Tucson Tri-plex Investment
For Sale
$475,000
Tucson, AZ 85719, Tucson, AZ 85719
Residential Income, Bungalow, Tucson, AZ
Property Size2,043 SF
Lot Size0.17 Acres
Price / SF$232.50
Days on Market149
Property Features
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
Other - CALL
Parking
3
Interior features
Beamed Ceilings
Fencing
Chain Link
Appliances
Gas Range, Refrigerator
Subdivision
Rieckers Addition
Lot features
Decorative Gravel, East/ West Exposure
Elementary school
Roskruge
Middle school
Mansfeld
High school
Tucson
Elementary school district
TUSD
Middle school district
TUSD
High school district
TUSD
Directions
North on Euclid, East on 9th St, property located on North side of the street.
Standard status
Active
APN
124-07-010C
Size
2,043 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Rieckers Lot 11 Blk 1
Legal Description
Rieckers Lot 11 Blk 1
Utilities
Heating system
Forced Air
Cooling system
Evaporative Cooling
Water source
Public
Amenities
on-site parking
low-maintenance outdoor areas
Building Details
Year built
1948
Number of units
3
Flooring type
Concrete
Building materials
Brick
Roof type
Shingle
Architectural style
Bungalow
Listing Agency:
eXp Realty
(520) 885-9000
Listed By:
Marsee Wilhems
(602) 525-3224
Added: Mar 27
Changed: Aug 19
Last Checked: Aug 22 at 4:06AM
MLS# 22607998
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.
Located in the heart of Tucson, this triplex presents an investment or owner-user opportunity with income potential and classic Southwest charm. The property offers access to downtown, the University of Arizona, and major transportation corridors. Each space is designed for comfortable living, while the overall property provides flexibility for a variety of uses. On-site parking and low-maintenance outdoor areas add to the appeal. The property size is 2043 square feet and the lot size is 0.17 acres.
Key Highlights
- 1948 brick bungalow tri‑plex with shingle roof and beamed ceilings
- Forced‑air heating and evaporative cooling
- Units include a gas range and refrigerator
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
$22,893
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
4.82%
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%
$457,860
$457.9K
Cap Rate 7%
$327,043
$327.0K
Cap Rate 9%
$254,367
$254.4K
Market Conditions
NOI Build-Up for 2,043 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
$35.5K $17.40/SF
− Vacancy
−$2.8K −$1.39/SF
EGI
$32.7K $16.01/SF
− OpEx
−$9.8K −$4.80/SF
NOI
$22.9K $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%
$457,860
Cap Rate 7%
$327,043
Cap Rate 9%
$254,367
Alternative Uses
Best Use
Multifamily LT 5
$327.0K
$286.2K – $381.6K
NOI $22,893 @ 7.0% cap · market cap 4.82%
Second Best
Apartment 5plus
$299.9K
$262.4K – $349.9K
NOI $20,992 @ 7.0% cap · market cap 4.42%
Theoretical Best
Office A
$530.7K
$464.4K – $619.2K
NOI $37,151 @ 7.0% cap · market cap 7.82%
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
2,032
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Tri-plex in the heart of Tucson with income potential.
Where is this triplex located?
The property is located at Tucson, AZ.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 1948 brick bungalow tri‑plex with shingle roof and beamed ceilings; Forced‑air heating and evaporative cooling; Units include a gas range and refrigerator
