• Tucson Value-Add Apartment Community - 2510 N Winstel Blvd, Tucson, AZ 85716

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Property Details

Georgetown Apartments is a two-story apartment community built in 1972, comprising 96 rental units. The unit mix is approximately 33 percent one-bedroom, 64 percent two-bedroom and 3 percent three-bedroom units. Georgetown is located at 2510 N. Winstel in Tucson, Arizona.


Visit our property website to view the offering memorandum. List price is $4.56 million, with a per unit price of $47,500. The price per square foot is $63.63.


Construction is of wood frame with painted stucco and wood siding exterior, and built-up roofs. Heating and cooling is provided by a commercial chiller and boiler two-pipe system. The utility costs associated with heating and cooling are the responsibility of the owner. The property is master-metered for electricity but individually-metered for electric plug-ins, and the costs associated with usage inside the dwelling units is fully reimbursed by the tenant. Hot water is provided by a commercial boiler.


The cost of water, sewer charges, and trash collection is the responsibility of the owner and partially reimbursed by the tenant. RUBS fees for one-, two- and three-bedroom units are $128, $158 and $180.


The property is situated one block north of Grant Road, immediately west of Alvernon Way, a major north-south thoroughfare running through Tucson. Several schools are located within a one mile radius of the property, including John B. Wright Elementary, Dodge Middle School and Catalina High School.


Numerous grocery store options are in proximity to Georgetown, including a Walmart Neighborhood Market and Fry’s one block south on Grant. Another Fry’s grocery store is east of the property at the intersection of Grant and Swan roads and a Costco is located at Grant and Wilmot Road. A Walgreen’s pharmacy is located east of the property on the northwest corner of Swan Road and Grant Road.

Cap Rate (stabilized): 7%
Strong value-add opportunity in a growing submarket
Diverse employment base, including education, manufacturing, healthcare, technology and retail
70% of the property is spacious two and three-bedroom townhome units with private patios
Positioned for near-term rental increases. Submarket asking rents increased 20% since 2012, and current one- and two-bedrooms rents at the property are $75 below comparable properties
One mile from Culinary Dropout at Grant Road Lumber Yard (Fox Restaurant Concepts, opening September 2017)
Three miles from University of Arizona, with over 43,000 students currently enrolled
Two miles from Whole Foods. Only two others in MSA—Oro Valley and Catalina Foothills
Grant Road on-ramp provides freeway access to Interstate-10, located approximately four miles west of the property
The Grand Cinemas Crossroads movie theatre and several restaurant options are within walking distance of the property, providing nearby entertainment options for tenants

  • Property Type
    Office
  • Submarket
  • Year Built
    1972
  • Total Acres
    1.65
  • Number of Floors
    2
  • Property ID
    1941015

Landlord's Leasing Representatives

  • Jesse Hudson
    Colliers | Phoenix
     
  • Bill Hahn
    Colliers | Phoenix
     
  • Jeffrey Sherman
    Colliers | Phoenix
     
  • Trevor Koskovich
    Colliers | Phoenix