1414 N 1st Ave - Apartments FOR SALE


Tucson, AZ 85719- North University
$1,600,000 USD
773-886-6010
1414 N 1st Ave, Tucson, AZ for Sale
$1,600,000 USD
Apartments - FOR SALE
1/12
null | Request Cap Rate

1414 N 1st Ave
Tucson, AZ 85719
North University


HIGHLIGHTS

  • 17-Bedroom / 9-Bath Shared Student Housing Property Operated Under a Master Lease
  • In-Place Lease Through July 2027 Providing Near-Term Income Stability
  • Potential to Deliver Tenant-Free for Owner-User or Repositioning Strategy
  • Located Approximately One Mile from the University of Arizona
  • Consistent Historical Demand from Student Groups
  • Outdoor Amenities Including Cocktail Pool & Shaded Common Areas

OVERVIEW

Steel Village is a 17-bedroom / 9-bathroom group housing property located approximately one mile from the University of Arizona, historically used for full-building occupancy by organized student groups, including fraternity housing. The property is configured to support large-group living and similar use going forward. The property is currently leased at $13,175/month under a full-building lease through July 2027, providing near-term income stability and simplified operations. 2026 income reflects a blend of prior and current lease terms. Originally constructed in 1948, the property was substantially rebuilt and repurposed in 2012, including updates to electrical, plumbing, mechanical systems, and interior finishes. In 2019, the owner completed significant capital improvements, including a renovated kitchen with a large island, updated flooring, and enhanced outdoor common areas with a pool and gathering spaces. On-site laundry is included. The layout includes multiple common areas and shared amenities designed to accommodate full-building occupancy and large-group living. Due to zoning and location, opportunities to acquire group housing of this scale in close proximity to the University of Arizona are limited. The property is offered all cash or with new financing. Detailed financials, lease documents, and supporting materials are available in the document vault: https://www.abimultifamily.com/?a=07FF55BCB52A145573&/steel-village-student-housing

FOR SALE DETAILS

PRICE

$1,600,000 USD

PRICE/SF

$320 USD /SF

# OF UNITS

1

PRICE/UNIT

$1,600,000

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Steel Village

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1948

PARKING SPACES

9

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,276 SF

ZONING

C1

APN/PARCEL ID

123-15-1110

ASK ABOUT THIS PROPERTY

Desiree PalmerABI MultifamilyMore Info
773-886-6010

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

Desiree PalmerABI MultifamilyMore Info
773-886-6010

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