309-311 W Elm St - Apartments FOR SALE


Tucson, AZ 85705- Feldman's
$1,650,000 USD
520-490-2113
309-311 W Elm St, Tucson, AZ for Sale
$1,650,000 USD
Apartments - FOR SALE
1/17
null | 6.58% Cap Rate

309-311 W Elm St
Tucson, AZ 85705
Feldman's


HIGHLIGHTS

  • ATTRACTIVE SELLER FINANCING
  • Turn-key building with operational upside
  • Recent improvements include paint, parking lot, appliances, & AC replacements
  • Large 4BD/2BA layouts
  • Individually metered for electric & water usage
  • Ideally located near UofA, Pima Community College, and Downtown Tucson

OVERVIEW

Elm St. Villas presents an opportunity for investors seeking a well-maintained, turn-key multifamily asset with ATTRACTIVE SELLER FINANCING and additional operational upside. Within ~3 miles of the UofA, Elm St. Villas provides investors with a strong foundation for immediate cash flow while offering opportunities to further enhance operations and maximize long-term value. The property features (8) spacious 4BD/2BA floor plans designed to accommodate a wide range of residents. Each unit includes private laundry and storage, dishwashers, air conditioning, and generous living spaces that provide a comfortable and functional living environment. These desirable floor plans, combined with modern amenities and thoughtful updates, position the property to remain highly competitive within the surrounding rental market. Beyond the interiors, with a build year of 2006, the property has recently undergone several capital improvements, including exterior paint, parking lot enhancements, appliance upgrades, and air conditioning replacements, minimizing near-term capital expenditures for new ownership. Additionally, Elm St. Villas offers ample on-site parking and a well-maintained community setting that contributes to long-term resident satisfaction and retention. The water, sewer, & electric utilities are individually metered and paid directly by residents, helping reduce ownership's utility expenses. With its desirable location, recent property improvements, and turn-key condition, Residents enjoy convenient access to Downtown Tucson, the University of Arizona, and Pima Community College, placing shopping, dining, entertainment, and major employment centers just minutes away. This prime location continues to attract a diverse tenant base, making Elm St. Villas a compelling investment opportunity in one of Tucson's most established rental corridors.

FOR SALE DETAILS

PRICE

$1,650,000 USD

PRICE/SF

$153 USD /SF

# OF UNITS

8

PRICE/UNIT

$206,250

CAP RATE

6.58%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Elm

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2006

PARKING SPACES

24

LAND DETAILS

LAND ACRES

0.79 AC

LAND SF

34,412 SF

ZONING

C-1, Tucson

APN/PARCEL ID

115-07-094G,115-07-094H

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.