Investment Overview

Positioned less than one-mile south of The University of Arizona (UArizona), Cherry Park Studios (the “Property”), a 17-unit multifamily asset, offers investors a fully redeveloped asset with operational upside. Formerly a Red Cross building in the Historic San Antonio Neighborhood, 222 South Cherry Avenue was redesigned and meticulously built out in 2013. The finished product was a transformation into two- and three-bedroom industrial flats (one studio), consisting of 42 bedrooms and 38 bathrooms, with luxury finishes throughout, including washers and dryers in every unit. Proximity to UArizona inherently positions the Property for student operations; however, the property is not currently furnished and leases are by-the-unit and not by-the-bed. Below-market rents and no implementation of a RUBS program, further enhance the potential value of Cherry Park Studios. The Property’s proximity to 4th Avenue, Downtown, The Mercado District, and multiple transportation corridors provide additional appeal to renters and investors alike.