1414 N 1st Ave - Multi-Family 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
Multi-Family - FOR SALE
1/11
null | Request Cap Rate

1414 N 1st Ave
Tucson, AZ 85719
North University


HIGHLIGHTS

  • 17-Bed / 9-Bath Shared Student Housing Property
  • Located Approximately 1 Mile from the University of Arizona
  • Master Lease in Place Through July 2027
  • Originally Built 1948 | Substantially Rebuilt & Repurposed in 2012
  • Significant Capital Improvements Completed in 2019
  • Outdoor Amenities Including Cocktail Pool & Shaded Common Areas

OVERVIEW

Steel Village is a 17-bed, 9-bath student housing property located in central Tucson, approximately one mile from the University of Arizona. The property is operated under a master lease structure and benefits from in-place lease coverage through July 2027, providing near-term income certainty. Originally constructed in 1948, the property was substantially rebuilt and repurposed in 2012, including new electrical, plumbing, and interior systems. In 2019, the current owner completed additional upgrades, including a cocktail pool, outdoor common areas, an updated kitchen and finishes, and in-house laundry. Steel Village has demonstrated consistent tenant demand historically and is currently leased under a master lease to a student group. While not traditional multifamily, the asset offers a compelling opportunity for an investor seeking stable cash flow, simplified operations, and long-term capital preservation in a supply-constrained student housing submarket. The property is offered all cash or new loan. 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

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Steel Village

PROPERTY TYPE

Multi-Family

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

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Desiree PalmerABI MultifamilyMore Info
773-886-6010

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