Veterans Apartment 19 W Veterans Blvd Immeuble residentiel 8 lots 562 445 € (70 306 €/Lot) Taux de capitalisation 7,84 % Tucson, AZ 85713

Veterans apartments is a value-add opportunity featuring 8 apartment units. The asset has strong in-place financials and management and the building has attractive low maintenance landscaping, including mature shade trees and gravel. Ideally located across the street from the VA Hospital and a short drive to Tucson Airport and Tucson marketplace. Veterans Apartments offers a convenient location with a mix of (4) Studios, (1) Jr. 1BD/1BA, (1) 1BD/1BA, and (2) 2BD/1BA units. The property has slightly below market rents which is an investors opportunity to increase NOI and value.
Veterans Apartments, in its present condition, offers a solid foundation with recent essential upgrades, including energy-efficient dual-pane windows installed on a couple units, consistent tile flooring throughout, modern paint finishes, and modern blinds, creating inviting living spaces. Significant exterior improvements have been completed, including a new roof and updated stucco and paint. This property presents an ideal value-add opportunity for investors to realize long-term growth through continued renovations and strategic market rent adjustments. Adding to its investment appeal, each unit is equipped with its own electric meter, enabling efficient cost management and enhancing potential profitability. Currently, the owner covers water, sewer, hot water, and trash expenses, with a Resident Utility Billing System (RUBS) in place to allocate usage costs to tenants. There is an on-site laundry facility which makes laundry day convenient for the tenants. The storage sheds located on property are currently in need of improvements to the roof and interiors, but could be upgraded and rented out to tenants or vendors for additional income. The large lot also likely has development opportunities, which would drastically increase the value of the property.
Ideally located just off 6th Ave., Veterans Apartments offers convenient access to entertainment, with numerous options within walking distance, further enhancing its appeal. Nearby attractions include Tumamoc Hill, Kino Sports Complex, Tucson Botanical Gardens, and Tucson Airport, offering residents a variety of recreational and cultural experiences. With easy access to I-10 and I-19, commuting is also hassle-free. With its excellent location, recent unit upgrades, and strong value-add potential with current in-place occupancy, Veterans Apartments is an outstanding investment opportunity.