TUCSON, AZ (February 1, 2024) – Riverside Suites at 1725 E Limberlost Drive in Tucson sold this month for $5.15 million ($156,064 per unit / $177.88/ SF). The 33 units consist of (8) Studios, (8) 1-bedroom/1-bath, (16) 2-bedroom / 1-bath units, and (1) 3-bedroom/3-bath SFR.
Built in 1968 on 2.37 acres, the 28,952 square feet of rentable space was recently renovated and sold as a value-added opportunity.
Community amenities include a community building, fenced pool and hot tub, tennis court, fitness center, meeting room, artificial turf putting green, on-site office and laundry, and a BBQ and picnic area. The property also has a gated entrance, lush landscaping, and a private well for all water usage.
Allan Mendelsberg and Joey Martinez, Principals Multifamily Team at Cushman & Wakefield | PICOR, handled the transaction for the buyer, Riverside Apts., LLC, an affiliate of Highland Real Estate and represented the seller, Campbell 33, LLC, an affiliate of Pelican Management.
For more information, Mendelsberg should be reached at 520.546.2721, and Martinez can be contacted at 520.546.2730.
To learn more, see RED Comp #11112.