TUCSON, Arizona – Westwood Apartments at 714 East 10th Street in Tucson sold for $1.32 million ($69,474 per unit) in a value-add transaction.
The 19-units in 15,668-square-feet on .42 acres were built in 1969 with a unit mix of two 1-bedroom, (16) 2-bedroom and (1) 3-bedroom units.
The buyer, Vishal Patel of Tucson, bought the property to renovate. The seller, James Hostetler, is also of Tucson. Hamid Panahi and James Crawley with Marcus & Millichap Real Estate Investment Services represented both buyer and seller in the transaction.
Crawley observed, “Westwood presents a tremendous opportunity with immediate value-add potential in a prime Downtown location that seldom sees multifamily communities come available.”
For more information, Panahi can be reached at 602.687.6649 and Crawly should be contacted at 602.687.6700.