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Subto Fund LLC Acquires Tucson Multifamily Property For $1.8M

Property Image
SOLD
$1,800,000
Allan Mendelsberg
Joey Martinez

Arizona

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MultiFamily
Sold 04/08/2024
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Property Image
SOLD

Subto Fund LLC Acquires Tucson Multifamily Property For $1.8M

4424 East Bellevue Street

See Similar Deals
MultiFamily
Sold 04/08/2024
Allan Mendelsberg
Joey Martinez
the dealplayerscompscontact
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Summary

ARIZONA
Asset Type:MultiFamily
Transaction Type:Sale

Coronado Vistas, a multifamily property located at 4424 East Bellevue Street in Tucson, AZ, has been purchased by Subto Fund LLC from Bellevue 21 LLC for $1.8 million. The property consists of 21 apartments, with an average price per unit of $85,714.

Summary of transation details:

  • Property Type: Multifamily
  • Transaction Amount: $1,800,000
  • Units: 21
  • Price Per Unit: $85,714
  • Address: 4424 East Bellevue Street, Tucson, AZ
  • Market: Tucson, AZ

Allan Mendelsberg and Joey Martinez from Cushman & Wakefield | PICOR acted as the representing brokers for both the buyer, Subto Fund LLC, and the seller, Bellevue 21 LLC, in the transaction.

Players

Allan Mendelsberg
Cushman & Wakefield
Allan Mendelsberg
9 deals$29.3M volume
BROKER
Joey Martinez
Cushman & Wakefield
Joey Martinez
9 deals$27.7M volume(520) 546-2730
BROKER

Details

SOLD
IMAGE: 04/08/2024 ADDRESS: 4424 East Bellevue Street MARKET: Tucson, AZ ASSET TYPE: Multifamily BUYER: Subto Fund LLC SELLER: Bellevue 21 LLC BROKERS: Allan Mendelsberg & Joey Martinez - Cushman & Wakefield SALE PRICE: $1,800,000 UNITS: 21 ~ PPU: $85,714 NOTE: Subto Fund LLC has acquired Coronado Vistas, a multifamily property in Tucson, from Bellevue 21 LLC for $1.8 million. Situated at 4424 E. Bellevue St., the community comprises 21 apartments, with representation provided by Allan Mendelsberg and Joey Martinez of Cushman & Wakefield | PICOR for both the buyer and seller.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$96,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$6,395.02
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,532.92
Annual Debt Service$102,395.02