TUCSON, Ariz., (August 12, 2025) – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research, and advisory services, announced today the sale of Bellevue 24, a 24-unit apartment property located in Tucson, Arizona. The asset sold for $2,455,000 ($102,292 per unit).
“The successful sale of Bellevue 24 to an established Tucson owner underscores the continued confidence in this growing market,” shared Hamid Panahi, senior managing director investments in Marcus & Millichap’s Phoenix office. “The transaction was executed seamlessly in collaboration with our Marcus & Millichap debt team, showcasing the strength of our integrated platform and our commitment to delivering value at every stage of the deal.”
Panahi, Clint Wadlund, Brian Thornton, and Darrell Moffitt, investment specialists in Marcus & Millichap’s Tucson office, had the exclusive listing to market the property on behalf of the seller, Bellevue One LLC. The buyer, Bellevue5330 LLC, was secured and represented by Panahi, Wadlund, Thornton, and Moffitt. Brad Cohen, associate director of capital markets with Marcus & Millichap’s Capital Corporation, helped achieve financing for this transaction.
Bellevue 24, a well-maintained, single-story multifamily property comprising 24 units, is located at 5330 East Bellevue Street in the high-demand Tucson submarket. Built in two phases, 1963 and 1966, the property features an attractive unit mix of studio, one-, two-, and three-bedroom layouts, appealing to a broad tenant base. Select units feature a washer and dryer.