Loma Vista Apartments 1634 N Beverly Ave 14 Unit Apartment Building $1,916,860 CAD ($136,919 CAD/Unit) 7.21% Cap Rate Tucson, AZ 85712

Loma Vista Apartments presents a value-add opportunity with a 14-unit complex located in Central Tucson. The well-maintained community offers strong potential for operational upside and long-term rental growth. Constructed with durable masonry, the property is surrounded by well-maintained grounds featuring a shaded walkway and ample parking.
Featuring (12) 1BD/1BAs and (2) 2BD/1BAs, investors can expect all units to be in similar condition with minor upgrades, including new paint throughout. The units feature tile flooring throughout, while all bathrooms include shower/tub combinations with modern finishes. Although the units maintain a vintage style, they are well-maintained and clean, providing an excellent opportunity for future renovations. This combination of existing condition and remaining value-add potential allows for a phased renovation strategy aligned with tenant turnover and budget planning. All but one of the units are cooled/heated via dual package air conditioning. Water/sewer/trash are master-metered, providing new ownership with the opportunity to implement a RUBS utility bill-back program.
The exterior of Loma Vista Apartments has benefited from several recent capital improvements, including a roof improvements, electrical panel upgrades, AC upgrades, and a newly refinished parking lot. These improvements enhance the property's overall functionality, curb appeal, and long-term investment potential.
Loma Vista Apartments offers tenants ample parking for residents and guests, along with a convenient on-site laundry facility that can be upgraded and brought back into operation, providing additional convenience for tenants and an opportunity for increased owner income.
Located just miles from TMC, Costco, and the new Miramonte Shopping Center, Loma Vista Apartments benefits from a central location with convenient access to shopping, employment, and entertainment. Consistent tenant demand, historically high occupancy, and current-market rents create immediate investment potential for new ownership.