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Riverside Suites, Tucson Multifamily Property, Sold For $5.1M To Riverside Apts LLC
SOLD
$5,100,000
Arizona
See Similar DealsMultiFamily28,952 SF
Sold 01/29/2024
SOLD
Riverside Suites, Tucson Multifamily Property, Sold For $5.1M To Riverside Apts LLC
1725 East Limberlost Drive
See Similar DealsMultiFamily28,952 SF
Sold 01/29/2024
Summary
ARIZONA
Asset Type:MultiFamily
Price Per Square Foot:$176
Total Square Footage:28,952 SF
Transaction Type:Sale
Riverside Suites, a multifamily property located at 1725 East Limberlost Drive in Tucson, AZ, has been sold for $5.1 million. The property spans a total area of 28,952 square feet, resulting in a price per square foot of $176.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $5,100,000
- Address: 1725 East Limberlost Drive, Tucson, AZ
- Market: Tucson, AZ
- Brokers: Allan Mendelsberg & Joey Martinez - Cushman & Wakefield
Cushman & Wakefield | PICOR acted as the intermediary in the sale of Riverside Suites. The property was acquired by Riverside Apts LLC from Campbell 33 LLC.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$271,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,119.23
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,176.60
Annual Debt Service$290,119.22
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