Apartments with only 1 bedroom...good, bad, or indifferent

[Larry H.]

We currently own some four plexes and a duplex. We are looking to expand to bigger multi family properties. I’ve seen a few properties where all or majority of units are only 1 bedroom. My initial thought was to stay away from them because I feel like the turn over will be higher with only 1 bedroom. Multiple bedrooms are more conducive to families, this less likely for high turn over, in theory. Am I correct in my assumption?

[Hadar Orkibi]

@Larry H. its very much location dependent.

Overall i will take 2 bed 1.5 bath over 1 bed 1 bath every day of the week. 

the attract wider range of tenants and they tend to stay longer. 

ie. a couple, a couple that works from home, a couple with 1-2 kids, 2 young professionals etc etc . 

1 Bed could be good if the area is prime for that, like universality or near a hospital... or midtown kind of location. 

Overall unit mix I rather have majority of 2 beds over 1 beds.