3625 E Bellevue St - Apartments FOR SALE


Tucson, AZ 85716
$825,000 USD
520-490-2113
3625 E Bellevue St, Tucson, AZ for Sale
$825,000 USD
Apartments - FOR SALE
1/15
null | 7.14% Cap Rate

3625 E Bellevue St
Tucson, AZ 85716


HIGHLIGHTS

  • Turn-key opportunity
  • Recent capital improvements
  • Storage units
  • Well located near UofA
  • Below market rents
  • In-unit laundry

OVERVIEW

Bellevue Bungalows presents a multifamily asset located centrally in Tucson, comprising 6 units, 2 Rentable garages, and 12 storage spaces. Situated just miles from the University of Arizona, and conveniently near Campbell and Speedway, Bellevue Bungalows offers an ideal investment opportunity for those seeking a fully renovated turn-key deal. The property features (5) 1BD/1BA units & (1) 2BD/1BA unit. Each unit has recently undergone extensive renovations, showcasing fully equipped kitchens with space-maximizing modern white cabinetry, new paint, refinished countertops, and contemporary wood vinyl flooring. Updates extend to the bathrooms, which feature new fixtures, appliances, and fresh paint. Tenants currently cover electric and gas utilities, while water, sewer, and trash expenses are managed by the owner and reimbursed through a RUBS system. Additionally, the property offers potential for supplementary income through onsite garages & storage spaces that can be rented by tenants or outsiders. The well-maintained community is surrounded by lush desert greenery and large palm trees, enhancing its appeal. Current amenities include, in-unit laundry, private parking, and private backyards for each unit. New owners have the opportunity to increase Net Operating Income (NOI) by renting out the available storage spaces to tenants or other users. Located just miles from Downtown Tucson, the University of Arizona, and Pima Community College, Bellevue Bungalows enjoys a prime location for central Tucson's working professionals, young adults, and freelancers. Residents benefit from easy access to expanding retail areas, offering a variety of shopping, dining, and entertainment options. This vibrant setting not only enriches residents' lifestyles but also provides numerous nearby employment opportunities.

FOR SALE DETAILS

PRICE

$825,000 USD

PRICE/SF

$243 USD /SF

# OF UNITS

6

PRICE/UNIT

$137,500

CAP RATE

7.14%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Bellevue Bungalows

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1940

PARKING SPACES

18

LAND DETAILS

LAND ACRES

0.81 AC

LAND SF

35,284 SF

ZONING

R-2, Tucson

APN/PARCEL ID

122-18-2190

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 Policy.