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General Landlording & Rental Properties
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  • Ashland, Massachusettes
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What should I do with this 16 unit building? (young investor)

Account Closed
  • Ashland, Massachusettes
Posted Feb 13 2013, 07:26

Hi everyone,

So I'm a young investor and I have a 16 unit building 30 minutes outside Boston. They are one bedroom units but they are small one bedrooms... I think they are around 550 sq ft. The currently class of tenants in there is probably around a C. A few of the units have been updated and look pretty solid, but most aren't that great looking. My avg rent is $832. One that I fixed up nice got $950 for a year but now is down to $900. My question is this: with that small a space, and this class of units what should I do with the the building? Should I just maintain the units as needed to make them solid or should I renovate the vacancies as they come up and make them alot nicer and try to ask for more rent? Are the units too small to try to do an overhaul on the building and tenant class?

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