Bellevue Manor 4302 E Bellevue St 27 Unit Apartment Building $3,697,545 CAD ($136,946 CAD/Unit) 7.06% Cap Rate Tucson, AZ 85712

Bellevue Manor Apartments offers investors the opportunity to acquire a well-located multifamily asset with compelling value-add potential in Central Tucson. The 27-unit community combines below-market in-place rents, select renovated units, recent capital improvements, and multiple avenues for continued income growth.
Bellevue Manor features a mix of classic and upgraded apartments, allowing new ownership to benefit from existing rental income while continuing the property's renovation program. Select units have received interior improvements, while some apartments are offered furnished, providing flexibility to serve a broader tenant base and potentially capture additional rental premiums. Each unit is equipped with air conditioning and dual-pane windows, and the property is individually metered for electricity, helping reduce owner-paid utility expenses.
Recent capital improvements include air-conditioning upgrades, roof work, exterior painting, parking lot improvements, and upgrades to the property's common areas. These improvements enhance the overall resident experience while reducing anticipated near-term capital requirements for new ownership.
The fenced and gated community offers ample tenant parking and an on-site common-area laundry facility, providing residents with convenience while creating an additional source of ancillary income. New ownership has the opportunity to further enhance property performance by renovating the remaining classic units, increasing rents toward market levels, and optimizing furnished-unit and laundry income.
Strategically located in Central Tucson, Bellevue Manor provides convenient access to major employment centers, healthcare facilities, education, shopping, dining, and transportation corridors. Its proximity to Tucson Medical Center, the University of Arizona, and other nearby employment and educational destinations supports demand from a diverse tenant base.
Through the continued renovation of select units, the capture of below-market rent upside, and operational enhancements, Bellevue Manor presents investors with an attractive opportunity to increase cash flow and long-term value in an established Tucson multifamily location.