Santa Cruz River Apartments
Tucson, Ariz. (October 21, 2025) – CBRE’s Jeff Casper has facilitated the sale of Santa Cruz River Apartments, a 55-unit multifamily community located at 851 West Ajo Way in Tucson, Ariz. The property was acquired by Santa Cruz River LLC for $3.62 million ($65,818 per unit).
Casper represented the seller, A&J Properties Three LLC, in the transaction. Allan Mendelsberg and Joey Martinez of Cushman & Wakefield | PICOR represented the buyer.
“This sale represents a significant opportunity in a growing area of Tucson,” said Casper, first vice president. “The property, which was a long-term hold for a family office, offers the Buyer a compelling value-add opportunity in a market experiencing strong population growth and expanding retail options. Its location near key employment corridors further enhances its appeal as an attractive investment.”
The four-building community features a mix of studio, one- and two-bedroom units. Built in 1983, select units have undergone renovations with the addition of new cabinets, countertops, vinyl plank flooring, and new appliances, which have been well-received by residents
Situated on 1.5 acres, Santa Cruz River Apartments is located along Interstate 19 (I-19) and offers convenient access to downtown Tucson and I-10.