1634 N Beverly Ave - Apartments FOR SALE


Tucson, AZ 85712- Avalon
$1,375,000 USD
520-490-2113
1634 N Beverly Ave, Tucson, AZ for Sale
$1,375,000 USD
Apartments - FOR SALE
1/21
null | 7.21% Cap Rate

1634 N Beverly Ave
Tucson, AZ 85712
Avalon


HIGHLIGHTS

  • Value-add opportunity
  • Recent capital improvements
  • Below market rents
  • Tile flooring throughout
  • Air conditioning in all but one unit
  • Located near Tucson Medical Center

OVERVIEW

Loma Vista Apartments presents a value-add opportunity with a 14-unit complex located in Central Tucson. The well-maintained community offers strong potential for operational upside and long-term rental growth. Constructed with durable masonry, the property is surrounded by well-maintained grounds featuring a shaded walkway and ample parking. Featuring (12) 1BD/1BAs and (2) 2BD/1BAs, investors can expect all units to be in similar condition with minor upgrades, including new paint throughout. The units feature tile flooring throughout, while all bathrooms include shower/tub combinations with modern finishes. Although the units maintain a vintage style, they are well-maintained and clean, providing an excellent opportunity for future renovations. This combination of existing condition and remaining value-add potential allows for a phased renovation strategy aligned with tenant turnover and budget planning. All but one of the units are cooled/heated via dual package air conditioning. Water/sewer/trash are master-metered, providing new ownership with the opportunity to implement a RUBS utility bill-back program. The exterior of Loma Vista Apartments has benefited from several recent capital improvements, including a roof improvements, electrical panel upgrades, AC upgrades, and a newly refinished parking lot. These improvements enhance the property's overall functionality, curb appeal, and long-term investment potential. Loma Vista Apartments offers tenants ample parking for residents and guests, along with a convenient on-site laundry facility that can be upgraded and brought back into operation, providing additional convenience for tenants and an opportunity for increased owner income. Located just miles from TMC, Costco, and the new Miramonte Shopping Center, Loma Vista Apartments benefits from a central location with convenient access to shopping, employment, and entertainment. Consistent tenant demand, historically high occupancy, and current-market rents create immediate investment potential for new ownership.

FOR SALE DETAILS

PRICE

$1,375,000 USD

PRICE/SF

$189 USD /SF

# OF UNITS

14

PRICE/UNIT

$98,214

CAP RATE

7.21%

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Loma Vista Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1959

PARKING SPACES

16

LAND DETAILS

LAND ACRES

0.55 AC

LAND SF

23,958 SF

ZONING

C-1, Tucson

APN/PARCEL ID

121-12-399F

ASK ABOUT THIS PROPERTY

Allan MendelsbergCushman & Wakefield | PICORMore Info
520-490-2113

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Allan MendelsbergCushman & Wakefield | PICORMore Info
520-490-2113

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.