Apartment Bedrooms 2, 1 or Studios
Hey BP Community, Just curious about when your purchasing an apartment building what do you look for in terms of bedrooms. I prefer two bedroom units and a small percentage of 1 bedroom units. Studios are not my favorite. I have a little more difficulty in renting studios. Two bedrooms are by far more popular. Appreciate your input.
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Kenneth Garrett Overall, I would want 2-bedrooms. I have properties in a college town. While there are other businesses there's a "backstop" of students for renters as well as recent college grads. Those can be great for my 1-bedroom units. If I didn't have that demographic, if it didn't skew that way, I wouldn't want nearly as many 1-bedrooms as I have. Studios can be a very mixed bag. A lot of times they end up as the "apartments of last resort" as they are the cheapest. If I was going to buy an apartment building with studios they would have to be nice, newer, almost "above market" quality studios. But I also have no interest in renting to...well..."leftover" tenants. I'm over generalizing but such is the challenge in forum responses. Mileage for all may vary!