Northmarq arranges $30.7M sale of River Park apartments in Yuma, AZ

YUMA, Ariz. — Northmarq’s Phoenix Multifamily Investment Sales team has arranged the $30.7 million sale of River Park, a 176-unit apartment community located at 2575 W. 24th Street in Yuma, Arizona. The team was led by Trevor Koskovich, Jesse Hudson, Ryan Boyle and Logan Baca.

Northmarq represented the seller, Phoenix-based FSO Capital Partners. The buyer, DLM Real Estate LLC of El Cajon, California, assumed an in-place Freddie Mac loan with a 3.85% fixed interest rate and a remaining unpaid principal balance of $25.3 million at closing.

“River Park attracted significant investor interest due to its strong in-place cash flow and operational stability in a market that continues to show resilient demand drivers,” said Hudson. “The buyer was particularly drawn to the asset’s high-yield profile, underpinned by consistent occupancy and a robust value proposition relative to comparable markets. It’s a testament to the continued investor appetite for strong income-producing multifamily properties with upside potential.”

Built in 1985, River Park spans 8.28 acres and offers a mix of one- and two-bedroom units averaging 775 square feet. The property features a heated swimming pool, spa, remodeled fitness center and leasing office, shaded ramadas with barbecue grills and picnic areas, an outdoor volleyball court, gated dog park, laundry facilities and landscaped courtyards.

The community sits adjacent to Yuma’s busiest retail corridor, providing residents with walkable access to shopping, dining and services.

Recent capital improvements totaling $1.48 million include roof repairs, exterior paint, pool deck resurfacing, low-flow plumbing installations, leasing office and fitness center upgrades, new signage, asphalt repairs, exterior lighting and in-unit washer and dryer installations in 80% of the apartments.

Yuma’s multifamily market continues to benefit from strong fundamentals. The city has seen nearly 15% population growth since 2010, with employment rising nearly 6% over the same period. Strategically located between Phoenix, San Diego, Los Angeles and Las Vegas, Yuma serves as a key hub for trade and logistics due to its proximity to the U.S.-Mexico border. The region also boasts a $3 billion agricultural economy, producing 80% of the nation’s winter vegetables.