ASSUMABLE LOAN: 2.89% (10-YEAR I.O.)

Positioned in Upscale Catalina Foothills
85718 Zip Code

Strong Submarket Demographics:

  • Average Household Income: $138,509
  • Average Home Value: $743,524
  • Bachelor Degree or Higher: 67%
  • White-Collar Jobs: 87%

Location Advantages:

  • Close proximity to upscale shopping, dining, and entertainment.
  • Adjacent to "The Loop" - 131 linear miles of greenspace and paved trails.
  • Adjacent to Rillito Regional Park and Racetrack.

proven value-add opportunity


Proven Value-Add Opportunity

  • Majority of exterior / common areas renovated.
  • Interior Units: 48% renovated.
  • Renovated units average $202 above non-renovated units (In-Place Actual Rents).
  • High-barrier to entry submarket.
  • No new construction under development or planned in Catalina Foothills Submarket.

Opportunity Highlights

Over the last 18 months, current ownership has renovated a majority of the property’s exterior and common areas. ​ Additionally, 48% of the unit interiors have been renovated, resulting in an average monthly rental increase of $202 (In-Place Actual Rent for occupied units). A buyer has the opportunity to continue renovations to the exterior and common areas, and interior renovations to the remaining 220 units and drive rents even more.

±$7,500 per unit interior capital infusion currently achieving $2,424 average annual rent premium, a 32% ROI

Interior Unit value-add Options

Kitchens
  • New Appliance Package
  • New or Resurfaced Countertops
  • Install New Sink, Plumbing, and Light Fixtures
  • Upgrade Cabinets and Add Modern Door Pulls
  • Add Vinyl-Floor Coverings
BATHROOMs
  • Install New Sinks, Plumbing, and Light Fixtures
  • Add New Towel Hangers and Shower Curtains
  • Upgrade Cabinets and Add Modern Door Pulls
  • Add Vinyl-Floor Coverings
Accents
  • Paint Walls and Doors
  • Add Two-Inch, Faux-Wood Blinds
  • Update Door Hardware
  • Replace Outlets / Switches and Modernize with USB Ports

The Property

Entrada, with its beautifully manicured landscaping, offers residents a great north location, close to an abundance of retail, employment, and entertainment, along with easy-access to Rillito Regional Park and The Loop.

Built:
renovations:
EXTERIOR / COMMON AREAS
Interiors
Units:
Total square feet:
Average unit size:
Acres:
Density:
Buildings:
Stories:
Metering:
1983 & 1985
2019-2020
Majority
48%
424
±330,347
±779
±19.82
±21.39
28
2 & 3
Individual
Unit Mix
1 x 1 – 455 SF
1 x 1 – 636 SF
1 x 1 – 713 SF
1 x 1 – 796 SF
1 x 1 – 880 SF
1 x 1.5 – 1,022 SF
2 x 1 – 1,068 SF
2 X 2.5 – 1,170 SF
3 X 2 – 1,345 SF
Built:
renovations:
EXTERIOR/COMMON AREAS
Interiors
Units:
Total square feet:
Average unit size:
Acres:
Density:
Buildings:
Stories:
Metering:
1983 & 1985
2019-2020
Majority
48%
424
±330,347
±779
±19.82
±21.39
28
2 & 2.5
Individual
Gallery

Amenities

unit AMENITIES
  • Air Conditioning
  • Ceiling Fans*
  • Dishwasher
  • Microwave*
  • Breakfast Bar*
  • Kitchen Pantry*
  • Modern Espresso Cabinetry*
  • Quartz Countertops*
  • Energy-Efficient, Stainless Steel Appliances*
  • Brushed Nickel Finishes*
  • Wood-Burning Fireplace*
  • Private Balcony / Patio
  • Washer / Dryer*
  • Walk-In Closets*
  • USB Plugs*

*In Select Units

Community amenities
  • Clubhouse
  • Fitness Center
  • Yoga Room & Spin Room
  • Two resort-style Swimming Pools and Spas
    - Featuring Outdoor Kitchens and Cabanas
  • Dog Park
  • Laundry Facility
  • Picnic Area with Barbecue Grills

 

Interior Units | Renovated

Community Amenities

Location

Catalina Foothills Submarket 85718

±67%
Bachelor degree or higher
WITHIN A 3-MILE RADIUS
±$139K
Average Household income
WITHIN A 3-MILE RADIUS
±$744K
Average Home value
within a 5-mile radius
±87%
White Collar Jobs
WITHIN A 3-MILE RADIUS

Contact

​ Art Wadlund
Investment Sales
Senior Managing Director
​ 520.299.7200
art.wadlund@berkadia.com

​ Clint Wadlund
​ Investment Sales
​ Director
​ 520.615.1100
​ clint.wadlund@berkadia.com

​ Clay Akiwenzie
Mortgage Banker
Managing Director
​ 415.646.7716
​ clay.akiwenzie@berkadia.com

Investment Sales

Mortgage Banker

Art Wadlund
Senior Managing Director
520.299.7200
art.wadlund@berkadia.com

Clint Wadlund
Director
520.615.1100
clint.wadlund@berkadia.com

Clay Akiwenzie
Managing Director
415.646.7716
clay.akiwenzie@berkadia.com

© 2018 ​ Berkadia

​ 2 E Congress St #1050, Tucson, AZ 85701