4302 E Bellevue St - Apartments FOR SALE


Tucson, AZ 85712- Midtown Tucson
$2,650,000 USD
520-490-2113
4302 E Bellevue St, Tucson, AZ for Sale
$2,650,000 USD
Apartments - FOR SALE
1/35
null | 7.06% Cap Rate

4302 E Bellevue St
Tucson, AZ 85712
Midtown Tucson


HIGHLIGHTS

  • Value add opportunity
  • Operational upside w/ below market rents
  • Recent capital improvements within last 5 years
  • Mini-Split air conditioning
  • Dual pane windows
  • Gated and secured asset

OVERVIEW

Bellevue Manor Apartments offers investors the opportunity to acquire a well-located multifamily asset with compelling value-add potential in Central Tucson. The 27-unit community combines below-market in-place rents, select renovated units, recent capital improvements, and multiple avenues for continued income growth. Bellevue Manor features a mix of classic and upgraded apartments, allowing new ownership to benefit from existing rental income while continuing the property's renovation program. Select units have received interior improvements, while some apartments are offered furnished, providing flexibility to serve a broader tenant base and potentially capture additional rental premiums. Each unit is equipped with air conditioning and dual-pane windows, and the property is individually metered for electricity, helping reduce owner-paid utility expenses. Recent capital improvements include air-conditioning upgrades, roof work, exterior painting, parking lot improvements, and upgrades to the property's common areas. These improvements enhance the overall resident experience while reducing anticipated near-term capital requirements for new ownership. The fenced and gated community offers ample tenant parking and an on-site common-area laundry facility, providing residents with convenience while creating an additional source of ancillary income. New ownership has the opportunity to further enhance property performance by renovating the remaining classic units, increasing rents toward market levels, and optimizing furnished-unit and laundry income. Strategically located in Central Tucson, Bellevue Manor provides convenient access to major employment centers, healthcare facilities, education, shopping, dining, and transportation corridors. Its proximity to Tucson Medical Center, the University of Arizona, and other nearby employment and educational destinations supports demand from a diverse tenant base. Through the continued renovation of select units, the capture of below-market rent upside, and operational enhancements, Bellevue Manor presents investors with an attractive opportunity to increase cash flow and long-term value in an established Tucson multifamily location.

FOR SALE DETAILS

PRICE

$2,650,000 USD

PRICE/SF

$185 USD /SF

# OF UNITS

27

PRICE/UNIT

$98,148

CAP RATE

7.06%

% LEASED

90%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Bellevue Manor

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1962

PARKING SPACES

30

LAND DETAILS

LAND ACRES

0.83 AC

LAND SF

35,981 SF

ZONING

R-3, Tucson

APN/PARCEL ID

122-12-0450

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.