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Ocotillo Apartments 1025 E Benson Hwy 136 Unit Apartment Building $8,024,000 ($59,000/Unit) 10% Cap Rate Tucson, AZ 85713
Investment Highlights
- Immediate accessibility to Interstate 10 with connectivity to downtown Tucson and Tucson International Airport.
- Situated in a high-demand rental market benefitting from population and economic growth trends.
- 136-unit multifamily community with significant value-add potential through ongoing renovations.
- Existing landscaping provides aesthetic appeal and favorable outdoor space, elevating community livability.
Executive Summary
Ocotillo Apartments offers a compelling value-add opportunity in Tucson’s dynamic rental market. Encompassing 136 units across 70,665 rentable square feet, the property is located within a federally designated Opportunity Zone, presenting significant tax advantages for investors pursuing long-term capital improvements. The community is easily accessible via I-10 and benefits from close proximity to Tucson International Airport, the thriving employment corridors of Downtown Tucson, and the University of Arizona district. This asset provides immediate upside through an unfinished renovation program, allowing a new owner to capitalize on interior and exterior upgrades that meet current market standards.
Property Facts
| Price | $8,024,000 | Building Class | C |
| Price Per Unit | $59,000 | Lot Size | 5.64 AC |
| Sale Type | Investment | Building Size | 70,665 SF |
| Cap Rate | 10% | No. Stories | 2 |
| No. Units | 136 | Year Built | 1968 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment |
| Price | $8,024,000 |
| Price Per Unit | $59,000 |
| Sale Type | Investment |
| Cap Rate | 10% |
| No. Units | 136 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 5.64 AC |
| Building Size | 70,665 SF |
| No. Stories | 2 |
| Year Built | 1968 |
| Opportunity Zone |
Yes |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 136 | - | 520 |
1 1
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 132-13-0490 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $442,426 |
Property Taxes
Parcel Number
132-13-0490
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$442,426
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Contact the Sale Advisor
Ocotillo Apartments | 1025 E Benson Hwy