This Multifamily Property is Off-Market.

133 E. Glenn St. & 2621 N. Estrella Ave.
Tucson, AZ 85705 ·

36 Units · Multifamily For Sale

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GlennStar & Stonewood

Price N/A Property Use Type Investment
No. Units 36 No. Stories 2
Building Size 42,700 SF Year Built 1999
Property Type Multifamily Lot Size 2.47 AC
Property Sub-type Garden/Low-Rise APN / Parcel ID 107-21-3500+
Listing ID: 18372824 Date Created: 09/25/2013 Last Updated: 10/14/2014

Description

GlennStar is a two-story apartment community built in 1999, comprising 12 rental units. The unit mix is approximately 67% three-bedroom and 33% four-bedroom units. Stonewood is a two-story apartment community built in 2001, comprising 24 rental units. The unit mix consists entirely of four-bedroom units. Both properties are constructed of wood and painted stucco, with pitched composition shingle roofs. GlennStar has 33 uncovered parking spaces and Stonewood has 83 uncovered parking spaces. Units feature polished concrete floors, washers/dryers, garbage disposals and dishwashers. Both properties have private fenced yards. GlennStar and Stonewood are one block apart in distance. Renting the units per room will greatly increase rental potential and mitigate operating costs. A separate leasing office is located at GlennStar and is used for both properties.

Heating and cooling are provided by individual ground-mounted air conditioning units. The utility costs associated with heating and cooling are the responsibility of the tenant. The properties are individually-metered for electricity, and the costs associated with usage inside the dwelling units are paid by the tenants.

GlennStar Apartments is located at 133 East Glenn Street in Tucson, Arizona. The property has wide frontage along Glenn Street, a neighborhood east-west thoroughfare. Stonewood Apartments is located at 2621 North Estrella Avenue. The property is located just east of Stone Avenue, a major north-south thoroughfare running through Tucson, Arizona. Stonewood is situated one block southeast of GlennStar.

Tenants of GlennStar and Stonewood are conveniently located two miles north of the University of Arizona. The subject properties were initially built for student housing. Improving the common areas of the properties and a marketing campaign geared to students will drive this as a successful repositioning effort.

GlennStar and Stonewood are in proximity to several educational institutions, retail centers, and hospitals. A Fry' s Food-anchored neighborhood shopping center is located one mile south of the subject properties. An abundance of employment generators and retailers can be found three miles north of the properties off of Oracle Road, including Target, Home Depot, Lowe' s, Sport' s Authority and CVS Pharmacy. Car dealerships, and restaurants are three miles north.

Highlights

  • Please visit the team website to execute the confidentiality agreement for a full marketing package
  • Newer construction
  • Purpose built student housing
  • Good unit mix - large three and four bedroom units
  • Washer/Dryer in select units
  • Two miles north of University of Arizona

Research

133 E. Glenn St. & 2621 N. Estrella Ave., Tucson, AZ 85705 (Pima County)

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