 currently occupied.
Property Size7,812 SF
Price / SF$140.81
Days on Market64
Property Features for 880 S Hwy 80
General Information
Standard status
Active
Size
7,812 SF
Property subtype
Commercial
Occupancy
92%
Additional Details
Highway Access
Yes
Multifamily Units
12
Building Details
Year Built
1973
Tenancy
Multi
Listing Agency:
Haymore Real Estate, LLC
(520) 904-0204
Listed By:
Tara L Finch
Source:
Anthony.viewalltucsonhomes
Added: Jun 21
Changed: Aug 23
Last Checked: Aug 22 at 12:30PM
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 Haymore Real Estate, LLC
Investment Insights
Based on property information with market context.
Benson Vista Apartments is a 12-unit apartment building offering units configured with 2 bedrooms and 1 bathroom. Eleven of the 12 units are currently occupied, supporting immediate rental income. The property presents as a straightforward multifamily asset for ownership.
The building is located off Highway 80 in Benson, Arizona, providing convenient access to local amenities and major travel routes.
For buyers seeking a small residential income portfolio, the current occupancy and unit mix provide a practical starting point for ongoing operations.
The building is located off Highway 80 in Benson, Arizona, providing convenient access to local amenities and major travel routes.
For buyers seeking a small residential income portfolio, the current occupancy and unit mix provide a practical starting point for ongoing operations.
Key Highlights
- 12‑unit apartment building with 2‑bedroom, 1‑bath units
- 11 of 12 units currently occupied for immediate rental income
- Multi‑family property located off Highway 80 in Benson
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
$37,119
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
3.37%
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%
$742,380
$742.4K
Cap Rate 7%
$530,271
$530.3K
Cap Rate 9%
$412,433
$412.4K
Market Conditions
NOI Build-Up for 7,812 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
$83.4K $10.68/SF
− Vacancy
−$15.9K −$2.04/SF
EGI
$67.5K $8.64/SF
− OpEx
−$30.4K −$3.89/SF
NOI
$37.1K $4.75/SF
Area
Cochise County, AZ
Vacancy
19.11%
Lease Rate
$10.68 /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%
$742,380
Cap Rate 7%
$530,271
Cap Rate 9%
$412,433
Alternative Uses
Best Use
Apartment 5plus
$530.3K
$464.0K – $618.7K
NOI $37,119 @ 7.0% cap · market cap 3.37%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.16M
$1.01M – $1.35M
NOI $81,030 @ 7.0% cap · market cap 7.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
91.7%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
58
Businesses Nearby
Explore this area
Business Placement
Demographics for 85602, AZ
10,198
Population
5,386
Households
1.9
Avg Household Size
54
Median Age
26%
College-Educated
91%
High-School Grad
847.5 sq mi
ZIP Area
12
Density / Sq Mi
$53,725
Median Household Income
$32,471
Median Earnings
$760
Median Rent
$195,500
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 - Benson Vista Apartments is a 12-unit residential income property with 2-bedroom, 1-bath units and 11 currently occupied.
Where is this apartment building located?
The property is located at 880 S Hwy 80 Benson, AZ.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 12‑unit apartment building with 2‑bedroom, 1‑bath units; 11 of 12 units currently occupied for immediate rental income; Multi‑family property located off Highway 80 in Benson
