TUCSON, ARIZONA - Near the University of Arizona, a significant, award-winning historic rehab known as the Don Martin Apartments was sold by Phil Lipman for $2.665 million ($111,000 per unit).
Lipman purchased the building in 2004 to renovate the historic property.
Built in 1929, this Joesler-designed building was completely rehabbed in 2005 like a beautiful pre-war New York condominium-syle building and has stayed fully occupied since the rehab.
Located at 605 East 9th Street in Tucson, the Don Martin affords a wide selection of retail, restaurant and cultural options literally steps from its front door. Hotel Congress, Rillito Theatre, University and dozens of trendy restaurants, to name but a few attractions all within walking distance.
All of downtown and Fourth Avenue are nearby as well as Main Gate being just a mile to the northeast on the Modern Streetcar to offer the best of trendy inner-city living.
The 16,317-square-foot building is two-stories with 24-units and sits on a 22,416-square-foot urban lot.
Tony Reed with Long Realty represented the seller and Shelly Minish with Re/Max Select represented the buyer, Performance Properties Group, LLC (Jihad Alyusuf, manager) a Tucson investment group.
For more information, Reed should be reached at 520.918.5189 and Minsh can be contacted at 520.414.6728. Lipman is also a licensed real estate broker with Bright Properties and can be reached at 520.609.6093.
To learn more, see RED Comp #8398.