STR Areas of Interest in Tucson AZ
I wrote this recently to a prospective client and thought it was worth sharing to anyone who is looking to know more about the Tucson market
These are per my experience and have no issue if others would like to add to it. Consider it a wiki entry for BP on Tucson STR's. (Now that is quite the acronym soup there)
Central Tucson is older and can have some great style and character options. People like Central Tucson because it is close to the downtown that has a great food and night activity scene and is also close the University of Arizona campus that draws lots of parents and grandparents and people who just like the college campus vibe
West Tucson is a great option for the views, golfing and resort feel. It is close to the downtown area but the majority of area is bigger lots and on the other side of a prominent hill that gives it a more out in the country feel
Foothills is the most exclusive areas with higher price points and lots of upper end shopping and dining
Marana and Oro Valley are the newer "suburban" areas of Tucson that have the laid back walking and biking paths, golf clubs, snow bird / retiree type activities that draw visitors in and then get hooked and eventually buy homes
If you haven't tried Tucson yet, there is quite the variety and with snowbirds leaving, there are plenty of current STR's ready to host you as the summer warms up.
Hello @Emily And Eric Erickson!!! Thanks so much for this. This is great info and I greatly appreciate your value you provide. I've found that there are a lot of out of state investors who like Tucson and this provides a quick explanation for the area. Thanks again :)
hello @Emily And Eric Erickson, enjoyed your narrative of Tucson. Short and I concur on your explanation. Only thing I would add is Tucson has a lot of GOOD food lol.
Great information. Looking forward to my visit in a couple weeks as we continue our research for an STR in the area. @Adrian Moreno might need some food recommendations!
Quote from @Adrian Moreno:
hello @Emily And Eric Erickson, enjoyed your narrative of Tucson. Short and I concur on your explanation. Only thing I would add is Tucson has a lot of GOOD food lol.
Excellent point and I am not even a foodie. Just heard a talking head on the radio today who had moved to Phoenix bemoaning how he missed the food scene in Tucson.
I'm actually starting my first STR in Tucson, was just there last Friday furnishing up my place 👍🏻
Quote from @Wences Lopez:
I'm actually starting my first STR in Tucson, was just there last Friday furnishing up my place 👍🏻
Congrats, welcome. I hope it goes well. Will be a bit slow through the summer so be patient on that front
I am looking to by a Duplex in Tucson. Last year I bought a rental house but the agent I have does not have any Experience in multifamily properties.
As a former student at the U of A, big rival games, homecoming, and greek life family weekends are a huge influx of people looking for lodging, with only a few hotels in close proximity to the University, STR's that are attractive can be few and far between. More long term rentals are also very attractive to students, I noticed that less people seem to be staying in apartments and are instead looking to move into houses around campus.
@Francisco J Sanchez I specialize in selling multifamily in the Tucson area... send me a personal message if you'd like to connect.
Quote from @Logan Williams:
As a former student at the U of A, big rival games, homecoming, and greek life family weekends are a huge influx of people looking for lodging, with only a few hotels in close proximity to the University, STR's that are attractive can be few and far between. More long term rentals are also very attractive to students, I noticed that less people seem to be staying in apartments and are instead looking to move into houses around campus.
The student housing market around U of A is a micro market and is fascinating to watch. Several large developers have built beautiful high end condo feel student apartments super close to campus which initially depressed rents in houses. Now they have pushed their hand on room prices and students are looking for options. Constant accordion push pull.
Parents tend to stay in STR's further away from campus where overnight parking is less of an issue
Quote from @Wences Lopez:
I'm actually starting my first STR in Tucson, was just there last Friday furnishing up my place 👍🏻
How's the experience been with this so far? I'm on the hunt in Tucson as well.
Quote from @Cameron Goedde:
Quote from @Wences Lopez:
I'm actually starting my first STR in Tucson, was just there last Friday furnishing up my place 👍🏻
How's the experience been with this so far? I'm on the hunt in Tucson as well.
It’s been good so far thankfully. It’s been booked ever since. I’m actually at my place right now doing some maintenance after a guest stayed for 2 months. I’m near the i10 that seems to attract people since that’s the only freeway here.
How's cash flow looking? I understand that AirDNA shouldn't be the sole source of data. But it seems like the current house prices (3+ beds, 2+ baths with a pool) doesn't seem to incur a good cash flow. (assuming 10% down). Are there better configuration (smaller house? no pool?) that seems to work for people?
Hey All! Does anyone have a recommended Tucson realtor who specializes in STRs?
Quote from @Alex McArthur:Yes, reach out to Marcus Adam at +1 (520) 664-5818.
Hey All! Does anyone have a recommended Tucson realtor who specializes in STRs?
Kyle
Quote from @Alex McArthur:
Hey All! Does anyone have a recommended Tucson realtor who specializes in STRs?
Last year I worked with Michelle Saroni on finding an investment property. I felt she was really knowledgeable and understood my parameters. I ended up buying a SFH home on a nice-sized lot and I am building an ADU on the property. Once that is done and rented I plan to work with her again to buy my next investment. We keep in touch and she has been helpful in connecting me with a contractor and subs.
Michelle Saroni (520) 403-3379
Quote from @Alex McArthur:
Hey All! Does anyone have a recommended Tucson realtor who specializes in STRs?
I would be happy to talk you through the process, let me know when you are available to talk
Quote from @Melissa Ralston:
Quote from @Alex McArthur:
Hey All! Does anyone have a recommended Tucson realtor who specializes in STRs?
Last year I worked with Michelle Saroni on finding an investment property. I felt she was really knowledgeable and understood my parameters. I ended up buying a SFH home on a nice-sized lot and I am building an ADU on the property. Once that is done and rented I plan to work with her again to buy my next investment. We keep in touch and she has been helpful in connecting me with a contractor and subs.
Michelle Saroni (520) 403-3379
Hi Melissa, I'm in the process of covering detached garage to an ADU, curious, how's it coming along? I just submitted plans to the city and now I'm looking for contractors/vendors. I try my best to stay motivated and focused even though had a few rough experiences on other projects before with them. Building a reliable network of contractors is one of my main goals for this year to help me scale up moving forward. I'm happy to collaborate and help fellow investors in the area.