Garden Park Apartments in Tucson Sells with Economies of Scale in mind

The Garden Park Apartments at 201 E Yavapai Road in Tucson has sold commanding a sale price of $1.483 million ($21,810 per unit). The buyer, Equilibrium Garden Park, LLC (Sofonias Astatke, manager) of Washington, DC also owns the property directly to the north and was motivated in the purchase for economies of scale running both properties together.

The 68-unit apartment complex in four 2-story buildings is located in the 85705 zip code in Tucson’s central submarket, central to everything, the UofA, medical facilities, minutes from downtown and the Community Center.

Built in 1982, the property is comprised of Junior 1-bedrooms, Deluxe 1-bedrooms and 2-bedroom/ 1 bath units and was 83% occupied at time of sale. Features and amenities include all electric apartments, onsite laundry, pool and spa, basketball court, volleyball court, barbeque and on site management and 24-hour emergency maintenance, offering lease terms of 6, 9 and 12 months.

Garden Park Apartments is a proud member of the Amphitheater Neighborhood and a member of the Amphi Community Action Group. A Tucson Police Department Drug/Crime-Free Certified property since 1997, Garden Park does its part to keep illegal activity out of our community for the benefit of our residents and neighborhood at large. Management’s emphasis to maintain the property as “Quiet, Clean, Green” reflects its laser-like focus on providing the best possible living experience for our residents.

Garden Park Apartments has bus access but receives a walk score of 58.

The transaction was brokered by Bob Kaplan while at Cushman & Wakefield | Picor of Tucson. Kaplan represented the buyer and the seller, CIMA I Partners, LLC of Incline Village, CA.

Kaplan is now with Marcus & Millichap Real Estate Investment Services of Denver, CO and can be reached at 520.271.2304 to learn more.