TUCSON, ARIZONA (May 15, 2025) – Providence Property Group has acquired the Tropicana Apartments, a 14-unit garden-style multifamily property located at 3815–3819 E. 3rd Street in Tucson, Arizona, for $1,735,000. The sale price equates to $123,929 per unit and $200.58 PSF.
This marks Providence Property Group’s first acquisition in the Tucson market. The firm—active across Georgia, Florida, North Carolina, and Texas—focuses on acquiring well-located, stabilized multifamily, office, retail, and adaptive reuse properties in growth markets.
Tropicana Apartments features a mix of (2) studios, (8) one-bedroom/one-bath, and (4) two-bedroom/one-bath units. Each unit includes in-unit washers and dryers and private backyards. Residents also enjoy access to a central courtyard with a pool and BBQ area. The property maintains a strong occupancy history and is ideally positioned near the University of Arizona and Park Place Mall, offering a convenient lifestyle for tenants.
The transaction represents a turn-key investment opportunity for Providence, aligning with its strategic focus on acquiring high-quality assets with value-add potential.
Allan Mendelsberg and Joey Martinez of Cushman & Wakefield | PICOR represented both buyer and seller in the transaction.
For more information, Mendelsberg can be reached at 520.546. 2721 and Martinez is at 520.546.2730.
Reference: RED Comp #11902