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Property profile & analytics
FOR SALE
Apartment buildings
2432 N Balboa Ave, Tucson, AZ 85705
Individually Owned
3-yr Hold
Absentee Owner
Property ID
US07-0181535
For Sale
1 / 13
$1,395,000
2432 N Balboa Ave, Tucson, AZ 85705
View Listing →
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1948
Construction
FRAME
Total area
3,329 SF
Lot
0.62 ac (27,000 SF)
APN
107-14-2290
UPID
US07-0181535
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Tuzona Properties Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$450k
Comparable Approach
Comparable
$535k
Blend (final)
Blend
$540k
Owner & transaction history
America First Federal Credit Union · 3 yrs held
America First Federal Credit Union
since 2023
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Tucson submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Tucson submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$485,000
6.5%
$450,000
7%
$415,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$855,000
Current use
COMMERCIAL (GENERAL)
$815,000
Change: -5% · Conversion: Moderate
MEDICAL BUILDING
$745,000
Change: -13% · Conversion: Moderate
Blend value · Realmo final
$540k
Range $486k – $594k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$162 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$4,455
Tax year 2023
Assessed value
$130,677
Assessed 2024
Previous assessed
$130,677
+0.0% YoY
Effective rate
3.41%
On assessed value
Assessed land
$90
Assessed improvement
$130,587
Land market value
$502
Improvement market value
$725,483
Total market value
$725,985
Applied tax rate
1,050.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
For Sale
Year built
1948
Construction
FRAME
Heating
NONE
Cooling
EVAPORATIVE
Buildings
2
Stories
1
Units
14
Total area
3,329 SF
Lot
0.62 ac (27,000 SF)
APN
107-14-2290
UPID
US07-0181535
Jurisdiction
PIMA
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$855,000
COMMERCIAL (GENERAL)
Est. value
$815,000
MEDICAL BUILDING
Est. value
$745,000
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1948
Construction
FRAME
Heating
NONE
Cooling
Yes
Stories
1
Buildings
2
Units
14
Lot
0.62 ac
Current owner
From public records · entity-resolved
America First Federal Credit Union
Individual
Mailing address
1021 S 6TH AVE, TUCSON, AZ 85701-3003
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 13, 2023
—
America First Federal Credit Union
Equilibrium Villas LLC
Assignment Of Lease (leasehold Sale)
related
—
Apr 7, 2021
$700,000
Equilibrium Villas LLC
Patricia J Thrash
Special Warranty Deed
—
—
—
Tuzona One
—
Deed Of Trust
related
$100,000 · Silver Hill Financial LLC
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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