Tucson Apartments Market

[Christopher L.]

There has been quite a bit of discussion surrounding the Phoenix rental market, but I haven't seen as much about Tucson. Do any investors on here own much in Tucson? If so, how do you feel about the state of the market and opportunities for growth in the next few years?

I went to college there and am familiar with the good and bad areas of town. Recently my partner and I were in talks to purchase a 20 unit near the University but ended up being outbid. I'm open to considering other opportunities in the area but I'd be interested to hear what more savvy investors think about the area as a whole.

[Lamar George]

I agree with Sue on this one, however there is still money to be made. Right now it is a sellers market. There could be challenges with 20+ units but your duplexes, triplexes, 4 plex properties are making some great ROI. It depends on the deal and the level of motivation from the seller. I think Tucson is still a good market. We have to dig a little more but there are deals. Last month 70% of the homes sold on the MLS was in South Tucson. I know I was shocked by the numbers myself. Investors and retail buyers are buying in these areas because the houses are cheap and easy to find tenants.