350-001 70-411 MB2-700 400-101 MB2-702 70-410 MB2-703 200-120 70-461 C_TADM51_731 70-462 EX300 VCP-550 70-480 C_TAW12_731 70-484 70-498 70-646 98-361 98-366 A30-327 C_BOE_30 C_TSCM42_66 C2010-597 C2020-632 C2020-701 C2020-703 C2040-408 C2040-988 C2070-581 C2150-195 C2160-667 C2180-274 C4040-226 C4090-453 CAS-001 CSSLP C-TERP10-60 E20-018 E20-918 JN0-360 MSC-321 P2080-088 PC0-001 PEGACSA-v6.2 3I0-012 500-051 640-875 640-916 642-427 642-647 642-691 650-663 700-037 70-247

Ridgewood Gardens sells for $11.3 M in Tucson Arizona

Phoenix, Arizona –  May 21, 2020 – There is no stopping SVN Desert Commercial Advisor multifamily advisor, Danny Lee.  He has been a staple in the multifamily market for over a decade and continues to close transactions all over the valley.  He represented the buyer in the $11,3000,000 sale of Ridgewood Gardens in Tucson, AZ.

Ridgewood Gardens | Tucson, AZ

The multifamily property is located at 3302 S. Pantano Rd.  The 171-unit complex is only ten minutes away from The University of Arizona and surrounded by a great trade area just north of the property along E Broadway and E Speedway Boulevards.  The buyer Lilly Tucson Investments, LLC was a 1031 exchange buyer that was seeking a better return of his investments in the Tucson market.  “The seller and buyer were extremely diligent during the entire transaction,” said Lee.

The 148,494 square foot property will be working on some upgrades by installing separate water meters to individual units to reduce water usage. This will help in the efforts of boosting the operating income as well.  This sale concludes the final property sale in Arizona by seller, Ridgewood USA, LLC.  The transaction was closed less than 90 days and sold with a Cap Rate of 5.25% on current operation.


 SVN | Desert Commercial Advisors is a full-service commercial real estate services firm providing comprehensive expertise in investment brokerage, leasing, landlord/tenant representation, analysis/valuation and market research. We specialize in multifamily, retail, office, medical/dental, and restaurant property types. Visit our website at www.SVNDesertCommercial.com for more information.


Media Contact: Melissa Swader

Melissa Swader

Your Turn To Talk

Your email address will not be published.