Multiunits 8-15 unit. What US region to look at ?

Multi-Family and Apartment Investing
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Multiunits 8-15 unit. What US region to look at ?

Brandon P.Pro Member
Investor · Paradise, CA · Member since 2015 · 102 posts · 15 votes

I live in California and looking to buy an 8-15 unit complex in the mid west or southern states but I'm open to other areas. I was going off the Landlord friendly state map 2021 What are some good cities to look at?

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Ylli Bakalli
Real Estate Agent · Philadelphia, PA · Member since 2021 · 5 posts · 6 votes
5y

I feel like philadelphia is an undervalued market for bigger unit properties. I know when I get a 10-15 unit property in my inventory, it sells within the next day. I would definitely give Philadelphia a look especially near the Temple University area as students come back to in class learning, you will find a good amount of clients for your property. 

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  • Jared HottleBusiness Member
    Real Estate Agent · Cedar falls IA Waterloo, IA · Member since 2020 · 902 posts · 549 votes
    5y

    Alot of the midwest will fit the mold. What are your top criteria? cash flow? age of property? class of neighborhood?

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  • Ylli Bakalli
    Real Estate Agent · Philadelphia, PA · Member since 2021 · 5 posts · 6 votes
    5y

    I feel like philadelphia is an undervalued market for bigger unit properties. I know when I get a 10-15 unit property in my inventory, it sells within the next day. I would definitely give Philadelphia a look especially near the Temple University area as students come back to in class learning, you will find a good amount of clients for your property. 

    6Reply
  • Melinda McDonald
    Property Manager · Kansas City · Member since 2021 · 59 posts · 42 votes
    5y

    @Brandon P. Good afternoon - Kansas City is still a great place for value and appreciation.  I am with Atlas Property Management and we manage both SF and MF.  Would be happy to assist you in any due diligence.  If you need a broker, I would contact either @Alex Olson or @Michelle Lutz for MF.  

    Best,

    Melinda

    4Reply
  • Colby Fryar
    Investor · Tucson, AZ · Member since 2017 · 394 posts · 178 votes
    5y

    @Brandon P. Have you thought about the southwestern states like Arizona and New Mexico.  Tucson is starting to be crazy hot, but there are still some decent deals to be found.  

    2Reply
  • Chad McMahan
    Residential Real Estate Broker · Sedona, AZ · Member since 2017 · 754 posts · 504 votes
    5y

    True, much of Arizona is hot. Definitely Tucson, Phoenix area, Sedona and lots of other AZ towns, as well.

    0Reply
  • Frank Rodrigues
    Investor · Kansas City, MO · Member since 2021 · 110 posts · 65 votes
    5y

    @Brandon P.

    The Kansas City market has great options. If you have questions regarding that market send me a PM. I hope that helps and best of luck!

    0Reply
  • Mike MoeBusiness Member
    Realtor · Minneapolis, MN · Member since 2017 · 79 posts · 52 votes
    5y

    Tucson has been a great market for the last few years with small multi, and has all positive indicators it is going to continue to outpace the nation. Feel free to reach to chat more!

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  • Mark Joel Cualnag
    Las Vegas, NV · Member since 2021 · 4 posts · 2 votes
    5y

    Is Cleveland a good area?

    1Reply
  • Drew SygitBusiness Member
    Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
    5y

    @Brandon P. check out Metro Detroit.

    It's really going to depend on Class of property you want and cashflow.

    Generally, the higher the Class of property, the lower your cashflow.

    On the other hand, most investors forget that the lower the Class of the property, the higher the corresponding risk.

    You should figure out what you're comfortable with versus going with someone else's opinion!

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  • Mike D'ArrigoPro Member
    Turn key provider · San Jose, CA · Member since 2010 · 4k+ posts · 3k+ votes
    5y

    Personally I like Kansas City and the Quad Cities for multi family.

    0Reply
  • Joy Jones
    NJ · Member since 2017 · 35 posts · 4 votes
    5y

    @Ray Peslar is your property turn key? Tenant occupied etc? Very interested in the Philly area

    0Reply
  • Alex Bock
    Investor · Davenport, IA · Member since 2016 · 121 posts · 45 votes
    5y

    Quad Cities native here that just moved to Tucson, AZ ironically enough. I agree that both markets are great for multifamily, both (IA & AZ) are also landlord friendly. From what I've found, you will see considerably more appreciation in Tucson vs lower purchase prices and higher cash-flow in the Quad Cities. I think deals are much more obtainable back in the QC, so I have continued to invest there. Ultimately it all depends what you're looking for. I'm happy to be a resource if you want to learn more about Tucson or the Quad Cities, or need to scope out prospective deals.

    1Reply
  • Tracy Morris
    Real Estate Agent · Peoria, IL · Member since 2019 · 25 posts · 29 votes
    5y

    @Brandon P. Peoria Illinois probably won't make it on the landlord friendly list. But it's still a great place to look for the 1% rule and cash flow.

    1Reply
  • Remington LymanBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
    5y
    Originally posted by @Mark Joel Cualnag:

    Is Cleveland a good area?

     Cleveland, Ohio is not as good of an area as Columbus, Ohio

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  • Doug Schorr
    Rental Property Investor · Los Angeles, CA · Member since 2019 · 47 posts · 20 votes
    5y

    Also looking to get into MF investing, I've got a handful of SFR houses in OK, but interested in AZ, TN, IN, MO. My network (boots on the ground team) is in OK but looking to move to a different market..

    0Reply
  • Drew Cheezum
    Columbus, OH · Member since 2021 · 46 posts · 67 votes
    5y

    Columbus, OH is a good market for multi-families under 50 units. It's the fastest-growing city in Ohio and average rent prices increased by 10% in August which is the highest on record. There are more options in B and C class neighborhoods than in other midwestern cities

    4Reply
  • Brandon SturgillBusiness Member
    Real Estate Broker · Columbus, OH · Member since 2013 · 3k+ posts · 1k+ votes
    5y

    @Brandon P. what is the significance of the unit count?...by virtue of inventory properties in the range you are looking make up about 2% of all MF structures built...you're looking for a needle in a haystack...

    You can buy an 8-unit in my city for $1.6m and a 16-unit for $600,000...what are some of the other criteria you are focused on...unit count really isn't that important

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  • Mike D'ArrigoPro Member
    Turn key provider · San Jose, CA · Member since 2010 · 4k+ posts · 3k+ votes
    5y

    @Brandon P. the Quad Cities is a great market for small and medium sized multi families, particularly in Davenport on the Iowa side of the river. The COC returns are still very strong, IA is a landlord friendly state and the Quad Cities aren't oversaturated with investors. Amazon just announced in July that they are building a $250M distribution center in Davenport and will be hiring 1000 employees so that is big. I'd be happy to share more insights on the market if you want to reach out. You should definitely have it on your radar.

    3Reply
  • Christopher Imbarrato
    Developer · NJ · Member since 2020 · 13 posts · 3 votes
    5y

    @Ylli Bakalli I’m looking for 10-25 units in that area so let me know if you have any!

    0Reply
  • De'Anton Gipson
    Nashville, TN · Member since 2017 · 37 posts · 2 votes
    5y

    I know a deal we can look at if youre interested. Its in my home city of Nashville, TN. 14 Units

    0Reply
  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 31k+ posts · 20k+ votes
    5y
    Originally posted by @Remington Lyman:
    Originally posted by @Mark Joel Cualnag:

    Is Cleveland a good area?

     Cleveland, Ohio is not as good of an area as Columbus, Ohio

     Really?

    • NBA Championships: Cleveland 1. Columbus 0.
    • Rock & Roll Hall of Fames: Cleveland 1. Columbus 0.
    • Famous Rappers: Cleveland 2. Columbus 0.
    • Big Lakes: Cleveland 1. Columbus 0.
    • Famous Irish Mob Bosses: Cleveland 1. Columbus 0.
    • Shows about it staring Drew Carey: Cleveland 1. Columbus 0.
    • Famous Serial Killers: Cleveland 2. Columbus 0.
    • Actors who starred in Ferris Bueller's Day Off: Cleveland 1. Columbus 0.

    Speak for yourself bucko.

    4Reply
  • Remington LymanBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
    5y
    Originally posted by @James Wise:
    Originally posted by @Remington Lyman:
    Originally posted by @Mark Joel Cualnag:

    Is Cleveland a good area?

     Cleveland, Ohio is not as good of an area as Columbus, Ohio

     Really?

    • NBA Championships: Cleveland 1. Columbus 0.
    • Rock & Roll Hall of Fames: Cleveland 1. Columbus 0.
    • Famous Rappers: Cleveland 2. Columbus 0.
    • Big Lakes: Cleveland 1. Columbus 0.
    • Famous Irish Mob Bosses: Cleveland 1. Columbus 0.
    • Shows about it staring Drew Carey: Cleveland 1. Columbus 0.
    • Famous Serial Killers: Cleveland 2. Columbus 0.
    • Actors who starred in Ferris Bueller's Day Off: Cleveland 1. Columbus 0.

    Speak for yourself bucko.

     Remington Lyman Columbus 1. Cleveland 0

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  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 31k+ posts · 20k+ votes
    5y
    Originally posted by @Remington Lyman:
    Originally posted by @James Wise:
    Originally posted by @Remington Lyman:
    Originally posted by @Mark Joel Cualnag:

    Is Cleveland a good area?

     Cleveland, Ohio is not as good of an area as Columbus, Ohio

     Really?

    • NBA Championships: Cleveland 1. Columbus 0.
    • Rock & Roll Hall of Fames: Cleveland 1. Columbus 0.
    • Famous Rappers: Cleveland 2. Columbus 0.
    • Big Lakes: Cleveland 1. Columbus 0.
    • Famous Irish Mob Bosses: Cleveland 1. Columbus 0.
    • Shows about it staring Drew Carey: Cleveland 1. Columbus 0.
    • Famous Serial Killers: Cleveland 2. Columbus 0.
    • Actors who starred in Ferris Bueller's Day Off: Cleveland 1. Columbus 0.

    Speak for yourself bucko.

     Remington Lyman Columbus 1. Cleveland 0

     Bruh

    0Reply
  • Chrissy SeverancePro Member
    Realtor · Gainesville Fl. · Member since 2020 · 23 posts · 9 votes
    5y

    I just listed a 7 unit 100% occupied mf in Gainesville Fl,  Close to the University and downtown.  We have more people than we do rentals.

    0Reply
  • Brandon P.Pro Member
    OP
    Investor · Paradise, CA · Member since 2015 · 102 posts · 15 votes
    5y

    What

    Criteria do you look at when you want to purchase a multi unit out of state?

    How significant is the size of the town?

    (Population)

    Average income?

    What are the important factors?

    0Reply
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