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The following sales were compiled from public record during Q2 2013 for Northeast, East Valley and Southern submarkets. They have not been confirmed and are published for informational purposes only. See also https://realestatedaily-news.com/multifamily-sales-in-tucson-central-submarket-q2-2013/ for Central submarket.
NORTHEAST SUBMARKET
12-Units at 4411-4423 E Bellevue St, Tucson, AZ 85712 sold for[mepr-show rules="58038"]$254,000 ($21,166 per unit) Property was bank-owned by City National Bank at time of sale and sold to an investor, TZLC Investment Group of Warsaw, IN. All 2-bedrooms, 1,044 sq. ft. each (built 1952 and 1977) on .41 acres. NOI was $29,484 or 11.6% cap rate. Sale date was 6/17/2013.
Duplex at 4049 E Glenn St, Tucson, AZ 85712 sold for $115,000 ($57,500 per unit). Seller was Merle Schauer of Tucson and investor Eric Monnin of Tucson. Both two-bedroom units (built 1972) in a 1,652 sq. ft. building on .15 acre. Sale date was 4/1/2013.
3-Units at 2647 – 2651 N Columbus Blvd, Tucson, AZ 85712 sold for $70,000 ($23,333 per unit). Property was bank owned by National Bank of Arizona of Phoenix and investor was Solution Finders, LLC of Tucson (Sara Jess). The two buildings total 3,504 sq. ft. (built 1949) on .47 acre. Sale date was 5/17/2013.
Duplex at 2655 N Mountain Avenue, Tucson, AZ 85719 sold for $169,000 (84,500 per unit) located at the NWC of Circle Dr. & Mountain Ave. Seller was Donald & Jacqueline Fry Living Trust of Tucson and the investor was Louis Anthony & Madeleine Crespo of Tucson. The two units are in a 1,366 sq. ft. building (built 1962) on .15 acre. Sale date was 6/19/2013.
EAST VALLEY SUBMARKET
4-Units at 2010 S Montezuma Ave., Tucson, AZ 85711 sold for $165,000 ($41,250 per unit). The seller was D&G Southwest, LLC of Tucson and the investor Ricardo Fernandez of Tucson. The single story, 3,120 sq. ft. building (built 1978) on .21 acre. Sale date was 6/12/2013.
8-Units at 3700 S Old Spanish Trail, Tucson, AZ 85711 sold for $830,000 ($103,750 per unit). The seller was Saguaro Corners Rentals, Inc. of Tucson (Dale Calvert, President) and the investor El Cortijo, LLC of Tucson ( Kelley Matthews, member). The eight casitas total 7,507 sq. ft. (built 1958 & 1960) on 8.53 acres. Sale date was 6/7/2013.
Duplex at 939 – 941 N Benton Avenue, Tucson, AZ 85711 sold for $132,500 ($66,250 per unit). The seller was Carlos Zapata of Tucson and the investor was the Novak Family Trust (Raymond and Lizbeth Fogle Novak). The two units are in a 1,941 sq. ft. building (built 1947) on .31 acre. Sale date 4/5/2013.
Triplex at 5657 E Pima Street, Tucson, AZ 85712 sold for $103,000 ($34,33 per unit) at the NWC of Pima & Van Buren Ave. This was an REO sale, the seller was Federal National Mortgage Association c/o Green Tree Servicing, and the investor, POSCO PSP, LLC of Tucson (Ron Kessler, Manager). The three units are in a 2,765 sq. ft. building (built 1951) on .21 acre. Sale date was 6/26/2013.
Triplex at 2515 S Pantano Parkway, Tucson, AZ 85710 sold for $290,000 ($96,666 per unit). The seller was Joseph & Rylee Ryan of Tucson and the investor, The Andre Mate Trust of Tucson. The three units, two 2-bedroom/2 bath and one 1-bedroom/ ¾ bath are in a 3,150 sq.ft building (built 2009) on .23 acre. The seller is an agent and handled the transaction. Sale date was 6/25/2013.
SOUTHERN SUBMARKET
Duplex at 2001 S 3rd Avenue, Tucson, AZ 85713 sold for $75,077 ($37,539 per unit). The sellers were Tomas and Maria Guzman of Tucson and the investor was RNS Rentals, LLC of Tucson (Richard L Potter, member). The two units are in a 1,565 sq. ft. building (built 1972) on .17 acre. Sale date was 5/20/2013.
4 Units at 5750 S Morris Blvd., Tucson, AZ 85706 sold for $120,000 ($30,000 per unit). The seller was the Parcelluzzi Family, LLC of Tucson and the investor was 5750 S Morris, LLC of Tucson (Scott Brittenham, member). The four units are in two buildings, 1,104 sq. ft. and 1,440 sq. ft. (built 1950) on .43 acre. Sale date was 5/3/2013.
Duplex at 2737 N Incas Place, Tucson, AZ 85705 sold for $135,000 ($67,500 per unit). The seller was Davmar Properties, LLC of Tucson (Margo & David Tetrault) and the investor was Suzanne Seay of Tucson. The total living area is 1,260 sq. ft. (built 2006) on .17 acre. Sale date was 5/15/2013.
12-Space RV Park with 12 hookups sold at 10172 S Nogales Hwy, Tucson, AZ 85706 for $185,000 ($15,500 per space). The seller was Connie J Miller and the Connie J Miller Trust of Tucson the investor was A. Cortiz Capital Investment & Management Company of Tucson. The property has no buildings and is on .84 acre RV site, built in 1999. Sale date was 5/29/2013.[/mepr-show]