3035-3053 N Los Altos Ave - Apartments FOR SALE


Tucson, AZ 85705- Keeling
$1,250,000 USD
520-490-2113
3035-3053 N Los Altos Ave, Tucson, AZ for Sale
$1,250,000 USD
Apartments - FOR SALE
1/12
null | 7.05% Cap Rate

3035-3053 N Los Altos Ave
Tucson, AZ 85705
Keeling


HIGHLIGHTS

  • Turn-key Opportunity w/ slightly below market rents
  • Recently renovated units
  • Private-backyards
  • Mini-splits AC units
  • Storage room & structure, could be converted to additional unit
  • Historically high occupancy

OVERVIEW

Coronado Heights offers an opportunity for investors seeking a well-located multifamily asset with value-add potential. Located in North central Tucson, this 10-unit property offers a strategic mix of classic & fully renovated units, providing immediate income and significant value-add opportunities. Featuring a well-balanced unit mix of (9) 2BD/1BA units and (1 )spacious 3BD/1.5BA, Coronado Heights has already seen recent renovations for some units, including new mini-split AC units, modern vinyl flooring, interior upgrades and modern finishes throughout. These improvements allow for immediate rent premiums and present an exciting opportunity for further enhancements by increasing rents. Beyond its modern interiors, Coronado Heights has a well-maintained community landscape with maintained walkways and large shade trees. Each unit features private backyards, enhancing the overall living environment for residents and guests over. Some units have washer/dryer hookups in their backyards. New ownership can unlock Coronado Heights' full potential by completing renovations on all units. This approach not only elevates the living experience but also justifies rent increases. Additionally, converting on-site storage into a studio unit offers an opportunity for additional rental income and increased NOI. Increasing the RUBS program further streamlines management and reduces utility costs for investors. Strategically located near Downtown Tucson, the University of Arizona, and Pima Community College, Coronado Heights caters to a diverse tenant base. Residents enjoy easy access to a vibrant retail scene, offering a variety of shopping, dining, and entertainment options. The proximity to growing businesses also provides convenient employment opportunities, enhancing the community's appeal. Making Coronado heights is the perfect location for tenants who are entering the work-force or continuing education.

FOR SALE DETAILS

PRICE

$1,250,000 USD

PRICE/SF

$199 USD /SF

# OF UNITS

10

PRICE/UNIT

$125,000

CAP RATE

7.05%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Coronado Heights

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1948

PARKING SPACES

16

LAND DETAILS

LAND ACRES

0.83 AC

LAND SF

36,155 SF

ZONING

R-2

APN/PARCEL ID

107-11-2760

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 Notice.