Multi with add on Storage Site

[Alecia Loveless]

I’m curious if others think this is a good idea.

I’ve got a lead in a building that when renovated would be 3 units cash flowing $1000 a month.

There’s a very large asphalt parking lot in back that I’m thinking I could turn into 4000sq ft of self storage as well as having plenty of parking for the tenants close to the building.

This would add another $3000 cash flow to the property per month.

Has anyone added self storage to a multi family? What have the results been? Do you think this is a good idea if the two could be kept separate via fencing and security cameras and lighting.

Thanks!