Western Villas 3242 E Benson Hwy 38 Unit Apartment Building $3,725,838 CAD ($98,048 CAD/Unit) 7.16% Cap Rate Tucson, AZ 85706

Western Villas is a 38-unit mixed use asset situated on two parcels, located on Benson Highway in southeast Tucson, Arizona. The property falls in an Opportunity Zone, an area designated by the State and designed to spur economic development and job creation in the area. Acquiring an asset located in an Opportunity Zone is a benefit to a future owner who may be eligible for preferential tax treatment (buyer to do all due diligence).
The property consists of 36 apartments units, two (2) owned mobile homes that currently rent for $925/month, and four (4) RV space rentals that collect $32,280 in additional income annually. The four spaces lease for $915, $675, $650 and $450, respectively. Utilities are included in the space rent on a flat rate basis, offering an upside in implementing a RUBs system for a future owner.
Recent apartment updates include two thirds of the interiors remodeled with new cabinets, countertops and flooring. Exterior renovations include new windows, new roof, main sewer line and laterals replaced, and new gas lines installed.
Western Villas is located 1 mile from the billion-dollar Mosaic Quarter project with forecasted completion of Phase 1 in 2027. The Mosaic Quarter is projected to support around 2,000 community jobs and generate $8.3 billion of new local economic impact for the State of Arizona, City of Tucson, and the Regional Transportation Authority (Source: Macquarie.com). The property benefits from its proximity to bus lines, major interstates (I-19 and I-10) and the Tucson International Airport, ensuring convenient travel options. Residents feel at home with the convenience of nearby dining, shopping, entertainment, and local parks & recreation centers. Nearby Davis-Monthan Air Force Base provides a strong tenant base, and the property has strong rental demand.
Western Villas offers a unique opportunity to capitalize on Tucson's growth and vibrant community, providing both immediate rental income and long-term value appreciation.
The seller is offering owner financing for qualified buyers. Please call agent for more information.