Tucson's El Dorado Terrace Apts. sell for $1.1M

Tucson’s multifamily housing industry continues to draw strong investment.

Arizona investors have bought El Dorado Terrace Apartments, a 20-unit complex on Tucson’s east side.

Built in 1978, the single-story community at 6224 E. Fairmount St. sold for $1.1 million. The complex is near Wilmot Road, between Speedway and Pima Street.

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“El Dorado Terrace Apartments is a well-maintained asset,” said Lance Parsons, senior vice president of ABI Multifamily, which brokered the sale. “This unique single-story property attracted much investor attention due to its location and unique design aesthetic, which provide tenants with their own fenced-in yards and covered parking.”

Other recent commercial transactions include:

• Adelfos Casa Grande LLC bought a 52-unit apartment building at 5950 S. Park Ave. from RM JAK Properties LLLP for $1.4 million. Allan Mendelsberg, with Picor, represented both parties.
• Wildflower Apartments LLC bought a 28-unit complex at 2850 N. Alvernon Way from Paul A. and Katherine C. Zimmer for $1.1 million. Picor’s Allan Mendelsberg represented the seller, and Tony Reed, with Long Realty Co., represented the buyer.
• 6303 Tanque Verde LLC bought a 30,588 square-foot building at 6303 E. Tanque Verde Road from Brinton Investments LLC for $1.7 million. Michael Gross, of Tucson Realty & Trust Co., represented the seller and broker; John Weaver represented the buyer.
• Tucson 2001 LLC bought a 19,800-square-foot industrial warehouse at 2001 N. Ninth Ave. from Winroc Circle 2003 LLC for $1.1 million. Rob Glaser, with Picor, handled the transaction.
• Calvary Chapel Midtown Inc. bought an 11,178-square-foot building at 3618 E. Pima St. from Arizona’s Children Association for $525,000. Brandon Rodgers, with Picor, represented the buyer, and CBRE’s Jesse Blum represented the seller.
• TMCOne leased 7,202 square feet at 70 N. Harrison Road to open a clinic. The landlord is Rain Scott Investments LLC. Rick Kleiner, with Picor, represented the tenant.
• Next Step Advisors LLC leased 1,550 square feet at 550 W. Ina Road from Beemz LLC. Isaac Figueroa, with Picor, handled the transaction.
• Gila Electronics of Yuma Inc. leased 1,500 square feet in Butterfield Center, 4585 S. Palo Verde Road, from Presson Equity Partners LLP. Picor’s Rob Glaser handled the transaction.
• AccentCare at Home Inc. leased 1,480 square feet at 5151 E. Broadway from KCI-Broadway LLC, Scott Seldin-Broadway LLC, Belmont-Broadway LLC and Tucson 5151 Investments LLC. Brandon Rodgers, with Picor, represented the tenant, and Sandra Alter, with Rein & Grossoehme Commercial Real Estate, represented the landlord.
• Edmund Optics Worldwide leased 8,000 square feet in the Wilmot Professional Plaza, on Wilmot Road near Grant Road. Andy Seleznov and Melissa Lal represented the landlord, Larsen Baker.
• AJ Jiang Hong Kong Desserts leased a 1,423 square feet at The Tucson Place Shopping Center, on the northwest corner of Wetmore Road and First Avenue. Andy Seleznov and Melissa Lal represented the landlord, Larsen Baker, and Dave Blanchette, of CBRE, represented the tenant.
• Cappy’s Diner leased 1,400 square feet at the Prince & Fairview Plaza, on the southwest corner of Prince Road and Fairview Avenue. Andy Seleznov and Melissa Lal represented the landlord, Larsen Baker.