Marcus & Millichap negotiated the sale of the 260-unit Columbus Village Apartments in Tucson, Ariz.
The transaction was valued at $13.3 million.
Columbus Village Apartments is located at 1502 S. Columbus Blvd. The low-density property was constructed in 1981 and has undergone more than $2 million in capital improvements since 2001. Community amenities include a playground, swimming pool, spa, covered parking and private patios/balconies.
The sale includes 257,140 rentable square feet on 9.27 acres. The unit mix consists of 130 two-bedroom and 130 three-bedroom apartments. The units range in size from 932 to 1,046 square feet.
A Phoenix-based private investor sold the property to a Southern California-based investment partnership.
Encino, Calif.-based Marcus & Millichap is a commercial real estate brokerage.
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