Mission Apartments 8908-8936 S Nogales Hwy 14 Unit Apartment Building $1,990,981 CAD ($142,213 CAD/Unit) 7.49% Cap Rate Tucson, AZ 85756

Mission Apartments, located just off S. Nogales Highway, presents a compelling value-add investment opportunity with operational upside and strong long-term rental growth potential. The property features 14 spacious 2BD/1BA units, with select units offering private backyards, providing a solid foundation for strategic improvements and future rent increases. The asset is well-positioned to benefit from continued growth in the surrounding area, supported by expanding employment opportunities and nearby educational institutions. Additionally, the property is conveniently located near major retail and entertainment destinations, including Tucson Spectrum and Desert Diamond Casino.
Constructed with durable masonry, the property offers strong structural integrity and an excellent foundation for a comprehensive renovation program. Featuring 2BD/1BA units, Mission Apartments has select units with recent upgrades. The units with upgrades can include - stainless steel appliances, fresh paint, and modern gray vinyl flooring, the majority remain in classic condition with older cabinetry, mismatched appliances, and dated flooring—providing clear potential for interior renovations and rental upside. Units are cooled via new air conditioners, with electric and gas utilities individually metered and paid by tenants, while the owner currently covers water, septic, and trash expenses. The exterior includes well-maintained walkways, mature shade trees, shared laundry facilities, and ample open parking for residents. With strategic improvements to the interiors, exteriors, and common areas, new ownership has the opportunity to enhance the property’s appeal and achieve rents that better reflect current market conditions
Mission Apartments growth opportunity is reflected in the surrounding areas by being comfortably located between Raytheon, Tucson International Airport, and Air National Guard. All while being within miles of the local community college and minutes away from the freeway which comfortably allows commuting to be less than 20 minutes to central Tucson. Surrounding areas make Mission Apartments ideal for families or young professionals looking to live in a quite community.