$3,995,000
Tucson, AZ 85706
MLS# 22622395
31884 sqft
1 / 18
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.
Details
Maps
Address Information
Country: USA
Street #: 5770
Direction: S
Street Name: Jeanette
Suffix: Boulevard
State/Province: AZ
Zip Code: 85706
County: Pima
Location, Tax & Legal
Tax Year: 2025
Taxes: 23731
Taxes For: Building & Land
Legal Description: Los Ranchitos #6 Lot 220 Exc N35'&W35'
Development Name: Drexel Plaza
Municipality/Zoning: Tucson - C1
Fire Protection: Included in Taxes
FEMA Flood Zone: No
Municipal Flood Zone: No
Tax Code: 14025011B
Area: South
Contract Information
Method of Title: Fee (Simple)
Short Sale: No
Current Price: $3,995,000
List Price: $3,995,000
Listing Date: 2026-09-11
Status: Active
General Property Information
Property Sub-Type: Apartment
Construction Status: Existing
# Units: 58
Lot Dimensions: 215 X 200 X 265 X 250
Lot Acres: 1.5
Lot Sqft: 65707
Multi-Tenant: Yes
Lot Size Source: Assessor
Source of SqFt: Assessor
List Price/SqFt: 125.3
Lot Size Price/SqFt: 60.8
Year Built: 1988
Combined SqFt: 31884
Showing Information
Directions: S On Park Fr Irvington E On Drexel To Jeanette To Address
Electric
Electric Company: TEP
Income
Vacancy Loss: 33397
Other Income: 60591
Adjusted Gross: 583804
Gross Scheduled Rent: 556610
Net Opp Income: 302186
Analysis
Gross Rent Multi: 6.84
Vacancy Rate %: 6
Exp % of Gross: 47.2
Cap Rate %: 6.82
Construction
Concrete Block: 1
Expenses
Admin Expenses: 11600
Captial Expenses: 14500
Contract Services: 14500
Figures Presented: Proforma
Insurance: 31900
Maintenance Supplies: 37700
Management: 40087
Taxes/Assessments: 25272
Water/Sewer: 83327
Other Expenses: 11600
Sewer
Connected: 1
Unit Information
Apartment: Low Rise
Apartment Unit Information
# of Units/Studios: 1
Avg Mo Rent/Studios: 675
# of Units/1 BR: 42
Avg Mo Rent/1 BR: 795
# of Units/2 BR: 15
Avg Mo Rent/2 BR: 995
Water
Public: 1
Main Cooling
Central Air: 1
Wall Unit(s): 1
Terms
Cash: 1
Conventional: 1
Exchange: 1
Special Conditions
None: 1
Landscape - Front
Desert Plantings: 1
Landscape - Rear
Desert Plantings: 1
Freeway/Highway
2.1 - 5 Mile: 1
Possession
Recording: 1
Remarks Misc
Geo Lat: 32.14723
Geo Lon: -110.954608
Property Features
Construction: Concrete Block
Main Cooling: Central Air; Wall Unit(s)
Sewer: Connected
Water: Public
Landscape - Front: Desert Plantings
Landscape - Rear: Desert Plantings
Terms: Cash; Conventional; Exchange
Possession: Recording
Special Conditions: None
Supplements
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.
Listing Office: ABI Multifamily, LLC
Last Updated: September - 14 - 2026
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