3502 - 3542 Romero Rd - Apartments FOR SALE


Tucson, AZ 85705- Acaso
$1,300,000 USD
520-490-2113
3502 - 3542 Romero Rd, Tucson, AZ for Sale
$1,300,000 USD
Apartments - FOR SALE
1/17
null | 7.08% Cap Rate

3502 - 3542 Romero Rd
Tucson, AZ 85705
Acaso


HIGHLIGHTS

  • ATTRACTIVE SELLER FINANCING         
  • Value-add opportunity
  • Below market rents
  • Rental upside with renovations
  • Washer/dryer hookups in each unit
  • Individually parceled per fourplex

OVERVIEW

Romero Apartments is a 16-unit multifamily community located in Tucson’s North Central submarket, offering a compelling value-add opportunity enhanced by attractive seller financing for investors seeking long-term rent growth and operational upside. The asset spans four separate parcels, with each fourplex individually parceled—providing flexibility for future exit strategies. The property features a well-balanced unit mix of (8) 1BD/1BAs and (8) 2BD/1BAs, catering to a broad tenant base and rental approach. Interior finishes vary, with select units receiving modest upgrades such as vinyl flooring and fresh paint, while the remaining units maintain classic finishes including older tile, cabinetry, and bathroom vanities. All units are equipped with security doors and ceiling fans. Currently rents are significantly below market, presenting a clear opportunity for investors to implement a strategic renovation program and achieve meaningful rental increases. Additional unit-level amenities include private backyards& in-unit washer and dryer hookups for each unit. The property is individually metered for electricity and gas, with ownership currently responsible for water, sewer, and trash. This structure provides an opportunity to implement a Ratio Utility Billing System (RUBS), allowing future ownership to recapture utility expenses and improve overall operating efficiency and net cash flow. The functional layout supports both interior and exterior upgrades, enabling investors to enhance curb appeal, elevate the tenant experience, and further increase revenue potential. A key highlight of this opportunity is the availability of seller financing, which offers increased flexibility, reduced upfront capital requirements, and the ability to execute renovations and stabilize the asset without the constraints of traditional lending. Strategically located near I10, major transportation corridors, and key employment centers, Romero Apartments benefits from consistent tenant demand and strong rental fundamentals. Through targeted capital improvements and active asset management, investors can significantly increase rental income and grow the properties NOI.

FOR SALE DETAILS

PRICE

$1,300,000 USD

PRICE/SF

$122 USD /SF

# OF UNITS

16

PRICE/UNIT

$81,250

CAP RATE

7.08%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Romero Apartments

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1954

PARKING SPACES

26

LAND DETAILS

LAND ACRES

1.22 AC

LAND SF

53,143 SF

ZONING

C-2

APN/PARCEL ID

106-12-017B,106-12-017C,106-12-017D,106-12-017E

ASK ABOUT THIS PROPERTY

Allan MendelsbergCushman & Wakefield | PICORMore Info
520-490-2113

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Allan MendelsbergCushman & Wakefield | PICORMore Info
520-490-2113

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.