TUCSON, ARIZONA — A private investment group purchased The Compound Student Housing at 774 E Seneca in Tucson for $3.15 million ($112,500 per bed). The 7-unit property was 100% occupied when is sold. Allan Mendelsberg, Multifamily & Investment Specialist with Cushman & Wakefield | PICOR, handled the transaction for the investors and the seller, Gould Family Properties of Tucson.
Yavapai Apartments at 420 E Yavapai Road in Tucson sold for $1.55 million ($46,970 per unit). The 33-unit, small-community consists of all two-bedrooms / one bath apartment homes and sold with one vacant unit. Claud Smith with Goldsmith Property Management were managing the complex and represented the sellers, Yavapai Properties, LLC, a private group of investors. Allan Mendelsberg with Cushman & Wakefield | Picor handled negotiations for the investor.
10th Street 12, LLC purchased 10th Street Apartments, a 12-unit complex located at 804 & 860 E. 10th St. in Tucson, from Jalan Sepuluh, LLC for $1 million ($83,333 per unit). Allan Mendelsberg with Cushman & Wakefield | PICOR, handled this transaction.
Gould Family Properties VIII, LLC purchased Pima Street Apartments, a 12-unit complex located at 5739-5755 E. Pima Rd. in Tucson, from Brian & Lauretta Kunz for $735,000 ($61,250 per unit). Broker reported that in four days seven offers were received on this property. Allan Mendelsberg with Cushman & Wakefield | PICOR, handled this transaction.
25Jac Properties, LP purchased a 13,032-square-foot specialized residential facility at 1835 W. Anklam Road in Tucson, from Long Far Investments, LLC for $650,000 ($49.88 PSF). The seller purchased it for $500,000 to renovate for office space and flipped it to the buyer. The property was vacant at time of sale and the buyer intends to renovate the former Carondelet Convent into an 80-100 bed Halfway House. Paul Hooker, Industrial Specialist with Cushman & Wakefield | PICOR, represented the seller; Allan Mendelsberg with Cushman & Wakefield | PICOR, represented the buyer.
For additional information, Mendelsberg should be reached at 520.546.2721 and Hooker can be called at 520.546.2704.