Ocotillo Apts North & South on 29th 2 Multifamily Properties Offered at $20,000,000 in Tucson, AZ

Keller Williams Arizona Realty is pleased to offer exclusively for sale Ocotillo Apartments North & South, a 200-unit multifamily community ideally located in Central Tucson, providing residents with convenient access to Interstate 10, Downtown Tucson, and the city's major employment hubs.
Offered at an attractive price below replacement value, the property is a Value-add opportunity for a new owner, in continuing the ongoing unit renovations, as well as upgrading the property grounds, landscaping and pool area. There is also a large bonus building which works well as storage, a workshop, or maintenance headquarters.
4098 and 4141 E 29thStreet are directly across the street from each other, and function well as a single property, with efficiencies of operations, and a shared pool.
A new owner can continue the implementation of RUBS which has already begun, further increasing income.
Built in 1959, the property is comprised of 27 one-bedroom, 120 two-bedroom, and 53 three-bedroom apartment homes featuring updated interiors and private patios, yards, and/or balconies. Residents enjoy a full complement of community amenities, including a swimming pool with sundeck, sports court, playground, and expansive clubhouse.