Ideally located in North Tucson, Limberlost Studios presents a value-add opportunity consisting of 36 studio units. The property’s upside comes from being able to upgrade the units to reach higher rents, which can be attainable through interior renovations and aggressive leasing and marketing efforts.
The units at the subject asset all include open layouts and more classic clean finishes. There are currently 2 units with upgraded flooring (vinyl), cabinets, appliances, and a combo washer/dryer unit installed. For all units, tenants can also enjoy wall-mounted ACs, large walk in-closets and masonry walls for noise reduction. The opportunity new owners have is to renovate the units with modern and up to date finishes, new paint, countertops, and modern vinyl flooring. Allowing the property to have modern trends will keep up with current market trends and keep tenants satisfied and retained. Beneficial to investors, the property is individually metered while Water/Sewer/Trash are master metered and paid for by Owner. For the W/S/T utilities - a RUBs bill-back system is in usage, shifting the expense back to tenants.
The community’s-maintained surroundings is further enhanced by well-maintained walkways with lush desert plants large palm trees, and shade trees. The current amenities include on-site laundry facility and on-site office. In addition, tenants can enjoy a well-maintained pool area for their enjoyment. The property also has ample parking for tenants and their guest.
Well located in North Tucson, Limberlost studios is within 1 mile of the Tucson Mall and ample entertainment and dining options. Also located within miles of Downtown Tucson, U of A, and Pima community college, Limberlost Studios is in an ideal location for the working class and growing young professionals of central Tucson. Residents benefit from convenient access to growing retail spaces, providing an array of shopping, dining, and entertainment options.