4211-4219 E Lee St - Apartments FOR SALE


Tucson, AZ 85712- Midtown Tucson
$1,500,000 USD
520-490-2113
4211-4219 E Lee St, Tucson, AZ for Sale
$1,500,000 USD
Apartments - FOR SALE
1/16
null | 7.18% Cap Rate

4211-4219 E Lee St
Tucson, AZ 85712
Midtown Tucson


HIGHLIGHTS

  • Value-add opportunity
  • Assigned covered parking
  • Common area laundry
  • Rental upside through renovations
  • Air conditioning
  • Large 2BD/1BA units

OVERVIEW

Casa Linda Apartments presents a value-add opportunity with a 12-unit complex located in Central Tucson. The well-maintained community offers strong potential for operational upside with long-term rental growth. Constructed with durable masonry, the property is surrounded by meticulously maintained grounds featuring a common area laundry and offers a seated courtyard. Investors can expect interiors in both buildings to feature either tile or vinyl wood-like flooring, fully loaded kitchens with electric ovens, dishwashers, fridge/freezer combos, and cabinets with modern finishes. All units currently feature shower/tub combos with modern finishes in the bathroom, and bedrooms reflect either vinyl flooring or carpet in select units. While all units reflect a vintage style, they are very well maintained, clean, and primed for renovations. Units are cooled via air conditioning that was replaced in the last five to six years for most units. An additional amenity tenants can enjoy is front-yards, and some units have backyards. While utilities for water/sewer/trash are master-metered, tenants pay electric, providing a benefit to new ownership through the implementation of a RUBS utility bill-back program. Split into two parcels and built with masonry construction, the community at Casa Linda Apartments includes tenant-facing features such as large private storage units for all units, offering potential for additional rental income, spacious fenced front-yards, and a convenient laundry facility. Tenant’s vehicles are also protected from the elements by the cantilevered covered parking structures at the asset. These features not only enhance tenant satisfaction but also create ancillary income opportunities and operational efficiencies that can improve overall returns for investors. Located just miles from University of Arizona, Casa Linda Apartments benefits from a central location with easy access to shopping and entertainment. Its consistent tenant demand, historically high occupancy, and current market rents create immediate investment potential, providing investors with both stable in-place cash flow and the opportunity to capture future upside through strategic management and targeted improvements.

FOR SALE DETAILS

PRICE

$1,500,000 USD

PRICE/SF

$149 USD /SF

# OF UNITS

12

PRICE/UNIT

$125,000

CAP RATE

7.18%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Casa Linda

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1979

PARKING SPACES

16

LAND DETAILS

LAND ACRES

0.8 AC

LAND SF

34,848 SF

ZONING

R-2

APN/PARCEL ID

122-13-261A,122-13-261B

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.