Favorable Multifamily Market Trends Continue in Tucson

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317 N Vine Avenue, Tucson, AZ

Picor Handles $3.47 Million in Multifamily Sales Tucson

TUCSON, Arizona — Allan Mendelsberg with Cushman & Wakefield | Picor closed on an aggregate of 48-units for $3.465 million ($61,625 per unit) in Tucson recently in four transactions.

California-based, Brad Land Investors, LLC and The Martin and Stacey Cohan Trust bought an 8-unit student housing building at 317 N Vine Avenue in Tucson. The property is located next to the UA Campus and sold for $1 million ($125,000 per unit). All were two-bedrooms except one, a one-bedroom.  The seller was Bruce and Michelle Minkus of Tucson. Allan Mendelsberg, Principal and Multifamily Specialist with Cushman & Wakefield | PICOR, represented both parties in this transaction.

To learn more, see RED Comp #6817.

3525 E. Flower Street, Tucson, AZ

Marc Henry and Gaynelle Henry purchased a 12-unit apartment building located at 3525 E. Flower Street in Tucson.  The multifamily property was purchased from Rincon Flower Properties, LLC for $875,000 ($72,916 per unit).  Allan Mendelsberg, Principal, and Logan Nagel and Zach Stone, Multifamily Specialists with Cushman & Wakefield | PICOR, represented the seller in this transaction.  Alexandre Bensahel, with Marcus & Millichap Real Estate Investment Services, Los Angeles, represented the buyer.

To learn more, see RED Comp #6873.

KV Ironwood, LLC purchased Olive Street Apartments from KMS Enterprises, LLC for $640,000 ($40,000 per unit).  The16-unit, multifamily property is located at 201 E. Olive St. & 5261 S. Nogales Highway in Tucson.   Allan Mendelsberg, Principal and Multifamily Specialist with Cushman & Wakefield | PICOR, represented both parties in this transaction.

To learn more, see RED Comp #6801.

Gary and Vicktoria Weessies purchased three buildings at Roger Road Apartments from Brandon B. Matheson.  The multiple property transaction included three, 4-unit buildings located in Tucson:  220 W. Roger Rd. ($316,670), 234 W. Roger Rd. ($316,665), and 238 W. Roger Rd. ($316,665) or a total of $950,000  ($79,166 per unit).  Allan Mendelsberg, Principal, Logan Nagel and Zach Stone, Multifamily Specialists, with Cushman & Wakefield | PICOR, represented the seller in this transaction. Laura Grijalva with Grijalva Realty Corp., represented the buyer. 

To learn more, see RED Comp #6837.

For more information, Mendelsberg can be reached at 520.546.2721.