Updated Dec 4, 2024
2302 East Fort Lowell Owner LLC Acquires Wasko Modern Apartments In Tucson For $6.1M
2302 East Fort Lowell Road
$6,100,000
$201/SF
Building Size
30,280 SF
Asset Type
MultiFamily
Closing
Feb 26, 2024
About this deal
AI
The multifamily property located at 2302 East Fort Lowell Road in Tucson, AZ was sold for $6.1 million. Spanning 30,280 square feet, the asset was acquired by 2302 East Fort Lowell Owner LLC from the seller, Wasko Modern LLC. The sale was facilitated by brokers Allan Mendelsberg and Joey Martinez from Cushman & Wakefield, with a price per square foot of $201.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $6,100,000
- Address: 2302 East Fort Lowell Road
- Market: Tucson, AZ
- Square Footage: 30,280
- Seller: Wasko Modern LLC
- Buyer: 2302 East Fort Lowell Owner LLC
- Brokers: Allan Mendelsberg & Joey Martinez - Cushman & Wakefield
Cushman & Wakefield | PICOR played a vital role in the sale of the Wasko Modern Apartments in Tucson. Wasko Modern LLC successfully sold the multifamily property to 2302 East Fort Lowell Owner LLC for a significant amount, marking a notable transaction in the Tucson real estate market.
On the Map
$6,100,000
$201/SF
MultiFamily
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Players
Tucson MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.60%
Cash-on-Cash
-0.74%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93