Triplex - Should I add another unit????

Question

Hi All,

We currently own a triplex, it's basically a duplex with a small single family sitting behind it. The property has a slab that I think was used for a basketball court at one point and we measured that it could fit a 1400 sq ft home on it. At one point, the property did have 4 unit but it was on a different part of the property, not on that same slab. What do you all think about a manufactured home on the slab? I found some for 70K - 100K. I think I could get about $1200 in rent. Would a manufactured home make the property harder to sell in the future? What other things do you think I need to consider?

Todd Jones · Answer

Recommend speaking with an appraiser or realtor to verify. On paper, more bedrooms adds value but it depends on several variables like location, use of space, etc.

Ida Powers · Answer

It can't or can help add value to the property?

Jerry Lucker · Answer

Over 20 years in the business  - I say go for it. It can't help add value to your property. I've purchased, sold, held, rented, and developed mobile homes on property. They're the best bang for the buck out there.

Ida Powers · Answer

Thanks, I think I would do a brand new one. So do you feel like the property as a whole would appreciate too should we need to sell?

Nathan Harden · Answer

Manufactured homes are holding their value a lot better than they used to. That being said, be careful about moving a manufactured too many times or it being built before 1978 (I believe that is the year) because if either one of those is the case then a bank will not loan on the property because the manufactured age/been moved too many times. Something to think about for resale.

Ida Powers · Answer

Thanks! Do you see any implications if we needed to sell the property? Would value of the property be the same as a triplex or would we see some kind of appreciation?