🏨 Motel to Apartment Conversion
Can anyone share their thoughts on motel/hotel to apartment conversions? I toured a vacant motel yesterday in Indiana and think this could be a decent opportunity.
All of the units have been upgraded, new parking lot, and will have a new roof. Seems like all of the heavy lifting has been done by the owner.
The best part is that it’s located in an A- area and is an eye sore right now. Really high traffic area and near a lot of new construction.
We are going to get feedback from our PM on how much demand there is for studio units in the area. Any thoughts?
I found this deal by simply driving by and stopping to talk directly to the owner đź‘Ť