1435 E Benson Highway, Tucson, AZ 85714 (MLS# 22622120)

Supplements: FY2025 operations produced $140,051 in total income against $75,328 in operating expenses, generating $64,723 of net operating income with a 46.2% NOI margin. The property currently operates as an all-bills-paid community with owner-paid utilities totaling $33,846 annually (approximately 24% of gross income), presenting a straightforward opportunit ... (Read more) FY2025 operations produced $140,051 in total income against $75,328 in operating expenses, generating $64,723 of net operating income with a 46.2% NOI margin. The property currently operates as an all-bills-paid community with owner-paid utilities totaling $33,846 annually (approximately 24% of gross income), presenting a straightforward opportunity for NOI growth through RUBS conversion or utility bill-back programs. The subject property sits within a small, active corridor of 1940s-vintage Class C apartment trades along Benson Highway that have produced cap rates of 7.16%-9.10%, confirming investor demand for this product type. The location benefits from proximity to Banner-University Medical Center South and the Tucson VA Medical Center, both consistent generators of workforce rental demand. At an estimated $54,000-$58,000 per unit, the asset trades well below Tucson's average $133,503 per-unit multifamily pricing and far below new-construction replacement cost.