Zona Village

Description

Zona Village is located in Tucson, the second most populous city in Arizona with a population of 1.1 million residents.
This property is located in the western foothills of Tucson, about a 15 minute drive to downtown, the international airport, and the University of Arizona (with over 45,000 enrolled students).
The average household income is currently $56,000 and is expected to grow at 4.3% annually over the next 5 years. Unemployment in the neighborhood is very low at 2.6%. About half of the residents are renters while the median home is valued at $212,351.
The demographic supports properties catering to singles and couples; with highest demand for 1 bedroom units. Zona Village is comprised of 80% 1 bedroom and 20% 2 bedroom units.
The household average income supports rents of $900 or more per month. The property’s units have an average rent of $635/month.

City
Tucson
State
Arizona
Aquisition date
June 2017
Number of units
183
Surface area
9139 m2
Fair value
10.1 Mio USD