Two Tucson Multifamily Properties Sell for Combined $2.125 Million

TUCSON, AZ (May 28, 2026) — Two Tucson multifamily investment properties sold in separate transactions for a combined $2.125 million, with Allan Mendelsberg and Joey Martinez, Principals and multifamily specialists with Cushman & Wakefield | PICOR, representing both parties in each sale.

The larger of the two sales by unit count involved a 12-unit apartment complex at 5757 E. 23rd Street in Tucson. John Francis Kopecky, Trustee, purchased the property from RW 5757 LLC, c/o CHW Property Holdings LLC, for $1.05 million. The 6,650-square-foot complex was built in 1964 and sits on 0.76 acres in Tucson’s east submarket. The sale equates to $87,500 per unit and $157.89 per building square foot. The property includes three fourplex buildings with a mix of studio, one-bedroom, and two-bedroom units, as well as laundry facilities.

In a separate central Tucson transaction, 9th Drachman LLC, c/o SVP Holdings LLC, purchased a 9-unit apartment property at 925 E. Drachman Street from JW Elizabeth Properties LLC for $1.075 million. The 4,028-square-foot complex was built in 1936 and sits on 0.38 acres near the University of Arizona and Banner University Medical Center. The sale amounts to $119,444 per unit and $266.88 per square foot of building area. The transaction includes the 925 E. Drachman property as well as related parcels at 1236–1240 E. 9th Street and 147 N. Mountain Avenue.

Both sold around 6.7% cap rates, and together, the two sales reflect continued investor demand for small multifamily properties in established Tucson infill locations, particularly assets near major employment, education, and medical anchors.

Allan Mendelsberg and Joey Martinez of Cushman & Wakefield | PICOR served as listing and selling broker representatives for both transactions.

For more information, Mendelsberg can be reached at 520.546.2721, and Martinez at 520.546.2730.

Source: RED Comp #12502 and #12483.

Six Built-to-Suit Duplexes Sell for $2.55 Million in Midtown Tucson

TUCSON, ARIZONA (May 27, 2026) — A six-duplex built-to-suit multifamily investment on North Ralph Avenue in Midtown Tucson sold for $2,550,000.

The property is located at 2140 N. Ralph Avenue, near East Grant Road and North Tucson Boulevard, in the Northeast submarket. The sale closed March 12, 2026, and included multiple parcels totaling approximately 0.87 acres, or 38,000 square feet. The transaction equates to approximately $205.26 per building square foot, $212,500 per unit, and approximately $2.93 million per acre.

The seller, E & S Development LLC, an affiliate of Colin Properties LLC, was represented by Curt Stinson, manager, with Brenden Urias Buono of Engel & Völkers as listing agent. The buyer was Auto Body of Murrieta, represented by David Gray the owner. Dustin Allred and Cindy Allred of Realty Executives Arizona Territory, Tanque Verde, handled the selling side.

The buyer was in a 1031 exchange.

The deal was structured as a built-to-suit investment sale. Three duplexes were completed at 2122, 2126, and 2130 N. Ralph Avenue, with three additional slabs poured, awaiting permits at the time of sale. As a condition of the transaction, the seller is to complete the remaining three duplexes for the buyer. Once completed, the property will include six duplexes across five addresses, with two duplexes at 2140 N. Ralph Avenue.

The sale reflects continued investor interest in small-scale infill multifamily product in central Tucson, particularly near established employment, medical, retail, and university-adjacent corridors. The Ralph Avenue property sits in a built-out Midtown neighborhood with access to Grant Road, Tucson Boulevard, Campbell Avenue, and the University of Arizona area.

For more information, Stinson can be reached at 520.954.5800, and Buono is at 520.270.2558. Dustin and Cindy Allred can be contacted at 520.314.3255.

Source: RED Comp #12401

Rocking K Records First 2026 Lot Sale with $9.4M Parcel U Transaction

TUCSON, ARIZONA (May 22, 2026) — Richmond American Homes of Arizona closed on 114 shovel-ready lots known as Parcel U of Rocking K master-planned community. The purchase price was $9,405,000. The Seller in the transaction was Rocking K Development, Co., led by Diamond Ventures, Inc. David Goldstein, President. It is the first sale of 2026 at this new location, the Rocking K MPC.

The lots are 55’ x 120’ and located in Neighborhood 7 of Rocking K near the southern entrance of the master plan with strong views and open space. This new neighborhood will have high visibility, substantial open space, hiking trails, panoramic views of the Rincons, and will enjoy a premier location in the community.

Designed by Nature, Rocking K spans nearly 5,000 acres at the foothills of the Rincon Mountains — directly adjacent to Saguaro National Park East — and has firmly established itself as the premier master-planned community in the Tucson metro area.

The community’s founding philosophy is simple: connect people with nature and with each other. An extensive multi-use trail network weaves through all fourteen neighborhoods, linking residents to parks, open space, and the surrounding Sonoran Desert landscape. Diamond Community Park’s 12-acre first phase of the planned 20-acre park is now complete, and a full calendar of adult, family, and children’s events ensures neighbors become friends quickly.

Rocking K currently has approximately 1450 occupied homes as of Q1 2026, with a planned build-out of over 4,000 homes. Nine homebuilders are active across fourteen distinct neighborhoods, offering buyers an exceptional range of floor plans, price points, and lifestyle options — including RV garage plans, multigenerational Next Gen® layouts, and active adult offerings through Del Webb. Move-in-ready pricing currently ranges from the mid-$300s to the upper $500s.

The community also benefits from one of the most sought-after school districts in Southern Arizona. Vail Unified School District has an ample 25-acre campus for a Kindergarten through 8th Grade school, and Saguaro Creek — the new VUSD K-8 — is now open within Rocking K, giving families a top-rated educational option steps from their front door.

The transaction was handled by Will White and John Carroll of Land Advisors Organization in Tucson.

For more information, White and Carroll can be reached at 520.514.7454.