Long Realty Commercial Sells Multiple Ft. Lowell Apartments
James P. Robertson, Jr. of Long Realty Commercial Services in Tucson, Arizona along with John McClearly of Long Realty Company assisted The Purpus Trust, LLC, in the sale of 220 E. Ft. Lowell Ave. The final sales price was $450,000, $37,500 per unit, 8.1% CAP, Seller Carry Back, 20% down, 7% interest and due in 5 years. It was an as is sale. Buyer was represented by Greg Borccardo of Hoot Gibson Realty Company.
The Buyer anticipates doing a full renovation of the site. The location of the property is ideal for the Buyer’s due to the location of amenities and bus lines. The limited amount of entry level residential living space in North Central Tucson made it attractive to the Buyer “The ability of the Seller to carry the mortgage was the only way this deal was going to get done in this market”, stated James P. Robertson, Jr. of Long Commercial Services.
According to James P. Robertson, Jr. Senior Associate Broker of Long Commercial Services, “We are grateful to the Seller for being able to see the need for flexibility in this market.”
Share the post "Long Realty Commercial Sells Multiple Ft. Lowell Apartments"