San Marin is a class “B” quality value-add apartment community, conveniently located 10 minutes south of Tucson’s growing downtown. This is a well-maintained garden-style, 176-unit apartment community, built in 1986.
San Marin features an extensive amenity package, including a clubhouse, fitness center, business center, swimming pool with spa, new covered playground, gazebo with barbeque grills and picnic areas. The property currently has 43 fully renovated units achieving on average $75 rent premiums.
This asset offers residents proximity to many restaurants, shops, employment and education opportunities, and close-by lifestyle conveniences. San Marin offers excellent street exposure on Park Avenue and Drexel Road, with a traffic count of 15,619 cars per day.
Investment and property overview: https://www.cooketeamsanmarin.com
Property shows great and has been well maintained
Extensive property amenity package, positioned perfectly for enhancement
Significantly below replacement cost
New financing available at historically low interest rates
Opportunity to fully upgrade unit interiors, common areas and exteriors to current market standards
Strong rent growth opportunity
Ideally positioned between I-10 and I-19 freeways, close to downtown, University of Arizona, healthcare and medical employment hubs, and retail centers
