Current Listings from Andy Courtney Properties

534 N Ash Avenue, Tucson, AZ 85705

$550,000

540 Ash Kitchen with resurfaced wood floors

540 Ash back yard with off-street parking beyond

534 Ash living space looking the other way.

Drone shot showing the proximity of the fourplex to the downtown area.

Another aerial shot of the property and the Catalinas in the background. The Sixth St underpass is in the foreground.

Drone shot of the property and the majestic city in the background

High drone shot showing the large off-street parking area.

The four steel fences that are in the back of the property. Good dog yards.

Another shot of the back of the property showing the back yards of the four units.

The back yard of the middle units, 536 and 538

The Southernmost yards of the 534 and 536 units

Another view of the off-street parking area and A Mountain.

New paint and beautiful mature landscaping on this historic property

Nice dog yard and bougainvillea make this a very livable space

historic brick downtown fourplex with front planters and dead end street.

538 front living area with wood floors and wood trim.

538 bedroom looking back into the living area, showing the railroad style of these units.

538 beautiful wood floors, notice the door that leads into the unit on the right, meaning this could be an owner's suite, as it was when the seller purchased it.

538 Kitchen and full water heater (in each unit)

538 kitchen looking out to the back yard and off-street parking

538 kitchen with full sized, gas stove looking into the bedroom and the trash bag I forgot to remove for the picture.

Property Type: Multi-Family Square Footage: 1,728 Lot Size (sq. ft.): 83 Status: Active

Current Price: $550,000 List Date: 12/16/2025 Last Modified: 3/13/2026

Overview

Description

Located in the heart of downtown, this high-demand four-plex enjoys unbeatable proximity to Fourth Avenue, the modern streetcar, The University of Arizona, Pima College Helen St Annex, The Downtown Entertainment District, and everything else Downtown Tucson has to offer. The property features four historic railroad-style apartments, each with off-street parking and private yards enclosed by artistic steel fencing. With wood floors throughout, a brand-new roof, fresh exterior paint, and minimal landscaping needs, this investment offers strong cash flow with low operating cost.

Listing Details MLS# 22531842

Address Information

Street #: 534
Direction: N
Street Name: Ash
Suffix: Avenue
State/Province: AZ
Zip Code: 85705
County: Pima
Country: USA

Location, Tax & Legal

Tax Code: 117-04-2040
Area: Central
Subdivision: Tucson
Comparable Only Listing: No
Tax Year: 2025
Taxes: 3173.47
Taxes For: Dwelling & Land
Legal Description: From Parcel:001010010 /Tucson W100' Lot 4 Blk 57
Township: 14
Community: None
Range: 13
Section: 12
Municipality/Zoning: Tucson - C3
Fire Protection: Included in Taxes
FEMA Flood Zone: No
Municipal Flood Zone: No

General Property Information

Dwelling Type: Quadruplex
Attached/Detached: Attached
Construction Status: Existing
Lot Dimensions: 98' x 65' x 98' x 65'
Lot Acres: 0.15
Lot Sqft: 6621
Lot Size Source: Assessor
Combined SqFt: 1728
Year Built: 1915
Total Parking: 6
School District: TUSD
Elementary School: Davis Bilingual Magnet
Middle School: Mansfeld
High School: Tucson
Horse Property: No
Horse Facilities: No
List Price/SqFt: 318.29
Lot Size Price/SqFt: 83.07

Property Features

Construction: Brick; Wood Frame Style: Bungalow Roof: Shingle Living Areas: None Dining Areas: Eat-In Kitchen Dining Room: None Breakfast: Eat-In Kitchen Features: Gas Range; Refrigerator Bathroom Features: Pedestal Sink(s) Laundry: None Extra Room: None Interior Features: Ceiling Fan(s); Smoke Detector Floor Covering: Ceramic Tile; Wood Window Covering: Some Window Features: Double Pane Windows Technology: Cable TV; Telephone Main Cooling: Dual Main Heating: Baseboard; Wall Furnace Water Heater: Natural Gas Gas: Natural Sewer: Connected Accessibility Option: None Security: None Pool: None Spa: None Fence: Wrought Iron Landscape - Front: Flower Beds; Shrubs; Trees Landscape - Rear: Graded Road Type: Paved Driveway: Car(s) Pad Exterior Feature: None Lot Features: East/West Exposure Neighborhood Features: Historic; Paved Street; Sidewalks; Street Lights Terms: Cash; Conventional; Submit Submit With Offer: Earnest Check; Loan Pre-Qualifiaction; Proof of Funds Property Disclosures: Lead Based Paint; Insurance Claims History Report Special Conditions: None

Contract Information

Method of Title: Fee (Simple)
Distressed Info: None

More Information

Showing Information

Directions: Stone and 6th, North to 5th St, West to Ash Ave, S to address.

Unit Info

# of Units/1 BR: 4
Avg Mo Rent/1 BR: 693.75

Unit 1 Information

Monthly Rent: 800
# Beds: Yes
# Full Baths: Yes
SqFt: 425
Occupancy: Yes
Stories: Single
Floor: 1st
Furnished: No
Parking: On Property

Unit 2 Information

Monthly Rent: 675
# Beds: Yes
# Full Baths: Yes
SqFt: 407
Occupancy: Yes
Stories: Single
Floor: 1st
Furnished: No
Parking: On Property

Unit 3 Information

Monthly Rent: 650
# Beds: Yes
# Full Baths: Yes
SqFt: 407
Occupancy: Yes
Stories: Single
Furnished: No
Parking: On Property

Unit 4 Information

Monthly Rent: 650
# Beds: Yes
# Full Baths: Yes
SqFt: 425
Occupancy: Yes
Stories: Single
Floor: 1st
Furnished: No
Parking: On Property

Analysis

Cap Rate %: 3.72
Gross Rent Multi: 17.27
Exp/SqFt: 6.9
Exp % of Gross: 35.8
Vacancy Rate %: 0

Income

Gross Scheduled Rent: 33300
Adjusted Gross: 33300
Total Expenses: 11920
Net Opp Income: 21380
Vacancy Loss: 0
Other Income: 0

Expenses

Insurance: 2023
Maintenance Supplies: 1000
Management: 4524
Taxes/Assessments: 3173
Water/Sewer: 1200
Figures Presented: Actual
Admin Expenses: 0
Capital Expenses: 0
Contract Services: 0
Gas/Electric: 0
Resident Manager: 0
Other Expenses: 0

Kitchen Features

Pantry: Cabinet
Appliance Color: White
Gas Range: Yes
Refrigerator: Yes

Interior Features

Interior Steps: No
Ceiling Fan(s): Yes
Smoke Detector: Yes

Electric

Electric Company: TEP

Water

Water Company: Tucson Water

Utilities Paid

Cable TV: Tenant
Electric: Tenant
Gas: Tenant
Insurance: Owner
Sewer: Owner
Taxes: Owner
Trash: Owner
Water: Owner

RV Parking

Other: None

Subdivision Restrict

Age Restrictions: No
Deed Restrictions: Yes
CC&Rs: No

Submit With Offer

Digital Signatures: Yes
Earnest Check: Yes
Loan Pre-Qualifiaction: Yes
Proof of Funds: Yes

Home Protection

Offered: No

Gas

Natural: Yes

Construction

Brick: Yes
Wood Frame: Yes

Style

Bungalow: Yes

Sewer

Connected: Yes

Roof

Shingle: Yes

Living Areas

None: Yes

Dining Areas

Eat-In Kitchen: Yes

Fence

Wrought Iron: Yes

Dining Room

None: Yes

View

City: Yes

Breakfast

Eat-In: Yes

Road Type

Paved: Yes

Road Maintenance

City: Yes

Lot Features

East/West Exposure: Yes

Main Cooling

Dual: Yes

Laundry

None: Yes

Neighborhood Features

Historic: Yes
Paved Street: Yes
Sidewalks: Yes
Street Lights: Yes

Main Heating

Baseboard: Yes
Wall Furnace: Yes

Extra Room

None: Yes

Water Heater

Natural Gas: Yes

Association & Fees

HOA: No

Bathroom Features

Pedestal Sink(s): Yes

Terms

Cash: Yes
Conventional: Yes
Submit: Yes

Floor Covering

Ceramic Tile: Yes
Wood: Yes

Window Covering

Some: Yes

Accessibility Option

None: Yes

Window Features

Double Pane Windows: Yes

Technology

Cable TV: Yes
Telephone: Yes

Security

None: Yes

Landscape - Front

Flower Beds: Yes
Shrubs: Yes
Trees: Yes

Landscape - Rear

Graded: Yes

Patio/Deck

None: Yes

Pool

None: Yes

Property Disclosures

Insurance Claims History Report: Yes
Lead Based Paint: Yes

Spa

None: Yes

Special Conditions

None: Yes

Driveway

Car(s) Pad: Yes

Exterior Feature

None: Yes

Documents

Lead Paint Discl ›

Brand New Roof Warranty ›

40-Year Shingle Warranty for Roof O.C. ›

Affiliated Business Disclosure Statement ›

Listing Office: Tierra Antigua Realty

Last Updated: March - 13 - 2026

The data relating to real estate listings on this website comes in part from the Internet Data Exchange (IDX) program of Multiple Listing Service of Southern Arizona. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listings provided by brokerages other than the listing brokerage here are identified with the MLSSAZ IDX Logo. All Information Is Deemed Reliable But Is Not Guaranteed Accurate. Listing information Copyright 2020 MLS of Southern Arizona. All Rights Reserved.

534 N Ash Avenue, Tucson, AZ 85705 (MLS# 22531842)