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Victoria McGullam Anderson

victoria@movewithv.com +1(520) 234-1215

Listed by ABI Multifamily, LLC • Desiree Juul Palmer

$3,995,000

Est. payment - /mo

31,884 SqFt

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UPDATED:

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

Square Footage 31,884 sqft

Price per Sqft $125

MLS Listing ID 22622395

Year Built 1988

Annual Tax Amount $23,731

Tax Year 2025

Lot Size 1.508 Acres

Acres 1.5

Lot Dimensions 215 X 200 X 265 X 250

Source MLS of Southern Arizona

Property Description

Drexel Plaza is a 58-unit multifamily community located at 5770 S. Jeanette Boulevard in Tucson. Built in 1988, the property consists of two three-story buildings and one two-story building situated on approximately 1.51 acres. The unit mix includes 42 one-bedroom/one-bath units, 15 two-bedroom/one-bath units and one studio. Community amenities include a swimming pool and on-site laundry facility. Units are individually metered for electricity. Current ownership has invested more than $110,000 in capital improvements, including HVAC replacements, landscaping, pool improvements and roof recoating. Drexel Plaza is currently 96.6% occupied and offers additional upside through interior renovations and continued rent growth. In-place rents average approximately $680 per occupied unit, compared with pro forma rents averaging approximately $845 per unit. Recent two-bedroom leases have been signed at rents as high as $885. The property is located near Drexel Road and Park Avenue with convenient access to I-10 and I-19, Tucson Spectrum, Tucson International Airport and the RTX/Raytheon campus. The location provides access to major employment, retail and transportation corridors throughout south Tucson.

Location

State AZ

County Pima

Area South

Zoning Tucson - C1

Direction S On Park Fr Irvington E On Drexel To Jeanette To Address

Interior

Cooling Central Air, Wall Unit(s)

Exterior

Utilities Available Sewer Connected

View Y/N No

Water Access Desc Public

Others

Tax ID 14025011B

Acceptable Financing 1031 Exchange, Conventional, Cash

Listing Terms 1031 Exchange, Conventional, Cash

Special Listing Condition None

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Victoria McGullam Anderson

+1(520) 234-1215

Broker Associate BRBR647714000

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Homes For Sale in Tucson, AZ

5770 S Jeanette Blvd Tucson, AZ 85706

Victoria McGullam Anderson

Key Details

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Interior

Exterior

Others

Nearby School & Business

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