2432 N Balboa Ave - Apartments FOR SALE


Tucson, AZ 85705- Balboa Heights
$2,500,000 USD
602-524-0418
2432 N Balboa Ave, Tucson, AZ for Sale
$2,500,000 USD
Apartments - FOR SALE
1/16
null | 9.02% Cap Rate

2432 N Balboa Ave
Tucson, AZ 85705
Balboa Heights


OVERVIEW

Equilibrium Realty is pleased to present a heavier renovation opportunity in a strong rental location of central Tucson. The offering consists of two properties, Balboa Avenue, a vacant 15 unit (all one bed) property was built in 1948. Delano Court, a vacant 14 unit (mix of studio, one bed and two bed) property was built in 1947. Both properties are permitted for all renovations required to begin leasing operations. Estimates range from $15K to $30K per unit to complete renovations. At stabilization, value will exceed $2.5M to $3.0M. Seller is flexible to all offers.

FOR SALE DETAILS

PRICE

$2,500,000 USD

PRICE/SF

$398 USD /SF

# OF UNITS

14

PRICE/UNIT

$178,571

CAP RATE

9.02%

% LEASED

7%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Balboa Avenue and Delano Court

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1948

PARKING SPACES

22

LAND DETAILS

LAND ACRES

0.62 AC

LAND SF

27,007 SF

ZONING

R-2

APN/PARCEL ID

107-14-2290

ASK ABOUT THIS PROPERTY

Joe DietzEquilibrium RealtyMore Info
602-524-0418

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Joe DietzEquilibrium RealtyMore Info
602-524-0418

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.