I am currently vetting a 4plex that is made up of 1 bedrooms. Historically speaking, I have found 1 bedroom units to be a bit more difficult to rent out. Has anyone else found this to be true? Should I shy away from such small units?
My 1br units were usually easy to rent though hard to keep people in long term. I averaged 14 months across the 2 1br units I owned.
@Nicole Flakes What do the numbers tell you? Are you accounting for 8.1% vacancy? 8.1% is 1 empty month per year per apartment.
How do you fill your apartments? If you are paying a realtor on top of vacancy, then make sure that is accounted for.
Thank you for your insights! Honestly the numbers tell me that the property is overpriced but I was looking to negotiate that part to a more acceptable rate of return. As far as accounting for vacancy...the info you gave is exactly what I was looking for! So thank you. I will take this info into account going forward.
@Nicole Flakes congrats on the find! If the deal is a good one the number of beds is secondary-they all have their drawbacks and attributes. It depends greatly on your target market-what kind of tenant you want. All the best!