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IPM Investments Acquires Multifamily Portfolio And Development Site In Tucson For $16M
SOLD
$16,000,000
Arizona
See Similar DealsMultiFamily
Sold 08/15/2025
SOLD
IPM Investments Acquires Multifamily Portfolio And Development Site In Tucson For $16M
5201 East 2nd Street & 3660 East 3rd Street
See Similar DealsMultiFamily
Sold 08/15/2025
Summary
ARIZONA
Asset Type:MultiFamily
Transaction Type:Sale
A multifamily portfolio consisting of 295 units and a 2.8-acre development site was sold in Tucson, AZ. The transaction occurred at a sale price of $16,000,000, reflecting a price per unit of $54,237. The properties are located at 5201 East 2nd Street and 3660 East 3rd Street.
Summary of transaction details:
- Property Type: Multifamily & Development Site
- Transaction Amount: $16,000,000
- Buyer: IPM Investments
- Seller: Desert Ventures LLC
- Broker: Jeff Casper - CBRE
- Units: 295
- Price Per Unit: $54,237
Jeff Casper represented the seller, Desert Ventures LLC, during the transaction and facilitated the deal on their behalf.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$853,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$56,844.63
Cash-on-Cash Return-1.27%
Monthly Debt Service$75,848.16
Annual Debt Service$910,177.95
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