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Updated almost 6 years ago on . Most recent reply

Fourplex with Vacant Lot Next Door
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

@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.