2524 E Lester St 2 Unit Apartment Building $499,000 ($249,500/Unit) 8.41% Cap Rate Tucson, AZ 85716

Stratford Residence at 2524 E Lester Street delivers a unique investment opportunity in Tucson’s coveted Blenman-Elm neighborhood. This centrally located property offers an already updated residential structure paired with a detached container-style unit, presenting built-in value-add potential for income growth. Modern interiors feature clean finishes, stainless appliances, updated kitchens and baths, and efficient mini-split HVAC systems. Offering is turnkey for traditional leasing yet fully optimized for conversion to furnished or short-term rental models where legally permissible.
The property benefits from immediate proximity to the University of Arizona and Banner-University Medical Center, two anchor institutions that generate consistent tenant demand for both mid-term and transitional accommodations. Its setting within a walkable bike-friendly district grants tenants easy access to neighborhood dining, coffee shops, and retail corridors along Campbell Avenue and Speedway Boulevard. Quick connections to Downtown Tucson, central business nodes, and major arterials enhance both convenience and occupancy stability.
Completion of the separate 320 SF accessory unit provides further upside, giving a future owner the option to increase rentable area and income performance subject to compliance. Furnishings are included, reducing setup time for launching revenue streams immediately upon acquisition. Offered at $575,000 with clear growth levers in place, this property represents a flexible solution for multi-strategy investors seeking to participate in Tucson’s vibrant urban rental market.