This off market 10 plex property sits on one parcel that is .42 acres, in the south east part of central Tucson not far from David Monthan Air Force Base.
There are three total buildings with 11 total possible units of which 10 1/1's are currently renting and one is an old house that hasn't rented for 20 years +, that's been being used for additional storage. Two contiguous strips of red brick built rental property buildings face each other, with one building containing four and the other six units in total. The old home / building currently being used for storage in the rear of the property can be restored to being a small rental home which can make this an 11th rental unit, for a cost that's been estimated as being approximately 20k+ depending on who is used and what is done.
This property has one building with six rental units that is 3770/ft. built in 1964 while the other contains four rental units, which has 2000/ft., that was built in 1975.
These units are all rented up and always are. The owner indicates his being at 100% occupancy the last few years as well as that several of those who left then have asked to return.
The rents can be increased pretty significantly. Following this is what my professional property manager contact Tim says.
*Adding yard would be the biggest help to these. Would add $25-$35 more per month.
With a nice interior remodel and added curb appeal, the Smaller could go for at least $625.00+ and the larger ones up to $650.00+
This property is self managed. The owner has pride of ownership is maintaining the property better than many. The owner advises he is not aware of any major deferred maintenance or condition issues at this time.
