120 E 33rd St - Apartments FOR SALE


Tucson, AZ 85713- South Park
$625,000 USD
520-490-2113
120 E 33rd St, Tucson, AZ for Sale
$625,000 USD
Apartments - FOR SALE
1/26
null | 7.2% Cap Rate

120 E 33rd St
Tucson, AZ 85713
South Park


HIGHLIGHTS

  • Recent capital improvements
  • Historically high occupancy
  • Property management in-place
  • Below market rents
  • Landlord pays all utilities (Some RUBS in-place - included in rents)
  • Exterior improvements include paint, landscape, roof, electrical, & windows

OVERVIEW

33rd Studios, located in South Tucson, presents a compelling opportunity for investors to capitalize on the rapid growth along the I-10 and Kino Parkway corridors. The property consists of ten (10) studio apartments and offers a true turn-key investment with historically high occupancy. The units were extensively renovated in 2020 and feature tile flooring, updated countertops, modern appliances, remodeled bathrooms, and fresh paint throughout. Property amenities include a paved parking lot, secure entry doors, maintained landscaping, and individual air conditioning units for each studio. Enhancing both tenant comfort and retention. All units are master-metered for water, sewer, trash, gas, and electricity. Utilities are paid for by the landlord and billed back to tenants through a RUBS program, resulting in a low-expense operating structure and predictable cash flow for ownership. The primary upside lies in the opportunity to increase rents to current market levels. Additional value can be unlocked through targeted exterior and common-area improvements, which have the potential to significantly enhance both operating income and overall property value. The surrounding area is supported by several large employers, providing a stable and consistent tenant base that supports long-term rental demand. Strategically positioned in South Tucson, 33rd Studios offers convenient access to Tucson Marketplace, Kino Sports Complex, and the recently announced Mosaic Quarters development. The property appeals to a diverse tenant base seeking proximity to employment centers, retail, dining, and entertainment. Its location near emerging commercial corridors further strengthens long-term investment potential, making 33rd Studios an attractive opportunity for investors seeking stable returns with meaningful growth upside.

FOR SALE DETAILS

PRICE

$625,000 USD

PRICE/SF

$226 USD /SF

# OF UNITS

10

PRICE/UNIT

$62,500

CAP RATE

7.2%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

33rd Studios

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1950

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,998 SF

ZONING

SR-1, South Tucson

APN/PARCEL ID

118-25-1880

ASK ABOUT THIS PROPERTY

Allan MendelsbergCushman & Wakefield | PICORMore Info
520-490-2113

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Allan MendelsbergCushman & Wakefield | PICORMore Info
520-490-2113

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.