What do you think about ground level condos?

2 Replies

I have read that one should avoid investing in ground level condos, due to the perceived safety risk (prowlers can access through the back door). I would be interested in getting people's opinions on this and have you heard this concern from prospective tenants? Has it affected your ability to get market rent? I always liked the ground level when I was a renter so I am not sure about the validity of this. Assumptions: "A" neighborhood. No views.

Thanks

I'd think that would depend on the location in the hood. Otherwise, I'd not agree, prices of ground level are the premium units, not taking groceries up flights of stairs, that changes if there is an elevator. The top units are desirable as there are no feet tromping on your ceiling too. My experience in similar units doesn't really give validity to lower rents as they were the same but desirability leaned toward the bottom unit first then the top, and that depends on any view from the top, that can make a difference. :)

I think a few people probably worry about prowlers, but I'm sure a lot more value the convenience of ground floor units for moving furniture in, carrying groceries in, etc. We own a one-level triplex and people seem to like that it's ground level, plus no neighbors above (no stomping/noise from above). With that said, I don't do condos since I don't do HOA, but as far as ground level units, I've always heard that's generally a plus.

Promotion
Ashcroft Capital
A national multifamily investment firm
Three Reasons Investors May Prefer Real Estate
Read three reasons why investing in real estate private placements may provide several advantages.
Read More Here