Phoenix, AZ. (March 19, 2025) – ABI Multifamily, the premier multifamily brokerage and advisory services firm in the Western U.S., is pleased to announce the $22,350,000 sale of La Posada Apartments, a 136-unit multifamily community in Tucson, Arizona. The transaction, priced at $164,338 per unit and $189.09 per square foot, was facilitated by ABI Multifamily’s Phoenix-based Institutional Arizona Team—Alon Shnitzer, Rue Bax, Eddie Chang, Doug Lazovick, and Tyler Bruggman—in collaboration with their Tucson Apartment Team, Desiree Palmer and Ryan Kippes. The buyer, Break of Day Capital, is based in California, while the seller, Element Property Company, a national multifamily investment firm, acquired the property in 2020.
La Posada Apartments is located in the Midvale neighborhood of Tucson, Arizona, at 1745 South Headley Road, just north of West Valencia Road. Residents enjoy convenient access to downtown Tucson, which is approximately a 15-minute drive via Interstate 19. The property is also just two miles from the Tucson Spectrum outdoor mall, offering a wide range of amenities, including Target, The Home Depot, Ross Dress for Less, Best Buy, Discount Tire, Harkins Theatre, Sprouts Farmers Market, and Main Event.
Completed in 1999, La Posada Apartments features wood frame and stucco construction with pitched tile roofing. The property offers a well-balanced unit mix, including 26 one-bedroom/one-bathroom units, 30 two-bedroom/one-bathroom units, and 80 three-bedroom/two-bathroom units, with an average size of 869 square feet. Each unit is individually metered for electricity and has its own hot water heater. Unit interiors include air conditioning, walk-in closets, patios/balconies, vinyl-wood flooring (in select units), ceiling fans (in select units), and access to cable and high-speed internet. Kitchens are fully equipped with stainless steel appliances (in select units). On-site amenities include a swimming pool/spa, clubhouse, laundry facilities, fitness center, business center, children’s playground, gated entry, and ample open parking.
Nearby employers include Banner University Medical Center South, Freeport-McMoRan, Walmart, Intuit, and the University of Arizona, making La Posada Apartments a prime location for tenants.
To learn more, subscribers should refer to RED Comp #11784.