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Multifamily

Tropicana

3815 E 3rd St, Tucson, AZ 85716

Listing Price: $1,960,000

Cap Rate
5.36%
Number of Units
14
Price/Unit
$140,000
Price/Gross SF
$226.59
Gross SF
8,650

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a 14-unit multifamily opportunity in the heart of Tucson’s Miramonte neighborhood. Well located along Third Avenue and Alvernon Way, Tropicana is a quiet, single story garden-style community providing recently renovated studios, one, and two-bedroom apartment homes. With a weighted average unit size of 604 square feet, apartment interiors include well-equipped kitchens, white cabinetry with hardware, new appliances and countertops, gas stoves, and vinyl flooring. New ownership will have the opportunity to continue implementing this interior renovation program in a few remaining units. Common area amenities include a recently resurfaced pool, a gated interior courtyard with fountains, turf, a barbeque area, and lush landscaping throughout.

Investment Highlights

  • Close Proximity to Banner University Medical Center
  • Close Proximity to The University of Arizona
  • Close Proximity to El Con Mall

Exclusively Listed By

Listing Price: $1,960,000

Cap Rate
5.36%
Number of Units
14
Price/Unit
$140,000
Price/Gross SF
$226.59
Gross SF
8,650

Investment Highlights

  • Close Proximity to Banner University Medical Center
  • Close Proximity to The University of Arizona
  • Close Proximity to El Con Mall

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a 14-unit multifamily opportunity in the heart of Tucson’s Miramonte neighborhood. Well located along Third Avenue and Alvernon Way, Tropicana is a quiet, single story garden-style community providing recently renovated studios, one, and two-bedroom apartment homes. With a weighted average unit size of 604 square feet, apartment interiors include well-equipped kitchens, white cabinetry with hardware, new appliances and countertops, gas stoves, and vinyl flooring. New ownership will have the opportunity to continue implementing this interior renovation program in a few remaining units. Common area amenities include a recently resurfaced pool, a gated interior courtyard with fountains, turf, a barbeque area, and lush landscaping throughout.

Exclusively Listed By

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