Legacy Apartments at Dove Mountain Sells for $34 Million

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MARANA ARIZONA – Legacy Apartments at Dove Mountain sold for $34 million ($202,400 per unit) on September 14, 2020 to a Utah group of investors. The 168-unit luxury complex, located off Twin Peaks and Tangerine Roads at 12100 N Mountain Centre Road in Marana, was 96% occupied when it closed

The recipient of the 2011 Gold Award for Best Multi-family Home Development by the Professional Builders Design Association, the stunning, pet friendly apartment community is nestled in the charming Tortolita Mountains and unobstructed views of the Catalina Mountain range to the east, and the Tucson mountain ranges to the west. Amazing views of downtown Tucson city lights and the picturesque Santa Rita Mountains from its location in Dove Mountain.

Art and Cling Wadlund with Berkadia Real Estate Partners of Tucson handled the transaction for the Seattle-based seller, Legacy Apartments at Dove Mountain, LLC.

The seller owned the property since it was constructed in 2011. “It was in beautiful condition,” Clint Wadlund said. “The seller had taken exceptionally good care of the complex and it sold with no deferred maintenance. The buyer is also experienced in mult-family investments and owns other properties in the Tucson area.”

The unit mix comprises 64% one-bedrooms, 21% two-bedroom and 14% three-bedroom units.

The twelve two-story buildings have a clubhouse, covered parking, pool / spa, fitness center, business center, storage units, and garages rented separately in this gated community. Other amenities include 9 ft ceilings, all electric kitchen, beautiful landscaping, book exchange, breakfast bar, cable ready, community room with kitchen, copy and fax services, dog/human drinking fountain, mountain bikes available and movie library.

For more information, Art and Clint Wadlund should be reached at 520.529.9206.

To learn more, see RED Comp #8096.

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