Midway Manor Apartments 2411 S 6th Ave 18 Unit Apartment Building $1,522,477 CAD ($84,582 CAD/Unit) 7.60% Cap Rate Tucson, AZ 85713

Midway Manor is a value-add investment opportunity consisting of 18 units with operational upside. The property has recently undergone both property-wide and unit-level upgrades and is ideally located in a growing area within a one-mile radius of the VA Hospital, with convenient access to Tucson Airport and Tucson Marketplace. With its strong location, recent upgrades, current occupancy, and significant value-add potential, Midway Manor represents an outstanding investment opportunity.
The unit mix includes (11) studios, (1) 1BD/1BA, (3) 2BD/1BAs, (2) 2BD/1BAs (renovated), & (1) 3BD/1BA unit, offering a diverse layout appealing to a broad tenant base. In its current condition, Midway Manor provides a solid foundation with several recent upgrades already completed. Interior improvements include vinyl wood-like flooring, fresh paint, and modern finishes throughout the kitchens, creating comfortable and inviting living spaces. Units that have not yet been upgraded remain well-maintained and in good condition. Exterior enhancements include new building paint, a refinished parking lot, as well as dual-pane windows in select units. These improvements contribute to the property’s overall curb appeal and operational efficiency.
An on-site laundry facility provides added convenience for tenants, while the large lot offers ample parking and additional outdoor space. The property features attractive, low-maintenance landscaping with mature shade trees, gravel, and desert plants. Well-maintained walkways and shrubbery enhance the overall curb appeal, and the gated community adds an element of security for residents.
Utilities are master-metered and while Midway Manor does not have a RUBS program in place, with all utilities paid for by owner. The new ownership could implement a RUBS bill-back system, enabling recovery of utility costs from tenants and reducing overall owner expenses. This operational structure supports improved net operating income with minimal additional investment.
Ideally located just off 6th Avenue, Midway Manor offers easy access to nearby entertainment, dining, and recreational options, many within walking distance. Local attractions include Tumamoc Hill, Kino Sports Complex, and Tucson Marketplace, providing residents with a variety of cultural and recreational experiences. With quick access to I-10 and I-19, commuting throughout the Tucson metro area is convenient and efficient.