TUCSON, Arizona –  ABI Multifamily, the Western US’s leading multifamily brokerage and advisory services firm, is pleased to announce the $2.1 million ($42,857 per unit) sale of the 49-Unit Eastpointe Apartments at 8477 East Broadway Blvd. in Tucson, AZ.

The property is a garden style apartment community originally built in 1981 of frame/stucco construction and sits on 1.33-acres of land near the intersection of South Camino Seco and East Broadway Blvd.  Eastpointe has three, 2-story buildings with (48) one-bedroom units and one two-bedroom unit with a weighted average size of 433-square-feet.  The property, which recently underwent select renovations, is a gated community and features a community swimming pool, BBQ grill area and laundry facility.

“The Buyer was in search of a stable asset with upside potential,” states Lance Parsons, Senior Vice President at ABI, who co-represented the Seller with Ryan Kippes, Vice President at ABI.  “This pride of ownership, rehabbed property is located approximately 20 minutes from both Downtown/U of A and Saguaro National Park.”

The Buyer in this transaction is a private individual based in Portland.

The Seller in this transaction is a private individual based in Washington.

The ABI Multifamily brokerage team of Lance Parsons, CCIM, Ryan Kippes and Jonathan Ibrahim represented the Seller in this transaction.

For more information, Parsons should be reached at 520.265.1945, Kippes can be contacted at 520.265.1895 and Ibrahim is at 520.265.1127.

To learn more, see RED Comp #4967.

TUCSON, Arizona — Richmond American Homes, a subsidiary of M.D.C. Holdings, Inc. (NYSE: MDC) purchased 41-platted and engineered lots at Mountain Vail Estates in southeast Tucson for $1.25 million ($30,482 per lot). Richmond has been open and selling homes here since March, after closing on the first 50-lots. This was phase two of the option agreement.

The seller had re-platted the lots and were reported to be about 80 percent 50’x 115’ and 10-15 percent 60’ wide lots in Mountain Vail Estates, a 155-acre community in southeast Tucson with a 7.5-acre park and Esmond Station K-8 school in the award-winning Vail School District, that opened in 2014. Richmond has two models it is offering here.

Richmond has been staying proactive in the Tucson market and now represents about 37% of the total lots sold to homebuilders during the first half 2017.

In a separate transaction, Richmond bought an additional 76 P&E lots also in Mountain Vail Estates for $2.74 million ($36,000 per lot).

Rick Morris, Richmond American Director of Land Acquisition in Tucson, told us the 21-lot subdivision off Chevrolet Ave., located near the school, sold with a 55 P&E lot subdivision south of Old Vail Connection Road and Chevrolet Avenue. The 21-lots were re-platted by the seller and the 55-lots are a newly platted subdivision. This latest expansion to Mountain Vail Estates has 60’ x 120’ lots on average and is expected to open Q1 2018.

Since 1977, MDC’s homebuilding subsidiary companies, which operate under the name Richmond American Homes, have built and financed the American dream for more than 190,000 homebuyers. MDC’s commitment to customer satisfaction, quality and value is reflected in the homes its subsidiaries build. MDC is one of the largest homebuilders in the United States. Its subsidiaries have homebuilding operations across the country, including the metropolitan areas of Denver, Northern Colorado,  Colorado Springs, Salt Lake City, Las Vegas, Phoenix, Tucson, Riverside-San Bernardino, Los Angeles, San Diego, Orange County, San Francisco Bay Area, Sacramento, Washington D.C., Baltimore, Northern Virginia, Orlando, Jacksonville, South Florida and Seattle. MDC’s subsidiaries also provide mortgage financing, insurance and title services, primarily for Richmond American homebuyers, through HomeAmerican Mortgage Corporation, American Home Insurance Agency, Inc. and American Home Title and Escrow Company, respectively. M.D.C. Holdings, Inc. is traded on the New York Stock Exchange under the symbol “MDC.” For more information, visit MDCHoldings.com.

To learn more, see RED Comps #4965 and #4966.

TUCSON, Arizona – Twelve office condominiums in four buildings at Plaza Campana sold in an REO auction sale for $2,336,250 ($83 PSF). The 12 condos totaling 28,068-square-feet were built in 2002 and sold in bulk at auction through Ten-X.com for US Bank, NA., the lender.

The buyer, a local investment group is also an occupant in the complex, dba Wellbeing Center, and purchased the units for investment. Buyer plans to retain the current leases and market the individually-parceled vacant units for sale.

John Yarborough and David Carroll with Romano Real Estate represented the buyer in the transaction and have been retained to market the office condo units for sale.  In the past, these condos had been available for lease, but the new ownership group is now offering the vacant condos for sale on an individual basis.

The condos range in size from 1,537- to 7,000-square-feet in various condition, some in gray shell and some finished, upstairs and on ground floor, fronting Oracle or not. There is even a 4,204-square-foot freestanding building located at the southwest corner of the project at 6861 N Oracle.

At this point, there are no plans to lease any of the vacant spaces; they are only being offered for sale in this Class A complex with year to date submarket occupancy levels above 90%.  Plaza Campana, near the upscale Catalina Foothills in Northwest Tucson / Oro Valley submarket, has excellent visibility and accessibility from Oracle Road with over 90,000 vehicles per day.

For more information, Yarborough and Carroll should be reached at 520.577.1000.

To learn more, login and see RED Comp #4945 and see RED Listing Registry for more listings.

[mepr-show rules=”58038″]Closing date: 6/15/2017. The twelve condos have 11 parcel numbers with units 19 & 20 on one. APN: 102-03-335, 336, 337, 338, 339, 340, 349A. 351, 352, 353, 354. Units 5 thru 10, 19 thru 24 Plaza Campana Condominiums bk 54 pg 86; interest in common elements.[/mepr-show]