Morris Apartments 5735 S Morris Blvd 8 Unit Apartment Building $1,558,491 CAD ($194,811 CAD/Unit) 7.44% Cap Rate Tucson, AZ 85706

Morris Apartments presents a turn-key investment opportunity with some additional upside potential. Well located near Tucson International Airport, Davis-Monthan Air Force Base, and major employers like Raytheon, the property is ideally positioned to attract a diverse tenant base, including professionals and families.
The property offers a desirable mix of unit types: (6) 2BD/1BA, and (2) 3BD/2BA units, catering to a variety of tenant needs. The property has had strong historical occupancy creating day one cash flow for investors and positive returns. Each unit features open layouts with durable vinyl or tile flooring throughout, offering modern and low-maintenance living spaces. Some units have been upgraded with modern finishes, including updated cabinets, fresh interior paint, ceiling fans, some units have stainless steel appliances - showcasing the potential for further property-wide enhancements. Additional amenities, such as air conditioning and private patios, enhance tenant satisfaction and retention.
The property also features an on-site laundry facility and ample parking spaces for tenants and their guests. Operational costs can be minimized through implementing a RUBS program as the owner currently covers water, sewer, and trash expenses. Additionally, individual utility meters for electricity and gas ensure efficient energy management. The individually parceled unit buildings offer flexibility for future investment strategies, such as selling the parcels individually or exploring creative residential financing options.
The property’s proximity to major employers ensures a strong tenant pool, adding to its investment appeal. With its solid foundation, strategic location, and opportunities for growth through additional renovations and optimized leasing strategies, Morris Apartments represents a compelling opportunity to capitalize on a well-maintained asset with remarkable value-add potential.