California Investors Purchase Tucson Apartments

TUCSON-A California investor has purchased an apartment complex here for an average price of more than $19,000 per unit.

By D.J. Burrough | February 27, 2001 at 01:01 AM

Bernard J. MacElhenny Jr., a Santa Barbara, CA-based investor, purchased for $620,000 the Monte Vista Apartments, a 32-unit complex at 4015 E. Monte Vista. The complex is about five miles east of Interstate 10 and just a few miles north of the University of Arizona.

The sale price equates to $19,375 per unit.

The property was sold by Michael Byrne, a Tucson investor who had owned it for eight years.

The Tucson office of Marcus & Millichap, with broker Mike McClain, represented the principals in the transaction.

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