Motel to an Apartment Complex

9 Replies

We have it under contract and are looking into our exit strategy. It’s a great flip or hold as well. We are possibly just going to wholesale it. I would appreciate any information or help with this.

@Antonio Davis

Check with local zoning departments as they don't always allow a conversion in certain areas or on certain properties (depending how zoned). I lightly tried once and zoning refused, so ran the property as is and then sold it shortly after. City said they would "allow" me to tear down and build NEW apartments.....I laughed. 

Consider this a complete gut job and you will need to hire an architect for drawings etc. This could be messy for electrical and water metering if you want to do individual metering.   

@Antonio Davis that sounds like a lot of work from a construction perspective but also from a reputation point of view. Do you think you can attract the residents you want?

@Antonio Davis

I was actually just hired to help with a feasibility study for same thing. In about 2-3 months I could probably help a lot more.

In regards to fire codes you’ll need 1 hr rated separation between units, and possibly sprinklers depending on the local code.

My other big concern for this type of project is do we need to provide accessibility for the first floor units? My initial read is that will be required but again it may depend on local codes.