TUCSON, AZ - Kahane Trust of Venice, CA (Fred Kahane, trustee) purchased the Senior Living, Coronado Vista Courtyard Apartments at 1511 N Craycroft Road in Tucson for $1.7 million ($42,500 per unit).
The property is a 40-unit complex that had recently been completely renovated and sold with no deferred maintenance. The unit mix consists of 15-studios, 24-one-bedrooms and 1-two-bedroom unit. Built in 1963 it was 95% occupied at time of sale.
Coronado Vista Courtyard Apartments is a 55 and older Community with the unique distinction of being a 100% non-smoking, active independent senior community.
Located in the Northeast Tucson submarket, property is in proximity to many shopping, dining and store locations and minutes away from Park Place Mall, Restaurant Row, Sabino Canyon, Udall Park & Senior Center, Tucson Medical Center and both El Dorado and St. Joseph's Hospitals.
The community has vintage mid-century architecture, with a Southwestern flair; beautifully restored with quality materials. The solid look of masonry has been further enhanced with eco-friendly and energy saving dual pane windows and the addition of foam insulated exterior masonry walls. Upscale lighting, beautifully refinished original cabinetry, granite looking countertops, high seated elongated toilets, carpet-free flooring and custom painted interiors are just a few of the features. Each apartment has its own separate central heating and AC system.
Beautiful French doors open to a large central courtyard, with a rose vine covered Ramada with bench seating, and free local & long distance (US & CANADA) phone calls is available in the Clubhouse.
Hamid Panahi and James Crawley with Marcus & Millichap in Phoenix the seller, Trapnell Properties LLC of Tucson (Thomas Trapnell, manager) in this transaction.
For more information, Panahi and Crawley should be reached at 602.687.6700.
To learn more, see RED Comp #4159.