INDI Tucson | 1920 North 1st Avenue, Tucson, AZ 85719 | 93 Units | $8,050,000 | $86,559 Per Unit
PRESS RELEASE
FOR IMMEDIATE RELEASE
Contact:
Corporate Headquarters
ABI Multifamily
Phone: 602.714.1400
Company Website: www.ABImultifamily.com
Phoenix, AZ. (February 26, 2021) – ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western US, is pleased to announce the $8,050,000 / $86,559 Per Unit sale of INDI Tucson, a 93-unit community located in Tucson, Arizona.
Originally built in 1972, INDI Tucson is a 93-unit garden-style community with an attractive mix of one-, two-, three-, and four-bedroom units. The property is arranged in 4 two-story buildings with wood frame construction, stucco exterior finishes and flat roofing situated on approximately 2.92 acres of land. Common area amenities include: Two swimming pools, spa, four on-site laundry facilities, fitness center, and outdoor lounge with firepits.
The property is situated six blocks and a five-minute drive away from the University of Arizona main campus. With fall 2020 enrollment numbers approximating 47,000 students and a goal 64,000 Students by 2025, the University of Arizona is one of the city’s primary economic drivers and employers. INDI Tucson is also located near numerous shopping, dining, and entertainment options such as Tucson Mall, Downtown Tucson, and Sam Fox’s The Yard dining complex
ABI Multifamily's Alon Shnitzer, Rue Bax, John Kobierowski, Doug Lazovick, and Eddie Chang represented the buyer and seller in this transaction.
The buyer, APT Capital Group, led by managing partners Kyle Mitchell and Gary Lipsky, is based in California.
The seller is a private investment group based in California.
ABI Multifamily (http://www.abimultifamily.com/) is a brokerage and advisory services firm that focuses exclusively on apartment investment transactions. With offices in Phoenix, Tucson, Sacramento, 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.