Geronimo Casitas 2514 N Geronimo Ave Immeuble residentiel 19 lots 1 476 620 € (77 717 €/Lot) Taux de capitalisation 6,89 % Tucson, AZ 85705

Geronimo Casitas is a prime value-add opportunity in Central Tucson. Within miles of University of Arizona, Pima Downtown Campus, & Campbell plaza, this small community consists of cute duplex style casitas —providing residents with the feel of a private community living in a quiet, setting. With a mix of (1) Studio and (18) 1BD/1BA units, the property holds a lot of opportunity for a new investor. Attractive financing provided by the seller makes the cost of capital much cheaper than traditional financing. This allows time to do the renovations without the strain of higher interest rates and lower loan to value options in the financing market.
The interiors of Geronimo Casitas offers prime renovation potential and the kind of layout that supports long-term tenant retention. Built in 1952 and constructed with durable masonry and cool, flat roofs, this community presents attractive opportunity with significant upside through interior and exterior enhancements. The casitas feature charming interiors with spacious living rooms and a separate kitchen area. Some units have upgraded finishes while others have new flooring. All units have recently received upgraded electricity and ACs, and most units have private backyards. The units are in varying levels of finishes and style, but they all have a unique charm which invites renovations to attract premium market rents
With on-site coin-operated laundry and off-street parking, basic tenant needs are well-covered. The low-density layout reinforces a community feel, while the needed improvements such as fresh paint, landscaping upgrades & new fencing can amplify the property’s aesthetics and rental appeal.
Geronimo Casitas is ideally located near Campbell Plaza (featuring essential retail, dining, and the World Fitness gym) and within biking distance to major demand drivers like the University of Arizona and Downtown Tucson. These amenities support consistent demand from students, professionals, and long-term tenants. The property leaves room for increases through strategic interior and exterior cap-ex investments making this a sound multi-family investment.