July Multifamily Sales By Tucson Submarkets

The following sales were compiled from public record during July 2013 for Central, Northeast, and Southern submarkets. They have not been confirmed and are published for informational purposes only.

CENTRAL SUBMARKET

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[mepr-show rules=”58038″]3-Units at 751 E Blacklidge Dr, Tucson, AZ 85719 sold for $210,000 ($70,000 per unit). Seller was Mark Spires of Tucson and the investor was Lori Budimir of Tucson. The three units all 2-bedrooms are in a 2,606 sq. ft. building (built 1980) fully leased at time of sale, on .23 acre. Rachel Balls of Long Realty represented the seller and John Powell of Help-U-Sell Galleria Realty represented the investor.

A duplex at 1109-1111 E Mitchell Street, Tucson AZ 85719 sold for $167,000 ($83,500 per unit). Seller was Agnes Leibreich of France and the investors were Rachel & Lucinda Smedley of Tucson. The 1,440 sq. ft. building has two 2-bedroom units (built 1984) on .16 acre. Alexandra Berger of Keller Williams represented the seller and Brent VanKoevering of Long Realty represented the investors.

An SFR and guest house at 2917 E Alta Vista Street, Tucson, AZ 85716 sold for $115,000. Seller was Desert Property Ventures, LLC of Rocklin, CA and investor was UR Investments, LLC of Tucson. The two buildings total 3,339 sq. ft. (built 1961) of masonry construction on .27 acre. Alex Mastrangelo of Habitation Realty represented the seller and Vikas Pawa of Top Gun Realty represented the investor.

A duplex at 5005-5007 East First St, Tucson, AZ 85711 sold for $95,000 ($47,500 per unit). Property was sold by Rita Gold of Tucson to investor, Jesse Butler. The 1-bedroom and 2-bedroom, 1,509 sq. ft. building (built 1952) on .12 acre was in good condition. Erica Hoffman of Keller Williams was listing agent and Maria Lawrence of Tierra Antigua represented the buyer.

A duplex at 313-315 E Alturas Street, Tucson, AZ 85705 sold for $80,500 ($40,250 per unit). Seller was Larry Paul of Tucson and investor was Jason Depizzon & Jennifer Lohse of Tucson. Both 2-bedroom units in 1,476 sq. ft. building on .18 acre. Stephen Marshall of Long Realty represented the seller and Don Eugene of Long Realty represented the investor.

Duplex sold at 2812-2814 N Castro Ave, Tucson, AZ 85705 for $75,000 ($37,500 per unit). The seller was Manuel and Diana Simoes of Tucson and the investor Isela Estrada of Tucson. The 1,643 sq. ft. building (built 1971) is on .16 acre.

Duplex at 2833 N Castro Ave, Tucson, AZ 85705 sold for $66,500 ($33,250 per unit). Seller was Parcelluzzi Family, LLC of Tucson and investor, George & Oldham of Tucson. Both two-bedroom units (built 1973) in a 1,074 sq. ft. building on .19 acre were leased at time of sale. Aaron Fisher of Tierra Antigua represented the seller and Camille Herbst of Coldwell Banker represented the investor.

NORTHEAST SUBMARKET
3-Units at 4327-4331 E Fairmount Street, Tucson, AZ 85712 sold for $333,750 ($111,250 per unit). The seller was CMMI, LLC of Irvine, CA and the buyer, Newton Investments, LLC of Tucson. The three units were individual condos, each 841 sq. ft. (built 1983).

3 Units at 2638 N Orchard Ave, Tucson, AZ 85712 sold for $189,000 ($63,000 per unit). The seller was Elmer and Barbara McLennan of Phoenix and the investor Mayo Gilman of Tucson. The property consists of two 1-bedroom units and a 2-story, 4-bedroom SFR (built 1981) on .22 acre. James and Steven Wendling of Keller Williams represented the seller and Eric Shaffer of Long Realty represented the buyer.

A duplex at 852-854 W Glenn Street, Tucson, AZ 85712 sold for $129,000 ($64,500 per unit). The seller was Dwayne Koval of Tucson and the buys Andrew and Cynthia Rubiner of Tucson. The 2,109 sq. ft. building (built 1979) consists of two 3-bedroom / 1.5 bath units. Sherese Steffens of Tierra Antigua Realty represented the seller and Dar Dobroslavic of Realty Executives represented the buyers.

SOUTH SUBMARKET
4-Units at 1249-1255 E Milton Road, Tucson, AZ 85706 sold for $70,000 ($17,500 per unit). The seller was RA Milton, LLC of West Hills, CA and the investor Jesus Lopez Zavia and Jesus Lopez Inzunza of Tucson. The 2-story, 3,480 sq. ft. building (built 1981) were all 2-bedroom / 1 bath. Listing agent was Marsee Wilhems of RE/Max Majestic and buyer was also selling agent, Jesus Lopez of Tierra Antigua.

5-Units at 135 W Oklahoma Street, Tucson, AZ 85714 sold for $57,500 ($11,500 per unit). The seller was Shalom Mennonite Fellowship of Tucson and the investor, Michele Olta of Tucson. The five units total 1,592 sq. ft. (built 1947) consisted of 4 studios and one two-bedroom unit on .16 acre. Edward Wagner of Wagner Property Services handled the transaction.

A duplex at 2317-2319 E Sunland Vista, Tucson, AZ 85713 sold for $37,500 ($18,750 per unit). The property was bank owned by US Bank, NA when it sold in this REO sale to Scott Alan Brittenham of Tucson. The 1,551 sq. ft. building was built 1952 and was vacant at time of sale.

CENTRAL SUBMARKET
3-Units at 751 E Blacklidge Dr, Tucson, AZ 85719 sold for $210,000 ($70,000 per unit). Sale date was 7/30/2013. Property was on the market for 9 days and sold with an NOI of 20,584 or a 9.8% cap rate.

A duplex at 1109-1111 E Mitchell Street, Tucson AZ 85719 sold for $167,000 ($83,500 per unit). Sale date was 7/2/2013. Property was on the market for 64 days and sold with an NOI of $13,265 or a 7.81% cap rate.

An SFR and guest house at 2917 E Alta Vista Street, Tucson, AZ 85716 sold for $115,000. Sale date was 7/31/2013. Property was on the market for 16 days. Cap rate not available.

A duplex at 5005-5007 East First St, Tucson, AZ 85711 sold for $95,000 ($47,500 per unit). NOI was $10,142 or 10.68% cap rate. Sale date was 7/30/2013. Property was on the market for 60 days.

A duplex at 313-315 E Alturas Street, Tucson, AZ 85705 sold for $80,500 ($40,250 per unit). Sale date was 8/2/2013. Property sold with deferred maintenance and was on the market for 4 days selling at a 13.19% cap rate.

Duplex at 2833 N Castro Ave, Tucson, AZ 85705 sold for $66,500 ($33,250 per unit). Sale date was 7/30/2013. Property was on the marker for 42 days and sold with an NOI of 7,981, or a 12% cap rate.

NORTHEAST SUBMARKET
3-Units at 4327-4331 E Fairmount Street, Tucson, AZ 85712 sold for $333,750 ($111,250 per unit). Sale date was 7/19/2013.

3 Units at 2638 N Orchard Ave, Tucson, AZ 85712 sold for $189,000 ($63,000 per unit). Property was on the market for 8 days and sold with an NOI of $28,620 or a 15.14% cap rate. Sale date was 7/30/2013.

A duplex at 852-854 W Glenn Street, Tucson, AZ 85712 sold for $129,000 ($64,500 per unit). Property was fully leased and on the market for 18 days when it sold with an NOI of $8,268, or a 6.4% cap rate.

SOUTH SUBMARKET
4-Units at 1249-1255 E Milton Road, Tucson, AZ 85706 sold for $70,000 ($17,500 per unit). Sale date was 7/2//2013. Property sold with an NOI of $22,070.

5-Units at 135 W Oklahoma Street, Tucson, AZ 85714 sold for $57,500 ($11,500 per unit). Sale date was 7/2/2013. Property was on the market 55 days and sold with an NOI of $11,792, or a 20.5% cap rate.

A duplex at 2317-2319 E Sunland Vista, Tucson, AZ 85713 sold for $37,500 ($18,750 per unit) was vacant at time of sale.[/mepr-show]