Kilburn Apartments presents a strong value-add opportunity with a 16-unit complex located in North-Central Tucson. The property features a desirable unit mix consisting of (4) 1BD/1BA units, (11) 2BD/1BA units, and one large 3BD/2BA unit, with current rents sitting slightly below market. Recent capital improvements have been completed in select units, and additional upside remains through further renovations. Kilburn Apartments presents investors the opportunity to continue renovations and increase rents to market rates, and enhance cash flow. Separated into two parcels, the west building (1448) offers recently upgraded units and a newer vintage build year, while the east building (1442) presents the opportunity for continued renovations. Investors can expect some interiors in the west building to feature new vinyl flooring, stainless steel appliances, modern cabinetry, and upgraded finishes throughout, providing a solid foundation with renovations already underway. The east building retains older characteristics, such as carpet in some units and dated kitchen finishes, making it well-positioned for cosmetic upgrades to meet current market standards. This mix of existing improvements and remaining value-add potential allows for a phased renovation strategy aligned with tenant turnover and budget planning. In addition, the west building (1448) features a recently coated roof and six recently replaced HVAC units, while the east building (1442) is equipped with evaporative coolers (EVAPs). These physical improvements, paired with functional community amenities, enhance the property’s appeal to both tenants and investors. The community includes tenant-facing features such as large storage units (offering potential for additional rental income), spacious fenced yards, and convenient front-door parking. Additionally, most units have washer/dryer hookups. Located just miles from I-10, Kilburn Apartments benefits from a central location with easy access to shopping and entertainment. It’s consistent tenant demand and below-market rents create immediate investment potential.