Casa Linda 4211-4219 E Lee St 12 Unit Apartment Building $1,500,000 ($125,000/Unit) 7.18% Cap Rate Tucson, AZ 85712

Casa Linda Apartments presents a value-add opportunity with a 12-unit complex located in Central Tucson. The well-maintained community offers strong potential for operational upside with long-term rental growth. Constructed with durable masonry, the property is surrounded by meticulously maintained grounds featuring a common area laundry and offers a seated courtyard.
Investors can expect interiors in both buildings to feature either tile or vinyl wood-like flooring, fully loaded kitchens with electric ovens, dishwashers, fridge/freezer combos, and cabinets with modern finishes. All units currently feature shower/tub combos with modern finishes in the bathroom, and bedrooms reflect either vinyl flooring or carpet in select units. While all units reflect a vintage style, they are very well maintained, clean, and primed for renovations. Units are cooled via air conditioning that was replaced in the last five to six years for most units. An additional amenity tenants can enjoy is front-yards, and some units have backyards. While utilities for water/sewer/trash are master-metered, tenants pay electric, providing a benefit to new ownership through the implementation of a RUBS utility bill-back program.
Split into two parcels and built with masonry construction, the community at Casa Linda Apartments includes tenant-facing features such as large private storage units for all units, offering potential for additional rental income, spacious fenced front-yards, and a convenient laundry facility. Tenant’s vehicles are also protected from the elements by the cantilevered covered parking structures at the asset. These features not only enhance tenant satisfaction but also create ancillary income opportunities and operational efficiencies that can improve overall returns for investors.
Located just miles from University of Arizona, Casa Linda Apartments benefits from a central location with easy access to shopping and entertainment. Its consistent tenant demand, historically high occupancy, and current market rents create immediate investment potential, providing investors with both stable in-place cash flow and the opportunity to capture future upside through strategic management and targeted improvements.