TUCSON, ARIZONA (May 12, 2023) The Castro Villas apartments at 3020-3028 N Castro Avenue in Tucson sold for $1.575 million ($92,647 per unit).
The 17 units in three single-story buildings were built in 1975 sit on a 36,000-square-foot lot in the Central submarket of Tucson, northeast of Blacklidge Dr. and Castro Ave for a total of 9,788 square feet.
Community amenities include a courtyard, laundry facilities, a Bar-b-Q grill, and a picnic area.
The units are all one-bedroom / one-bath with high-speed internet access, air conditioning, ceiling fans, hardwood and tile floors, an eat-in kitchen, a family room, and individual backyards and patios.
The asset was sold on April 27, 2023, at a 4.31% cap rate.
The seller, SNJLF 2, LLC, of Chandler, Steve Levenson, manager, was represented by Joe Boyle of Joseph Bernard Investment Real Estate in Phoenix.
The buyer, a Family Trust from Chandler, was represented by Joseph Chaplik of Joseph Bernard Investment Real Estate in Phoenix.
For more information, Chaplik and Boyle can be reached at 866.546.9390.
To learn more, see RED Comp #10645.