AZ Big Media Mission Antigua Apartments in Tucson is selling for $59M
ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western US, announced the $59,000,000 / $237,903 Per Unit / $287.92 Per SF sale of Mission Antigua Apartments, a 248-unit multifamily apartment community located at 5525 South Mission Road, Tucson, AZ 85746. ABI Multifamily’s Phoenix-based Institutional Apartment Group – Alon Shnitzer, Rue Bax, Eddie Chang, and Doug Lazovick, in collaboration with ABI Multifamily’s Tucson Apartment Team – Desiree Palmer and Ryan Kippes, represented the buyer and seller in this transaction.
The buyer and seller are based in California.
Mission Antigua Apartments is a 248-unit, garden-style apartment community located in Tucson, AZ. Prominently situated on South Mission Road just north of Drexel Road, both of which are major arterials, residents enjoy direct access to all areas of Tucson by way of Interstate-10, Interstate-19, Highway 86 (West Ajo Way), and Tucson International Airport. In addition, a multitude of neighborhood conveniences and services are located nearby such as Walmart Supercenter, Fry’s Food and Drug, Walgreens, Lowe’s Home Improvement, Wells Fargo Bank, and Safeway. Furthermore, numerous area dining and entertainment options are less than a 10-minute drive at the Tucson Spectrum, one of the most popular shopping destinations in the metro area with approximately 968,000 square feet of retail space anchored by a Harkins Movie Theater.
Completed in 1989, Mission Antigua Apartments is constructed of wood frame and stucco with pitched tile roofs. The property features an attractive unit mix, which consists of 80 one-bedroom / one-bathroom units, 120 two-bedroom / two-bathroom units, and 48 three-bedroom / two-bathroom units. Each unit is individually metered for electricity with individual hot water heaters. All three-bedroom units feature washer / dryer appliances and all two-bedroom units offer washer / dryer connections. Unit interiors feature air conditioning, balcony/patio, ceiling fans, oversized closets, and kitchens equipped with a dishwasher, garbage disposal, range/oven, and refrigerator. Select units offer a fireplace, and vaulted ceilings. The community also provides its residents with a swimming pool, spa, clubhouse, fitness center, gated / controlled access, laundry facility, ramadas, and barbecue grills.
Significant employers in proximity to the property include the Tucson International Airport, Raytheon, and Davis-Monthan Air Force Base.
ABI Multifamily (https://www.abimultifamily.com/) is a brokerage and advisory services firm that focuses exclusively on apartment investment transactions. With offices in Phoenix, Tucson, 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.