Tucson, AZ — ABI Multifamily, Arizona’s largest locally operated, dedicated multifamily brokerage and advisory services firm, is pleased to announce the $1,134,400 ($56,720 per unit) sale of the El Dorado Terrace Apartments at 6224-6238 East Fairmount Street, a 20-unit apartment community located in Tucson, Arizona.
Built in 1978, this single story apartment community in twin 10-unit buildings on separate parcels features all 2-bedroom / 1-bath unit types, approximately 900-square-feet in size. These spacious units are separately metered for electricity and feature individual carports, fenced yards, washer/dryer hookups, tile floors and evaporative cooling. The property also features two pools.
“El Dorado Terrace Apartments is a well maintained asset located across the street from Dorado Country Club Golf Course and Tucson’s famous, Casa Molina Mexican Restaurant. Additionally, the property less than six miles from the University of Arizona,” states Lance Parsons, CCIM, Senior Vice President at ABI. “This unique single-story property attracted much investor attention due to its location and unique design aesthetic which provide tenants with their own fenced in yards and covered parking.”
The seller, Susan and Michael Davis Trust, is a private multifamily investor based in Arizona.
The buyer, Kimball Peak Properties of Tucson, is a private multifamily investor based in Arizona.
ABI Multifamily’s Tucson office led by Lance Parsons represented both the seller and buyer in this transaction.
ABI Multifamily is a brokerage and advisory services firm that focuses exclusively on apartment investment transactions. The experienced advisors at ABI Multifamily have completed billions of dollars in sales and thousands of individual multifamily transactions. ABI Multifamily incorporates a global approach with regional real estate expertise to successfully complete any multifamily transaction, regardless of size and complexity.
For more information, Parsons should be reached at 520.265.1945.
To learn more, see RED Comp #3809.