Converting hotel to apartment building

Converting hotel to apartment building

Specialist · Grand Rapids, MI · Member since 2016 · 1k+ posts · 611 votes
Has anybody converted a hotel to apartment building. Any caveats of things I should look out for that may be unique to this transition?
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  • San Jose, CA · Member since 2015 · 4k+ posts · 3k+ votes
    10y

    I have not, but I have lived in 2 of them as a tenant.  The owners who bought and converted the hotels were able to get tax breaks and govt funding to turn them into low income senior apartments.  Not sure if that would work for you, but you could look into it.

    Here's a little info:

    https://nhlp.org/lihtcoverview

    The ones that I've lived in have had different sized studios and one-bedroom units.
  • Kevin ReynoldsPro Member
    Rental Property Investor · Seattle, WA · Member since 2018 · 50 posts · 15 votes
    3y

    @Charles Kao - How has your real estate investing journey been going?  Were you able to connect with others doing hotel to apartment conversions?

    I'm working with a team that specializes in this niche and would be happy to connect.

  • Specialist · Grand Rapids, MI · Member since 2016 · 1k+ posts · 611 votes
    3y
    Quote from @Kevin Reynolds:

    @Charles Kao - How has your real estate investing journey been going?  Were you able to connect with others doing hotel to apartment conversions?

    I'm working with a team that specializes in this niche and would be happy to connect.

    Totally forgot about this post.  We have been busy but not with conversions like this have built or planned 3 million square feet of self storage since.


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