2514 N Geronimo Ave - Apartments FOR SALE


Tucson, AZ 85705- Keeling
$1,700,000 USD
520-490-2113
2514 N Geronimo Ave, Tucson, AZ for Sale
$1,700,000 USD
Apartments - FOR SALE
1/14
null | 6.89% Cap Rate

2514 N Geronimo Ave
Tucson, AZ 85705
Keeling


HIGHLIGHTS

  • ATTRACTIVE SELLER FINANCING
  • Value-add opportunity
  • Operational upside
  • Recently upgraded electricity & ACs
  • Below market rents
  • Cute duplex style casitas

OVERVIEW

Geronimo Casitas is a prime value-add opportunity in Central Tucson. Within miles of University of Arizona, Pima Downtown Campus, & Campbell plaza, this small community consists of cute duplex style casitas —providing residents with the feel of a private community living in a quiet, setting. With a mix of (1) Studio and (18) 1BD/1BA units, the property holds a lot of opportunity for a new investor. Attractive financing provided by the seller makes the cost of capital much cheaper than traditional financing. This allows time to do the renovations without the strain of higher interest rates and lower loan to value options in the financing market. The interiors of Geronimo Casitas offers prime renovation potential and the kind of layout that supports long-term tenant retention. Built in 1952 and constructed with durable masonry and cool, flat roofs, this community presents attractive opportunity with significant upside through interior and exterior enhancements. The casitas feature charming interiors with spacious living rooms and a separate kitchen area. Some units have upgraded finishes while others have new flooring. All units have recently received upgraded electricity and ACs, and most units have private backyards. The units are in varying levels of finishes and style, but they all have a unique charm which invites renovations to attract premium market rents With on-site coin-operated laundry and off-street parking, basic tenant needs are well-covered. The low-density layout reinforces a community feel, while the needed improvements such as fresh paint, landscaping upgrades & new fencing can amplify the property’s aesthetics and rental appeal. Geronimo Casitas is ideally located near Campbell Plaza (featuring essential retail, dining, and the World Fitness gym) and within biking distance to major demand drivers like the University of Arizona and Downtown Tucson. These amenities support consistent demand from students, professionals, and long-term tenants. The property leaves room for increases through strategic interior and exterior cap-ex investments making this a sound multi-family investment.

FOR SALE DETAILS

PRICE

$1,700,000 USD

PRICE/SF

$202 USD /SF

# OF UNITS

19

PRICE/UNIT

$89,474

CAP RATE

6.89%

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Geronimo Casitas

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1952

PARKING SPACES

24

LAND DETAILS

LAND ACRES

0.82 AC

LAND SF

35,719 SF

ZONING

R-2, Tucson

APN/PARCEL ID

107-14-0340

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 Policy.