Two Apartment Sales in Tucson Sold for $3.16 Million

TUCSON, ARIZONA (August 25, 2023) — Propeller Properties LLC purchased Halmark Apartments, a 9,024-square-foot investment property at 3130 E. 4th St. in Tucson for $2,310,000 ($192,500 per unit).

Built in 1978, the 12-unit apartment property sits on a .41-acre gated and secured parcel southeast of Country Club Road and 4^th Avenue with recent capital improvements and on-site laundry facilities.  The seller was AZBAHAY LLC.

The off-market transaction occurred on August 9, 2023.

Allan Mendelsberg and Joey Martinez, Principals and Multifamily Specialists with Cushman & Wakefield | PICOR represented both parties.

In another transaction, Nido 3, LLC, an affiliate of Nido Real Estate Investments of Playa Del Rey, CA., purchased Mission Apartments, a 12,432-square-foot investment property at 8908-8936 S. Nogales Hwy in Tucson—all two-bedroom / one bath units.

Built in 1963, the 14-unit apartment complex was purchased from Missions Enterprises AZ LLC for $850,000 ($60,714 per unit) and is located off Nogales Hwy and Aerospace Pkwy, near Raytheon and Tucson International. The property was a value-add opportunity with pool and on-site laundry facilities.

The brokers reported that eight offers were received in the two-week marketing period before closing on August 14, 2023.

Allan Mendelsberg and Joey Martinez, Principals and Multifamily Specialists with Cushman & Wakefield | PICOR represented both parties.

For more information, Mendelsberg and Martinez should be reached at 520.546.2730.

To learn more, see RED Comps #10837 and #10843.