2531 Fontana Ave Tucson, AZ 85705
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Tucson Multifamily Land, $670K
Property Features for 2531 Fontana Ave
General Information
- Property type
- Multifamily properties
- Class
- C
- Lot Size
- 35,284 SF
Building Details
- Buildings
- 1
Listing Agency: MFI Commercial Listing Agent: Elan Spreiser
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This exceptional 0.81-acre land parcel in Tucson, Arizona, presents a compelling redevelopment opportunity for investors seeking to capitalize on the city's robust multifamily housing market. Located at 2531 and 2535 N Fontana Ave, in Pima County (zip code 85705), this fee-simple property is zoned R-2, allowing for significant development potential. Currently, a three-bedroom, two-bathroom single-family residence at 2531 N Fontana Ave generates a monthly rental income of $1,200. The adjacent lot at 2535 N Fontana Ave offers the potential for further development, allowing for the creation of additional multifamily units to maximize rental income. The property's location within Enterprise and Empowerment Zones provides access to potential tax incentives, enhancing the overall return on investment. The surrounding neighborhood boasts convenient access to parks, schools, shopping centers, and public transportation, making it an attractive location for renters. This combination of existing income, development potential, and desirable location makes this property an ideal investment for those seeking to expand their multifamily portfolio in a thriving Tucson market. The property's APN is 107-14-090C. This is a Class C property with one existing building.
Property Profile
Location Intelligence
Current Use by Public Records
Commercial real estate
Location Insight
- Map
- Local Demand
- City
- Tucson
- County
- Pima
- State
- Arizona
- Longitude
- -110.9679865
- Latitude
- 32.253194
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FAQs
What type of property is this?
Multifamily property - Tucson Multifamily Land, $670K
Where is this multifamily property located?
The property is located at 2531 Fontana Ave Tucson, AZ.
What is the asking price?
The asking price for this property is $670,000.
What are key features of this property?
This property features: Strong Current Income: $1,200/month rental income from a 3 bed, 2 bath single-family residence at 2531 N Fontana Ave.; Significant Development Potential: Adjacent vacant lot at 2535 N Fontana Ave allows for multi-family development, leveraging R-2 zoning.;