Wagon Wheel Apartments, located in South Tucson, presents a prime opportunity for investors to capitalize on the rapid growth occurring along I-10 and Kino Parkway. This property offers a unique blend of apartments and mobile homes, creating a diversified investment profile. The asset includes (9) studios and (1) 1BD/1BA apartment complex and 6 mobile homes consisting of (3) 1BD/1BA and (3) 2BD/1BA — for a total of 16 units/spaces.
The interiors are spacious and well-maintained, featuring tile flooring throughout, recently painted units, and select upgrades such as new doors and some with modern finishes. Significant upside remains through comprehensive renovations, including updated countertops, modern flooring, and fresh paint. These enhancements would align the property with current market trends, increase tenant satisfaction and retention, and ultimately boost the property’s NOI. Utilities are currently master-metered and paid for by owner. A RUBS Program could be implemented to recoup some of the expense and shift majority back to the tenants responsibility. Tenants benefit from ample parking, and ownership enjoys low landscaping costs thanks to the desert-friendly design. With targeted renovations, new ownership can fully unlock Wagon Wheel’s potential — elevating the tenant experience and positioning the property for rent growth consistent with market demand.
Strategically located in South Tucson, Wagon Wheel offers convenient access to Tucson Marketplace, Kino Park and Sports Complex, and the newly underway Mosaic Quarters development. The property attracts a diverse tenant base seeking proximity to employment centers, retail, dining, and entertainment. Its location near emerging commercial corridors enhances both tenant appeal and long-term investment value, making Wagon Wheel an ideal opportunity for investors seeking stable returns with strong growth potential.