Victoria Arms Apartments 1518 E Hedrick Dr 25 Unit Apartment Building $3,820,348 CAD ($152,814 CAD/Unit) 6.50% Cap Rate Tucson, AZ 85719

Victoria Arms Apartments presents a compelling value-add investment opportunity featuring attractive seller-financing, offering a seamless transition to new ownership. Ideally located just off Campbell Avenue in central Tucson, the property sits minutes north of the University of Arizona and Banner University Medical Center Tucson, positioning it within one of the city’s strongest rental corridors. Victoria Arms Apartments combines stable in-place operations with clear upside potential, making it an attractive investment opportunity in one of Tucson’s most established and supply-constrained rental submarkets.
This well-maintained 25-unit community consists entirely of twenty-five (25) 2BD/1BA units, providing an attractive and consistent unit mix. The property’s layout and design create a strong foundation for continued rent growth, while offering new ownership the opportunity to implement a strategic interior renovation program to further enhance income and overall asset value.
Interiors are clean and well cared for providing both low-maintenance appeal and long-term operational efficiency. Select units include dishwashers, and all residences offer walk-in closets, air conditioning, and private backyards—an increasingly desirable amenity in the submarket. Tenants are responsible for electricity and gas, while ownership covers water, sewer, and trash services, allowing for operational simplicity with potential future utility optimization.
The property’s exterior amenities further support tenant retention and marketability. Residents benefit from on-site laundry facilities, ample parking, a well-maintained swimming pool, and a spacious, sunlit courtyard shaded by mature trees. A partially gated entrance enhances security while maintaining an inviting community atmosphere. Professionally maintained landscaping, clean walkways, and mature palm trees contribute to strong curb appeal and overall pride of ownership.
Strategically positioned in central Tucson, Victoria Arms Apartments benefits from proximity to major demand drivers, including the University of Arizona, Banner University Medical Center, and the retail corridors along Campbell Avenue and Fort Lowell Road. With convenient access to public transportation and primary thoroughfares, residents enjoy easy connectivity to Tucson’s employment centers, shopping, dining, and recreational amenities.