What improvements lead to higher rents

[Chris Penny]

Hello, All. Putting in a bid on a 10 unit apartment building. Following the BRRR formula, I will be looking to improve the property, raise the rents and refinance. My question is what improvements will give me the most bang for the buck and which will be a waste of money. The exterior needs paint and some of the eves need to be replaced. There are two 2-car garages that I want to convert to studios. The kitchens are dated with tile counters and ceramic sinks that are chipped and worn. I want to put in granite counters, re-face the ugly dark brown cabinets, new fridges and stoves. I have also thought about filling in the pool and planting grass in the courtyard to save that expense, but not sure how popular the pool is for attracting tenants. The building is in Fresno, CA so pretty hot in the summer. The patios are also in need of attention, so looking at replacing the fencing and pouring concrete patios. Many closet doors are old and shabby. Thinking of floorboard trim all around. Maybe a two color paint scheme.

Am I on the right track?  Doing too much?  Anything I might have overlooked?

Cheers - Chris Penny

[Account Closed]

New kitchen, new bathroom, washer/drier will give you higher rents.