TUCSON, AZ (April 22, 2026) — Treat Casitas, an eight-unit multifamily property at 2237–2241 N. Treat Ave. in Tucson, sold for $1.2 million in an off-market transaction that closed April 17. The sale equates to $150,000 per unit and $180.26 per square foot, with an attractive cap rate reported of 6.89%.
The property includes a mix of two one-bedroom/one-bath units, five two-bedroom/one-bath units, and one three-bedroom/two-bath single-family house. Marketing materials described the asset as a turn-key opportunity with recent major capital improvements, stainless steel appliances, and in-unit washers and dryers. The inclusion of the larger three-bedroom house adds another dimension to the unit mix and could broaden tenant appeal in a centrally located neighborhood near the University of Arizona and Culinary Dropout.
PICOR Multi-Family represented both parties in the transaction. Allan Mendelsberg and Joey Martinez of Cushman & Wakefield | PICOR handled the sale.
The deal stands out as another example of investor demand for smaller, well-located Tucson multifamily properties with updated interiors and operational upside already in place. Infill properties near the university area continue to attract attention, particularly when they offer a stabilized unit mix and recent improvements that limit near-term capital needs for a new owner.
For more information, Mendelsberg can be reached at 520.546.2721, and Martinez is at 520.546.2730.