114 W Laguna St - Apartments FOR SALE


Tucson, AZ 85705
$3,950,000 USD
520-490-2113
114 W Laguna St, Tucson, AZ for Sale
$3,950,000 USD
Apartments - FOR SALE
1/15
null | 6.7% Cap Rate

114 W Laguna St
Tucson, AZ 85705


HIGHLIGHTS

  • Value-add opportunity
  • Operational upside
  • On-site laundry facility
  • Attractive unit mix w/ mostly 2BDs
  • Some upgraded units
  • Masonry construction

OVERVIEW

Commons at 114 presents a 39-unit value-add investment opportunity, offering both operational upside and significant long-term potential. With a diverse and attractive unit mix, the property is well-positioned to capitalize on strong tenant demand while providing multiple avenues for increasing cash flow. Its masonry construction, lush desert landscaping, and desirable community features create a solid foundation for strategic enhancements and rent growth. The unit mix consists of (8) Studios, (4) 1BD/1BA units, and (27) 2BD/1BA units. Select units have already been upgraded with vinyl flooring, modern white cabinets, and upgraded finishes, allowing for the potential for further enhancement. All units feature air conditioning, ensuring year-round comfort for tenants. Upon further renovations Commons at 114 has more potential to be at market rents. Additionally, some units offer patios and private assigned parking enhancing the property's appeal to tenants. Commons at 114 provides key community amenities designed for both tenant convenience and operational efficiency. The on-site laundry facility offers a valuable service and additional income, while the RUBS program for water, sewer, and trash helps optimize expenses. Each unit is individually metered for electricity and gas, allowing tenants to manage their own utility costs while reducing ownership expenses. With rents currently below market, investors have a clear opportunity to increase revenue through rental rate adjustments and targeted renovations. The combination of operational efficiencies, untapped rental upside, and a strong unit mix makes Commons at 114 an attractive investment for those looking to maximize returns. This well-located, income-generating asset offers an opportunity to acquire a property with strong fundamentals and ample room for growth. With strategic improvements, Laguna Terrace is set to deliver exceptional returns and long-term appreciation in an increasingly competitive market.

FOR SALE DETAILS

PRICE

$3,950,000 USD

PRICE/SF

$183 USD /SF

# OF UNITS

39

PRICE/UNIT

$101,282

CAP RATE

6.7%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Commons at 114

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1958

PARKING SPACES

25

LAND DETAILS

LAND ACRES

1.75 AC

LAND SF

76,230 SF

ZONING

O-3

APN/PARCEL ID

107-12-145B

ASK ABOUT THIS PROPERTY

Allan MendelsbergCushman & Wakefield | PICORMore Info
520-490-2113

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Allan MendelsbergCushman & Wakefield | PICORMore Info
520-490-2113

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.