Sycamore Cove

Address: 2458 N. Sycamore Blvd., Tucson, Arizona, US

Phoenix & Southwest + Apartments

Created date: September 13, 2023

Date last updated: September 13, 2023

Property Description

Sycamore Cove Apartments presents an appealing investment prospect within the realm of newly upgraded multifamily properties in Tucson. Compromising a total of 67 units, a substantial portion of which have undergone recent improvements, this property caters to investors seeking value-add potential. Under new management, Sycamore Cove has completed substantial

improvements, enhancing the overall living experience. The upgrades to the exterior include replacement of the roof, fencing improvements, amenity upgrades, and landscaping. Interior improvements include cabinets, flooring, paint, and bathroom fixture replacements.

Sycamore Cove's appeal extends beyond its recent upgrades with amenities such as BBQ grills, fenced dog park, covered picnic area, & a sparkling swimming pool. Tenants are responsible for their electric usage, reducing owner utility costs. The water, sewer, & trash usage is billed all together, but is efficiently managed through the RUBS program shifting most of the expense back to the tenants. The property's sturdy half- masonry construction assures peace and quiet, and ample parking spaces adds convenience for tenants. Tenants gain comfort knowing that the gated and secured entrance restricts unauthorized guests.

For additional convenience, on-site coin laundry facilities are available as well as a well-kept on-site office for efficient management of the asset. The strategic location near Tucson Medical Center and Costco captures a strong working resident base who can readily access in nearby entertainment options like the Campbell Shopping Plaza, Culinary Dropout, and Roadhouse Cinema.

For investors with a keen eye for prime locations of growth opportunity, Sycamore Cove Apartments offers an exceptional setting, located just a short ten minute drive from the University of Arizona and the Heirloom Farmers Market. This investment opportunity that leverages a strategic location, well-kept property, and convenient multifamily living. Don't miss the chance to capitalize on this promising venture.

❮ Previous Next ❯

Available

Request Information

Name

Phone

Message(optional)

Due Digilence Documents

Key Property Information

Listing Status:	Available
Listing Type:	Highest & best offer
Multifamily type:	Apartments \| Garden Style
Price:	$6,400,000
No. of Units:	67
Cap Rate:	6.5%
Average Occupancy:	1
Year Built:	1979
Building Size:	30,016 Sq ft
Lot Size:	1.86 Acres
No. of Stories:	2
Opportunity Zone:	No
Price per unit:	$95,522