Oasis Apartments I, II & III Sell for $2.41 Million in Tucson

320-332 E Yavapai Rd
Oasis I & II Apartments, 320-332 E Yavapai Rd, Tucson, AZ

Oasis I & II, located at 320-332 East Yavapai Road in Tucson and Oasis III at 300-306 East Navajo Road in Tucson sold for a combined total of $2.41 million ($19,127 per unit). The 66-units at 300-306 E Navajo sold for $1.26 million ($19,090 per unit) and the 60-units at 320-332 E Yavapai sold for $1.15 million ($19,167 per unit).

Ennabe Properties of Los Angeles, CA (Fares Ennabe, President) was the investor.

300 -306 East Navajo Road
Oasis III Apartments, 300-306 E Navajo Rd, Tucson, AZ

Oasis I, II & III are all three-story apartment buildings built in 1994, comprising 126 rental units. The unit mix is approximately 60% one-bedroom and 40% three-bedroom units. Construction is of wood, with built-up roofs. Heating and cooling is provided by individual roof-mounted air conditioning units. The utility costs associated with heating and cooling are the responsibility of the owner. The property is individually-metered for electricity, and the costs associated with usage inside the dwelling units are the responsibility of the owner. Hot water is provided by individual water heaters. The cost of water, sewer charges, and trash collection is the responsibility of the owner. The property has on-site laundry facilities available for tenants and includes 68 uncovered parking spaces.

The properties are situated in Central Tucson within a few blocks of each other. There are several schools within one mile of both properties including Helen Keeling Elementary School, Tucson Preparatory School, and Amphitheater Middle School.

The buildings of Oasis are constructed on rectangular sites comprising approximately two 1.64 acres, at a density of 36.53 units per acre.

Nearby grocery store options include Food City, less than one mile east of Oasis and Fry’ s situated at the intersection of 1st Avenue and Roger Road. The Interstate-10 Highway is accessible via the Prince Road on ramp, located less than three miles north-west of the property.

Nearby shopping malls include the Macy’ s and Dillard’ s-anchored Tucson Mall, located less than two miles north-west of the property, as well as the Shops on University located at University Boulevard and Park Avenue, three miles southeast of the property. Additionally, University of Arizona Medical Center is located on Speedway and Campbell. Nearby Junior Colleges include Pima Community College, located at Speedway and Cholla Boulevard. University of Arizona (enrollment: 40,223 students) is minutes away from Oasis.

Jim Hill with Real Living S.J. Fowler Real Estate in Phoenix handled the sale that closed in four separate transactions for buyer and seller.

For additional information, Hill can be contacted at 602.264.8400.

To learn more, see RED Comp #3726 and #3603.

75-Unit Bulk Condo Sale at Loma Bonita, Phoenix Sells For $2.6M

Loma Bonita2AHO, LLC, a local investor, purchased 75 of 92 units within the community of Loma Bonita aka Mountain View Manor at 1301 East Mountain View Road in Phoenix for $2.6 million ($34,750 per unit). The 75 units sold as a package (bulk condos) at Loma Bonita, a 92-unit garden-style condominium community.

Built in 1984 and renovated for conversion in 2007. Loma Bonita offers spacious two-bedroom / one-bath condos of approximately 800 square feet in North Central Phoenix. Amenities include: Stainless Steel Appliances, In-Suite Washer/Dryer, Updated Kitchens and Bathrooms, Gated Community Pool, Dramatic Mountain Views (some units), Large Closets/Storage, Private Balconies/Patios and Two Laundry Facilities. Loma Bonita is located with frontage on Mountain View Road, situated among a quiet residential neighborhood surrounded by single-family homes, in the foothills of the Phoenix Mountains, adjacent to prestigious Squaw Peak in North Central Phoenix.

The property enjoys easy access to the SR-51 Freeway, 7th Street and Cave Creek Road all major North/South thoroughfares. In addition, the property is within proximity to the Pointe Golf Club at Lookout Mountain where homes are valued at over $1 million. Major employers in the area include John C. Lincoln North Mountain Hospital, PING, Inc., Southwest Gas, Arizona Christian University, Goodwill of Central Arizona, Arizona Army National Guard, Pointe Hilton Tapatio Cliffs Resort and Pointe Hilton Squaw Peak Resort.

The seller consisted of 18 separate owners, the majority of whom had previously taken title through foreclosure. Natan Jacobs and Les Litwin Principals with the Vestis Group in Phoenix represented the sellers in the sale. Jim Hill with Real Living S.J. Fowler Real Estate in Phoenix represented the Buyer.

Jacobs and Litwin should be contacted at (602) 387-5330. Hill can be reached at (602) 264-8400.