Combining (2) 4-plexes to create 8 unit apartment...any upside?
I am looking at 2 identical 4-plexes on separate small plots next to each other. One 4-plex lot has an easment for the other. Separatley, I can't make the numbers work at the prices 4-plexes are selling in this area.
Is there any upside in combining the plots to create one 8-unit apartment complex? Is it possible? What is involved in doing that?
It seems that if combined, there could be the upside in reducing expenses (insurance, property taxes, etc.) and being able to add value to the bottom line, more so than as a 4-plex.
Anyone have expierience with this kind of thing?