Wildflower Apartments LLC of Nogales, AZ (George Wise, manager) bought the 28-unit apartments at 2850 N Alvernon Way in Tucson for $1.1 million ($39,286 per unit). The property was built in 1977 with 16,438-square-feet total rentable on .87 acres.
Wildflower Apartments is located east of Alvernon Way and Hayhurst Lane in central Tucson.
The unit mix consists of 20 one-bedroom units and eight two-bedrooms / one bath units. The property sold 93% occupied.
Amenities include on-site laundry facilities, patio / balconies, a pool and storage units.
The buyers were attracted to the property’s central location near shopping and employment opportunities. Nearby shopping includes a grocery anchored center less than a mile south of property and The Tucson Mall northwest of the property. The property is also less than 5 miles from the University of Arizona, University Medical Center, Tucson Medical Center, The Tucson Auto Mall and major retail employment along East Grant Road.
The immediate surroundings are primarily single family homes and other multifamily residence, despite being a major arterial road.
Allan Mendelsberg, Principal, Cushman & Wakefield | Picor of Tucson represented the seller, Paul Zimmer, an investor from San Diego, CA in the transaction and Tony Reed with Long Realty Company in Tucson represented the buyer.
For more information, Mendelsberg can be reached at 520.546.2721 and Reed should be contacted at 520-918-5189.
To learn more, see RED Comp #3819.