Hey Folks, just wanted to share the statistics for the Tucson multifamily sector.
-Average Price Per Door: $78,943
-Median Price Per Door $53,333
-Average Cap upon sale: 6.7%
-Median Cap upon sale: 6.6%
-Average Rents: 1Bed = $575, 2Bed = $695, 3bed = $900
Just as a caveat to this information please do not use this to analyze if you are looking at a good deal or not. Just like any market variances in product type and location play a major factor that is not accounted for in a city-wide median or average. Tracking these trends over time can however indicate the direction of the market.
Tylor, good info. We'll be in the market for a multi-family in the next 6-12 months. Currently flipping SFR to roll gains into multi-family. Are you a commercial realtor?
Yes sir. Anything 2-50 units in Tucson I'd be your guy.
Do you also come out to Coolidge? We just closed on 2 SFH in Coolidge and would love some multi- in the area. Also looking to branch out to Tucson, San Tan, Queen Creek if the areas are right for growth.
Thanks for the info! Very helpful. Among other things I own multi family and student housing near U of A. I'll be running in the Tucson Marathon this year.