Why stucco? To buy or not to buy.

Question

Hey everyone.  I'm in acquisition mode and recently came across a newly stucco'ed  building in my investment area of Denver.  Stucco scares me as I assume it's hiding significant masonry and/or structural issues.  But maybe I'm being overly cautious.  I thought I'd put it to the group.  Why, in your experiences, do owners/sellers wrap a building?  Should that be a concern or should it allay concerns?  Any thoughts, insights, nuggets of wisdom would be most appreciated.  Happy investing!

Andy Palmer · Answer

Turn of the century.  I love old buildings -- even with their risks.  That's my wheelhouse, as you can tell from my bio.  Cap Hill.  Great idea regarding door jambs.  I should've paid more attention when inside.  Interior walls looked good.  Thanks for the thoughts, Matt!

Matt M. · Answer

How old is the building? What part of town? How do the inside walls and door jambs look?

Andy Palmer · Answer

Thanks, Bonnie.  I do know it's been recently (within 5 years) wrapped in stucco.  I've seen earlier OMs and whatnot.  The building it brick.  I love Denver's older architecture and this is an older building.  But Denver buildings can have what is known as 'Denver brick.'  They are brittle.  I can't discern in the pictures of the sources mentioned if the brick is disintegrating or stair-stepping.  And I can't see foundational wear inside.

The building was bought and somewhat improved about 7 years ago.  The changes include the stucco.  That is why is question it and the cost/reason.  If it was an aesthetic choice of the previous owner, it was a costly one.   Or... perhaps, as I'm curious, there may be another reason to stucco.   ??

Thanks again, Bonnie!  Anything else I may be missing?