Downside to an apt. bldng with only 1BR units?
Looking at a smaller apartment deal in Texas that only has 1BR units. What are some of the downsides to only having one floor plan and specifically 1BR units? Here are some of the details:
16 units - 2 bldngs, 8 units ea
C class buildings, 80's construction, needs exterior and interior cosmetic renovation
Some deferred maintenance but nothing structural
Under market rents
Stable, solid middle class/blue collar secondary market
Out of state owner, property mismanaged by "on site mgr" who lives in one of the units