I am looking in January to get my first Muliplex. Here are two types. One is more like an apartment style some have an HOA others do not. The other type is like a duplex or triplex some also have a small house on the property also. Could you tell me pros and cons and if you have a favorite type over the other. Lets assume both properties cash flow the same. Which style would you pick?
Apartment Style https://www.redfin.com/AZ/Phoenix/2827-E-Kathleen-...
Duplex with House style https://www.redfin.com/AZ/Phoenix/2849-W-Polk-St-8...
Personally, I prefer apartment-style as they tend to have better cashflow and there's only one roof to repair, etc.
Of course, if there's a HOA that and other things factor in as there would likely be additional expenses. And of course typical things like neighborhood, schools, crime, ease of filling a vacancy, etc.
But looking at the two properties, the duplex with the house brings in $2100 monthly while I bet the 4-unit brings in more income per month. You know the monthly rents in Phoenix better than me, but what's the 4-unit generate per month? Likely $2800+? (I totally rentometered).
Hi @Dustin Sifford I’m an agent at one of the top Multifamily brokerages in the state and have helped a few investors on here get their first multifamily property. I have extensive market knowledge and would be happy to chat about what you’re looking for.
I currently have a agent that I am working with. What style do you think works better. Originally posted by @Chris Tran :
Hi Dustin Sifford I’m an agent at one of the top Multifamily brokerages in the state and have helped a few investors on here get their first multifamily property. I have extensive market knowledge and would be happy to chat about what you’re looking for.
@Dustin Sifford Its no contest for me.......Duplex property!
1. Duplex is more like a SFH than apartment style. Have a yard, no one living above you or below you.
2. Duplex is set apart in competition from apartment living. Viewed as advantage over apartment living.
3. No HOA, and usually no utilities to cover.
4. Tenants usually higher economic status, less tenant to tenant issues.
5. Many duplexes have a garage and washer dryer hookups.....many apartment styles have one or none.
I like duplexes similar to the one you have pictured. More like 2 SFRs in 1 building. Each tenant can care for their own yard, and mine also do all of the snow removal.
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