Hacienda Del Oro Holdings, LLC of New Jersey purchased Alvernon Hacienda Apartments, a 36-unit apartment complex at 3949 E. Monte Vista Dr. in Tucson from California-based Alvernon Hacienda Properties, LP (David Silverstein) for $885,000 ($23,611 per unit).
This Low Income Housing (LIH) project has been in service since 1993 and has a total of 36 low income units, which is slightly less than other LIH properties. The unit mix comprises 24 studio apartments and 12 three-bedroom units in the 21,984-square-foot apartment building on a .93 acre lot.
Nearby schools include Academy Adventures Midtown, Davidson Elementary School and Outer Limits School. The closest grocery stores are Catalina Market, Walmart Neighborhood Market and Friendly Market. Nearby coffee shops include The Coffee Loft, Raging Sage Coffee Roasters and 7-Eleven. Nearby restaurants include Le Rendez-Vous, Cinco De Mayo and Little Caesars Pizza.
Located near McCormick Park, Mehl Foothills Park and LaMadera Park, the area has excellent bike lanes and flat terrain for bicyclists.
Allan Mendelsberg, Investment Specialist with Cushman & Wakefield | PICOR, represented the buyer and the seller in this transaction.
Mendelsberg should be contacted at 520.546.2721 for more information.
To learn more see RED Comp #3367.