Tucson Multifamily Market
I am new to the Arizona Real Estate market and have been previously looking at options in the greater Phoenix area for investment properties. I had briefly heard decent things about Tucson's market and decided to take a look. I saw that prices were much more manageable in Tucson than in the Phoenix area, now my interests are beginning to switch.
I am interested in multifamily properties for long term rental and I would like to keep it around the 300k range. My questions are:
- What parts of Tucson are "nicer" than others (Went once in college and saw some pretty dirty parts)
- Is there a good rental market besides college kids needing 1 year leases?
- Is the 300k price point reasonable for lets say a duplex in nice condition? (Newerish build)
Any general thoughts or recommendations would be much appreciated. Looking to learn anything I can about the Tucson area. Thanks!
Most Popular Reply
@Michael LemMon I'm not focused on small multifamily but do pay attention to large multifamily. I try to keep up with market trends by reading reports from sites like Marcus and Millichap or Berkadia. Here's a free market report on the 2021 outlook for Tucson from Berkadia. It's at a macro level but this forecast shows some good details on the market. Hopefully this helps you out a little bit :-) https://berkadia.com/wp-conten...