Ugliest Multi-Family ever?
My husband and I are soon to be the proud owners of the ugliest multi-family property ever! It is an 8 plex. We own another 6 plex in the area that is in much better shape. The rental market is strong and we know we can make improvements to increase the value and the rents. We paid $50,000 for this property.
We are planning on putting 30-40k into it. Our plan is to rehab the units as tenants move out. The kitchens and baths all need to be redone. Five of the units are currently rented at $400-450. One unit is gutted and needs to be completely rebuilt. They are small ~520 square feet 2/1 units.
I need some ideas for adding curb appeal. I was thinking about having it painted a tan color with white trim and painting the doors black or red. My other thought was adding shutters or a simple wood trim around the windows. One dilemma is that on the backside of the building there are windows that are irregular... there is no symmetry. Thought about putting up a fence so the tenants can have a backyard space. We also need to come up with some landscape ideas. This is a high desert and most people have grass. We do not want the upkeep and expense of grass.
Thanks in advance... any ideas will help… if you have an uglier property I would like to see it!