Bella Vista Townhomes | 3201 East Seneca Street, Tucson, AZ 85716 | 176 Units | $13,600,000 | $77,273 Per Unit | $95.95 Per SF
FOR IMMEDIATE RELEASE
Company Website: www.ABImultifamily.com
Phoenix, AZ (December 23, 2020) - ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western U.S., is proud to announce the $13,600,000 / $77,273 per Unit / $95.95 per SF sale of Bella Vista Townhomes, a 176-unit property in Tucson, AZ.
Built in 1972, Bella Vista Townhomes features an attractive mix of 40 one-bedroom units, 128 two-bedroom townhome-style units and 8 three-bedroom townhome-style units with large private patios in select units. Each unit is master metered for heating and cooling. Community amenities include leasing office, business center, three laundry facilities, dog park, children’s playground, basketball court, pool and barbecue areas.
Bella Vista Townhomes is situated just a short drive from the city's primary employer and economic driver, The University of Arizona. The townhome community is also located near numerous shopping, dining, and entertainment options such as a Whole Foods Market, the Tucson Botanical Gardens, Reid Park Zoo, Randolph Dell Urich Golf Course and the El Con Shopping Center.
Alon Shnitzer, Senior Managing Partner at ABI who represented the buyer and seller states, "Bella Vista presented the buyer with a value-add opportunity to improve on unit interiors and common areas. In addition to the value-add component, the uniqueness of this property with a majority offering of townhome-style units drew in lots of interest during the marketing process.”
Ryan Kippes, Vice President at ABI who also represented the buyer and seller added, "The property features a prime location being so close to the University of Arizona, one of the largest universities in the nation, in addition to Sam Fox’s The Yard dining complex less than a mile away. All of this being in a market currently witnessing very high occupancy rates."
ABI Multifamily’s Alon Shnitzer, Ryan Kippes, John Kobierowski, Rue Bax, Doug Lazovick and Eddie Chang represented the buyer and seller.
The buyer, APT Capital Group, led by managing partners Kyle Mitchell and Gary Lipsky, is based in California. The seller, The Wolcott Group LLC, is a private investment group based in Illinois.
ABI Multifamily (http://www.abimultifamily.com/) is a brokerage and advisory services firm that focuses exclusively on apartment investment transactions. With offices in Phoenix, Tucson, Sacramento and San Diego, the experienced advisors at ABI Multifamily have completed billions of dollars in sales and thousands of individual multifamily transactions. ABI Multifamily incorporates a global approach with regional real estate expertise to successfully complete any multifamily transaction, regardless of size and complexity.