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Steel Village 1414 N 1st Ave 1 Unit Apartment Building $2,251,200 CAD ($2,251,200 CAD/Unit) 6.73% Cap Rate Tucson, AZ 85719
Investment Highlights
- 17-Bedroom / 9-Bath Shared Student Housing Property Operated Under a Master Lease
- Potential to Deliver Tenant-Free for Owner-User or Repositioning Strategy
- Consistent Historical Demand from Student Groups
- In-Place Lease Through July 2027 Providing Near-Term Income Stability
- Located Approximately One Mile from the University of Arizona
- Outdoor Amenities Including Cocktail Pool & Shaded Common Areas
Executive Summary
Steel Village is a 17-bedroom / 9-bathroom group housing property located approximately one mile from the University of Arizona, historically used for full-building occupancy by organized student groups, including fraternity housing. The property is configured to support large-group living and similar use going forward.
The property is currently leased at $13,175/month under a full-building lease through July 2027, providing near-term income stability and simplified operations. 2026 income reflects a blend of prior and current lease terms.
Originally constructed in 1948, the property was substantially rebuilt and repurposed in 2012, including updates to electrical, plumbing, mechanical systems, and interior finishes. In 2019, the owner completed significant capital improvements, including a renovated kitchen with a large island, updated flooring, and enhanced outdoor common areas with a pool and gathering spaces. On-site laundry is included.
The layout includes multiple common areas and shared amenities designed to accommodate full-building occupancy and large-group living.
Due to zoning and location, opportunities to acquire group housing of this scale in close proximity to the University of Arizona are limited.
The property is offered all cash or with new financing.
Detailed financials, lease documents, and supporting materials are available in the document vault:
https://www.abimultifamily.com/?a=07FF55BCB52A145573&/steel-village-student-housing
The property is currently leased at $13,175/month under a full-building lease through July 2027, providing near-term income stability and simplified operations. 2026 income reflects a blend of prior and current lease terms.
Originally constructed in 1948, the property was substantially rebuilt and repurposed in 2012, including updates to electrical, plumbing, mechanical systems, and interior finishes. In 2019, the owner completed significant capital improvements, including a renovated kitchen with a large island, updated flooring, and enhanced outdoor common areas with a pool and gathering spaces. On-site laundry is included.
The layout includes multiple common areas and shared amenities designed to accommodate full-building occupancy and large-group living.
Due to zoning and location, opportunities to acquire group housing of this scale in close proximity to the University of Arizona are limited.
The property is offered all cash or with new financing.
Detailed financials, lease documents, and supporting materials are available in the document vault:
https://www.abimultifamily.com/?a=07FF55BCB52A145573&/steel-village-student-housing
Financial Summary (Pro Forma - 2026) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$222,447
|
$13.54
|
| Other Income |
$8,132
|
$0.50
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$230,579
|
$14.04
|
| Taxes |
$8,858
|
$0.54
|
| Operating Expenses |
$70,250
|
$4.28
|
| Total Expenses |
$79,109
|
$4.82
|
| Net Operating Income |
$151,471
|
$9.22
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $222,447 |
| Annual Per SF | $13.54 |
| Other Income (CAD) | |
|---|---|
| Annual | $8,132 |
| Annual Per SF | $0.50 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $230,579 |
| Annual Per SF | $14.04 |
| Taxes (CAD) | |
|---|---|
| Annual | $8,858 |
| Annual Per SF | $0.54 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $70,250 |
| Annual Per SF | $4.28 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $79,109 |
| Annual Per SF | $4.82 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $151,471 |
| Annual Per SF | $9.22 |
Property Facts
| Price | $2,251,200 CAD | Building Class | C |
| Price Per Unit | $2,251,200 CAD | Lot Size | 0.49 AC |
| Sale Type | Investment | Building Size | 16,423 SF |
| Cap Rate | 6.73% | Average Occupancy | 100% |
| No. Units | 1 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1948/2012 |
| Property Subtype | Apartment | Parking Ratio | 1.8/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | C1 | ||
| Price | $2,251,200 CAD |
| Price Per Unit | $2,251,200 CAD |
| Sale Type | Investment |
| Cap Rate | 6.73% |
| No. Units | 1 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.49 AC |
| Building Size | 16,423 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1948/2012 |
| Parking Ratio | 1.8/1,000 SF |
| Zoning | C1 |
Amenities
Unit Amenities
- Air Conditioning
- Kitchen
- Refrigerator
- Oven
- Stainless Steel Appliances
- Tub/Shower
Site Amenities
- 24 Hour Access
- Courtyard
- Laundry Facilities
- Pool
1 1
Moderately walkable
60/100
Moderately drivable
70/100
Some public transit
50/100
Moderately bikeable
70/100
Property Taxes
| Parcel Numbers | Total Assessment | $112,101 CAD | |
| Land Assessment | $0 CAD | Annual Taxes | $8,858 CAD ($0.54 CAD/SF) |
| Improvements Assessment | $0 CAD | Tax Year | 2026 |
Property Taxes
Parcel Numbers
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$112,101 CAD
Annual Taxes
$8,858 CAD ($0.54 CAD/SF)
Tax Year
2026
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Steel Village | 1414 N 1st Ave
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