2524 E Lester St - Apartments FOR SALE


Tucson, AZ 85716- Blenman-Elm
$499,000 USD
520-269-1968
2524 E Lester St, Tucson, AZ for Sale
$499,000 USD
Apartments - FOR SALE
1/15
null | 8.41% Cap Rate

2524 E Lester St
Tucson, AZ 85716
Blenman-Elm


HIGHLIGHTS

  • Located in the desirable Blenman-Elm neighborhood near University of Arizona and Banner-University Medical Center
  • Offers flexible operational strategies: traditional leasing, mid-term corporate housing, or short-term rentals where permitted
  • Interior upgrades include modern finishes, stainless steel appliances, updated bath, and mini-split HVAC
  • Furnished and set up for immediate occupancy or STR deployment, reducing time-to-market
  • Includes a separate 320 SF container-style unit with completed utility work awaiting interior build-out for added income potential
  • Private, low-maintenance yard within a central infill location connected to major city corridors and amenities

OVERVIEW

Stratford Residence at 2524 E Lester Street delivers a unique investment opportunity in Tucson’s coveted Blenman-Elm neighborhood. This centrally located property offers an already updated residential structure paired with a detached container-style unit, presenting built-in value-add potential for income growth. Modern interiors feature clean finishes, stainless appliances, updated kitchens and baths, and efficient mini-split HVAC systems. Offering is turnkey for traditional leasing yet fully optimized for conversion to furnished or short-term rental models where legally permissible. The property benefits from immediate proximity to the University of Arizona and Banner-University Medical Center, two anchor institutions that generate consistent tenant demand for both mid-term and transitional accommodations. Its setting within a walkable bike-friendly district grants tenants easy access to neighborhood dining, coffee shops, and retail corridors along Campbell Avenue and Speedway Boulevard. Quick connections to Downtown Tucson, central business nodes, and major arterials enhance both convenience and occupancy stability. Completion of the separate 320 SF accessory unit provides further upside, giving a future owner the option to increase rentable area and income performance subject to compliance. Furnishings are included, reducing setup time for launching revenue streams immediately upon acquisition. Offered at $575,000 with clear growth levers in place, this property represents a flexible solution for multi-strategy investors seeking to participate in Tucson’s vibrant urban rental market.

FOR SALE DETAILS

PRICE

$499,000 USD

PRICE/SF

$396 USD /SF

# OF UNITS

2

PRICE/UNIT

$249,500

CAP RATE

8.41%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2025

PARKING SPACES

2

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,534 SF

ZONING

R2

APN/PARCEL ID

123-02-248B

ASK ABOUT THIS PROPERTY

Scott HotchkissColdwell Banker CommercialMore Info
520-269-1968

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Scott HotchkissColdwell Banker CommercialMore Info
520-269-1968

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