33rd Studios 120 E 33rd St 10 Unit Apartment Building $625,000 ($62,500/Unit) 7.20% Cap Rate Tucson, AZ 85713

33rd Studios, located in South Tucson, presents a compelling opportunity for investors to capitalize on the rapid growth along the I-10 and Kino Parkway corridors. The property consists of ten (10) studio apartments and offers a true turn-key investment with historically high occupancy.
The units were extensively renovated in 2020 and feature tile flooring, updated countertops, modern appliances, remodeled bathrooms, and fresh paint throughout. Property amenities include a paved parking lot, secure entry doors, maintained landscaping, and individual air conditioning units for each studio. Enhancing both tenant comfort and retention.
All units are master-metered for water, sewer, trash, gas, and electricity. Utilities are paid for by the landlord and billed back to tenants through a RUBS program, resulting in a low-expense operating structure and predictable cash flow for ownership.
The primary upside lies in the opportunity to increase rents to current market levels. Additional value can be unlocked through targeted exterior and common-area improvements, which have the potential to significantly enhance both operating income and overall property value. The surrounding area is supported by several large employers, providing a stable and consistent tenant base that supports long-term rental demand.
Strategically positioned in South Tucson, 33rd Studios offers convenient access to Tucson Marketplace, Kino Sports Complex, and the recently announced Mosaic Quarters development. The property appeals to a diverse tenant base seeking proximity to employment centers, retail, dining, and entertainment. Its location near emerging commercial corridors further strengthens long-term investment potential, making 33rd Studios an attractive opportunity for investors seeking stable returns with meaningful growth upside.