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Updated almost 6 years ago on . Most recent reply

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Jeanne Hink
  • Developer
  • Hermitage, PA
3
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10
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Fourplex with Vacant Lot Next Door

Jeanne Hink
  • Developer
  • Hermitage, PA
Posted

Hi,

I'm purchasing a fourplex that includes the adjacent vacant lot (2 separate addresses).  It cash-flows OK and is in great shape.Market rents are about currently $600/month without a garage.  What should I use this lot for, or build on it in order to maximize my cash flow on this property?  I thought about building a 4-car garage; even putting one or two apartments above it.  What do you all think?  

Thank you!
Jeanne

Most Popular Reply

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Aaron K.
  • Specialist
  • Riverside, CA
3,801
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6,241
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Aaron K.
  • Specialist
  • Riverside, CA
Replied

@Jeanne Hink if the numbers make sense to build do that, I'd go with another 4-plex if possible with parking underneath if the rents justify the additional costs and just leave the current units without parking.

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