5601 E 5th St
Tucson, AZ 85711
The Beverly on 5th · Multifamily Property For Sale · 35 Units

Annandale apartments is a two story garden style apartment property built in 1970 of block construction with flat roofs. The property consists of 35 studio, one, two and three bedroom units in eight buildings. There is a total of 34,600 SF of improvements on a 1.4 Acre site with a spacious average unit size of 973 SF. The two bedroom units are 1,056 and 1,275 SF and the three bedroom units are 1,475 SF. The property is individually metered for heat and air conditioning with common domestic hot water. A new energy efficient commercial grade hot water heater and storage tank have been installed in the past few years. Unit and property amenities include; large floor plans, individual HVAC units, full appliance package including dishwashers and ceiling fans, common area laundry, pool area and covered parking. Annandale is on a land lease with 25 years remaining. The yearly land lease is $36,000 and the rental rate is constant for the next 11 years. The holder of the land lease has shown a willingness to sell the lease at a market rate which would add value to the property for a purchaser. Annandale Apartments is located on 5th Street and Craycroft in the heart of central Tucson. The property is four miles away from The University of Arizona and lies between the major thoroughfares of Speedway Boulevard and Broadway Boulevard. With bus and bike paths, this apartment complex exceeds the expectations of residential living in central Tucson. Nearby retail shopping centers and employment centers include a variety of restaurant chains, automotive dealerships, and convenience stores located all along Speedway Blvd. With K-12 schooling located less than one mile from this complex makes Annandale Apartments an ideal place to raise a small family.