Palo Verde Terrace

TUCSON, ARIZONA — Joseph Bernard Investment Real Estate with offices in Oregon, Washington and Arizonaclosed on three apartment buildings in Tucson for a combined total of $4.85 million for 96-units ($50,521 per unit).

Palo Verde Terrace Apartments at 3493 E Lind Rd., Tucson, AZ 85716 sold for $2.35 million ($45,192 per unit). The 52-units sold to 5330 Bellevue Investments, LLC of Scottsdale, Arizona (Spencer Quale, member). Joe Boyle with Joseph Bernard Investment Real Estate represented the seller, Palo Verde by Bakerson, LLC of Phoenix. Joseph Chaplik with Joseph Bernard Investment Real Estate represented the buyer. This transaction closed April 26, 2019.

Bellevue Apartments

Bellevue Apartments at 5330, 5342 & 5348 E Bellevue St., Tucson, AZ 85712 sold for $1.55 million ($64,583 per unit). 5330 Bellevue Investments sold the 24-units to Bellevue One LLC & Bellevue Two LLC of Beaverton, Oregon (Kenneth Schnerch, manager). Joseph Chaplik with Joseph Bernard Investment Real Estate represented both the buyer and the seller in this transaction that closed April 24, 2019.

Sherwood Terrace

Sherwood Terrace Apartments at 114 E Mohave Rd., Tucson, AZ 85705 sold for $950,000 ($47,500 per unit). The 20-units sold to Clark H. & Kathryn A. Reed of Portland, Oregon. Joseph Chaplik with Joseph Bernard Investment Real Estate represented the buyers. Joe Boyle with Joseph Bernard Investment Real Estate represented the seller, Sherwood Terrace Apartments, LLC of Chandler, Arizona (The Levenson Family Trust). The transaction closed on April 25, 2019.

For more information, contact Boyle and Chaplik at 480.305.5600.

To learn more, see RED Comp #6746, #6747 and #6748.

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