2531 Fontana Ave Tucson, AZ 85705
- Land
- 0.81 lot acres
Current Use by Public Records
- Land
Property Details for 2531 Fontana Ave
- Lot size
- 0.81 lot acres
- Property type
- Land
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Tucson
- County
- Pima
- State
- Arizona
- Longitude
- -110.968
- Latitude
- 32.2532
