Central Tucson Victoria Arms Apartments Sell for $2.9 Million

Victoria Arms Apartments

TUCSON, AZ (April 22, 2026) — Victoria Arms Apartments, a 25-unit multifamily property at 1518 E. Hendrick Drive in Central Tucson, sold for $2.9 million on April 13 in an investment sale. The transaction equates to $116,000 per unit and $150.65 per square foot.

Built in 1975, the masonry complex totals 19,250 square feet on 1.7 acres and consists of five one-story buildings. The property includes 25 two-bedroom, one-bath units and offers amenities such as individually fenced yards, a pool, and laundry facilities.

The seller was G and B Holdings LLC of Castle Rock, Colorado, and the buyer was Christopher R. Cotler of Scottsdale. The deal included seller carryback financing.

Located in Tucson’s Central submarket near the University area, Victoria Arms represents another apartment trade in one of the city’s more established infill neighborhoods, where smaller and mid-sized multifamily assets continue to attract investor interest for their stable occupancy potential and proximity to employment, education, and retail amenities.

The listing was handled by Cushman & Wakefield | PICOR. Allan Mendelsberg was the contact broker, and Joey Martinez was also listed on the assignment.

For more information, contact Mendelsberg at 520.546.2721 and Martinez at 520.546.2730.

Source: RED Comp #12424



Three Tucson Land and Office Sales Total Over $1 Million in Recent PICOR Transactions

PICOR transactions

TUCSON, ARIZ. (July 25, 2025) — A trio of commercial real estate deals totaling over $1 million closed recently in Tucson, involving retail, multifamily, and office properties across the city were PICOR transactions.

In the largest of the three sales, Tierra Imperial LLC acquired 0.34 acres of retail-zoned land at 702 S. Stone Avenue and 709 S. 7th Avenue for $490,000. The centrally located parcels sit within Tucson’s emerging downtown-edge corridor, offering strong redevelopment potential. Kameron Norwood, Investment Sales & Leasing Specialist with Cushman & Wakefield | PICOR, represented both the buyer and seller, R + R DEVELOP LLC, in the transaction.

In a separate deal on the city’s southeast side, Wayne and Donna Swan purchased 1.64 acres of multifamily-zoned land at 3901 & 3941 S. Kolb Road for $354,000. The site is well-positioned near major transportation corridors and residential growth areas. Kameron Norwood represented the seller, Las Casitas XIVB LLC, while Zachariah Samorano of Hot Casa LLC represented the buyers.

On the office side, AZ Behavioral Health Outreach Strategies expanded its footprint with the acquisition of 1,800 square feet of office space at 2660 N. 1st Avenue for $210,750. The building provides a strategic location near the intersection of 1st Avenue and Grant Road. Jason Shaltiel, Office Specialist with Cushman & Wakefield | PICOR, represented the buyer. The seller, William C. Scott Living Trust, was represented by Jeramy Price of Volk Company.

These transactions highlight continued investment momentum in Tucson’s infill corridors and growth areas, with local buyers actively pursuing development and owner-user opportunities across asset types.

Sources: RED Comps #11971, #11957 and #12012.



Glendale Investor Acquires Three Tucson Duplexes for $1.25 Million

Tucson Duplexes
TUCSON, ARIZ. (July 25, 2025) — A portfolio of three duplexes located at 4108, 4114, and 4120 S. 12th Avenue in Tucson sold for a combined total of $1,251,000 in late June. The buyer was Arias Property, a private investment group based in Glendale, Arizona, acquiring the six-unit package at an average price of $208,500 per unit.
The seller was E & S Development, LLC, an entity owned by Colin Properties (Curt Stinson of Engel & Völkers, Tucson) and Greenhill Development (David Evans of Realty One Group, Scottsdale). Engel & Völkers represented the seller in all three transactions.
The sale was executed in three separate deals over four days, from June 27 to June 30, 2025, allowing for flexibility in closing and financing. Each of the properties contains two rental units, and each sold for $417,000, totaling six units across the portfolio.
Situated along South 12th Avenue near Irvington Road, the properties are in Tucson’s Southside submarket—a working-class residential corridor with strong rental demand and access to major bus routes, employment centers, and retail services. The area continues to draw attention from private capital seeking stabilized assets or value-add opportunities in Tucson’s high-occupancy, low-supply multifamily market.
“These smaller multifamily deals remain attractive to out-of-market investors due to Tucson’s affordability, steady rental income, and low vacancy rates,” said Curt Stinson, who co-managed the disposition on behalf of E & S Development. “We’re seeing continued buyer interest from Phoenix and California for workforce housing in core Tucson neighborhoods.”
The transaction adds to a growing trend of Phoenix-based investors expanding into Southern Arizona, targeting duplexes, triplexes, and fourplexes as scalable additions to rental portfolios without institutional competition.
For more information, contact Curt Stinson, Engel & Völkers Tucson at (520) 954-5800.