1532 Delaware Street - DUPLEX in Santa Maria neighborhood of Tucson

[Kelly Taylor Blakesley]

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $290,000
Cash invested: $85,000

front/back duplex

What made you interested in investing in this type of deal?

Great path to development in emerging part of Tucson, near St. Mary's hospital, Tumamoc Open Space and U of A.

How did you find this deal and how did you negotiate it?

Found through Atlas Real Estate AIB brokerage, deal underwritten by investment specialist

How did you finance this deal?

KeyBank

How did you add value to the deal?

Minor updates to interior, major updates to systems (water heater, AC, etc)

What was the outcome?

cash flows nicely around $1200-$1500 month.

Lessons learned? Challenges?

Missed some stuff on inspection, had some bumps with PM

[Scott Mac]

Do you think curb appeal would increase the rents or increase the appraised value of the property.

To me it looks a bit disheveled and I can picture the renter for this type unit as is...(might be a money maker???)

But would some eye candy make this piece of your portfolio appraise for more (maybe ??? Location Location Location).

If it were mine I'd sell that birdbath on ebay or to a swap-meeter on Craig's list.

And move the nice stone ring to the backyard as a fire-pit with two picnic tables (chained to the ground).

Maybe a 6 foot tall privacy fence down the middle of the backyard so each family could have their own outdoor area.

Good Luck!