How good of an investment are Triplex's in Tucson?

[Sean MacDonald]

Hey BP people,

I'm selling an off-market triplex in Tucson right now. I'm curious to know how good of an investment these are? 2 of the units currently being rented out and we have it for 399,000 which is well below market value IMO. I'm curious to know what you all think about dups, tris and fours in Tucson? Have you seen good returns?

[Jonathan Greene]

Why are you selling it off-market? You are reaching drastically less people than if you had it listed with an agent who knows multifamily and how to present it. If it's because of the tenants, you now have limited visibility on it and difficulty with tenants. Why is it listed well below market and what is that telling people about it? If you have it at 399k, what are the rents of the two units now, when do the leases end, and what is the expected rent of the vacant unit? Do you have a net sheet for investors with rents, income, and costs?