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3218 E Benson Hwy, Tucson, AZ 85706

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For Sale

$2,695,000

12,050 sqft

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Multi-Family (2-4 Units)
    Property type

  • $223.65
    Price per square foot

  • Over 50 Years Old
    Age

Explore this Property

Western Villas is a 38-unit mixed use asset situated on two parcels, located on Benson Highway in southeast Tucson, Arizona. The property falls in an Opportunity Zone, an area designated by the State and designed to spur economic development and job creation in the area. Acquiring an asset located in an Opportunity Zone is a benefit to a future owner who may be eligible for preferential tax treatment (buyer to do all due diligence). The property consists of 36 apartments units, two (2) owned mobile homes that currently rent for $925/month, and four (4) RV space rentals that collect $32,280 in additional income annually. The four spaces lease for $915, $675, $650 and $450, respectively. Utilities are included in the space rent on a flat rate basis, offering an upside in implementing a RUBs system for a future owner. Recent apartment updates include two thirds of the interiors remodeled with new cabinets, countertops and flooring. Exterior renovations include new windows, new roof, main sewer line and laterals replaced, and new gas lines installed. Western Villas is located 1 mile from the billion-dollar Mosaic Quarter project with forecasted completion of Phase 1 in 2027. The Mosaic Quarter is projected to support around 2,000 community jobs and generate $8.3 billion of new local economic impact for the State of Arizona, City of Tucson, and the Regional Transportation Authority (Source: Macquarie). The property benefits from its proximity to bus lines, major interstates (I-19 and I-10) and the Tucson International Airport, ensuring convenient travel options. Residents feel at home with the convenience of nearby dining, shopping, entertainment, and local parks & recreation centers. Nearby Davis-Monthan Air Force Base provides a strong tenant base, and the property has strong rental demand. Western Villas offers a unique opportunity to capitalize on Tucson's growth and vibrant community, providing both immediate rental income and long-term value appreciation. The seller is offering owner financing for qualified buyers. Please call agent for more information.
MLS# 11492043

Courtesy Of Joseph Bernard Investment Real Estate

(480) 305-5600

Property Features

  • Age
    Over 50 Years Old
  • Architecture Style
    Other
  • Lot Size
    2.18 Acres

Map and Directions

Directions to 3218 E Benson Hwy, Tucson, AZ 85706

Home seller CENTURY 21 Success Realty

Get to know the neighborhood. A local affiliated CENTURY 21 office will help you set up tours, give advice, and negotiate with sellers.

CENTURY 21 Success Realty

(520) 287-3000
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† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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