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34354394
34354395

2524 E Lester St., New Tucson, AZ 85716

SH
AZ SA684469000
Metro Phoenix Commercial Team with Coldwell Banker Commercial Realty
Listed by Metro Phoenix Commercial Team with Coldwell Banker Commercial Realty
$575,000
1 day on market
Updated 0 days ago

Value-Add Furnished Rental Asset Near UA & Banner | 320 SF Casita/ADU Upside

Details
Property Type Multifamily
Sub Type Apartment Building, Duplex/Triplex/Quadruplex
Units 2
Pro-Forma Cap Rate 9.18%
Pro-Forma NOI $52,800
Class A
Year Built 2026
Buildings 2
Lot Size (SqFt) 6,000
Zoning R2
Investment Type Value Add

Multifamily | 2 Units

Marketing description

2524 E Lester Street is positioned in Tucson’s desirable Blenman-Elm neighborhood, one of Central Tucson’s established infill pockets known for its proximity to the University of Arizona, Banner - University Medical Center, neighborhood dining, coffee shops, and everyday services. The property benefits from a central location that supports multiple tenant demand profiles, including university-related stays, medical professionals, traveling nurses, visiting faculty, relocation tenants, and lifestyle-driven renters seeking access to Tucson’s urban core. The surrounding area offers a walkable and bikeable neighborhood feel with quick access to restaurants, local food and beverage options such as Sonoran House, nearby retail amenities, and major corridors connecting to Downtown Tucson, Midtown, Campbell Avenue, Speedway Boulevard, and the broader central city. This location creates a strong foundation for short-term rental, mid-term furnished rental, or traditional residential use, subject to buyer verification of all applicable zoning, permitting, and rental regulations. 2524 E Lester Street presents a unique Central Tucson value-add opportunity in the desirable Blenman-Elm neighborhood. The property offers a clean, modern residential asset with updated interior finishes, furnishings included, and a setup oriented toward short-term rental use. A separate 320 SF container-style unit has already been placed on site, and utility work for the additional unit has been completed, creating a strong head start for a buyer to finish the interior, stabilize the space, and potentially create an additional income stream. The property is well-positioned near the University of Arizona, Banner - University Medical Center, Central Tucson, neighborhood restaurants, coffee shops, and local destinations including Sonoran House. The location supports multiple rental strategies, including short-term rental where legally permitted, mid-term furnished rental, traveling nurse housing, university-related housing, or traditional rental use.

Investment highlights

  • Located in the desirable Blenman-Elm neighborhood of Central Tucson
  • Close proximity to University of Arizona, Banner - University Medical Center, restaurants, coffee, neighborhood services, and Central Tucson amenities
  • Modern, updated interior with clean finishes, stainless appliances, updated kitchen, updated bath, and mini-split HVAC
  • Separate 320 SF container-style unit has been placed on site
  • Utility work for the 320 SF unit has been completed
  • Interior of the 320 SF unit still needs to be completed, creating a value-add opportunity for the next owner
  • Potential to create an additional rental income stream upon completion of the separate unit, subject to buyer verification of permits, zoning, and rental eligibility
  • Flexible investment strategy: traditional rental, mid-term furnished rental, traveling nurse housing, university-related tenant demand, or STR where legally permitted
  • Low-maintenance desert yard with private fenced setting
  • Strong repositioning story with opportunity to complete, furnish, lease, stabilize, and potentially refinance or resell after income growth
  • Offered at $575,000 with upside tied to completion of the additional unit and professional rental execution
  • furnishings included setup for short term rentalt
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Listing Contacts

SH
AZ SA684469000
Metro Phoenix Commercial Team with Coldwell Banker Commercial Realty
Listed by Metro Phoenix Commercial Team with Coldwell Banker Commercial Realty

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Zoning

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R-2 ResidentialMulti FamilyResidence
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Last updated Jun 22, 2026 For deeper zoning details, reports are available at Zoneomics

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Additional Information

Name
Scott Hotchkiss
License
SA684469000
Brokerage
Coldwell Banker Commercial
Brokerage Phone
(520) 269-1968
Brokerage Address
3113 E Lincoln Dr. Suite 101
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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