New Triplex Build – Looking for Input on Unit Mix, Layout & Features
Hi all,
I currently own 4 doors (1 duplex and 2 single-family homes) and am working with an architect on plans for a new triplex that I plan to start building this year.
Since I’m designing from the ground up, I’m trying to incorporate features that can boost rent, increase demand, and help with tenant retention. I’d love some input from those who have built, owned, or managed newer multifamily properties.
A few things I’m considering:
- Unit mix: My current thought is two 3BR/2BA units with a furnished 2BR/2BA in the middle. Has anyone had success mixing furnished and traditional long-term units?
- Bedrooms upstairs: One layout puts all bedrooms upstairs, leaving the first floor for kitchen/living/dining. Do you think having no first-floor bedroom would noticeably hurt demand?
- Features/amenities: What have you added that tenants actually seem willing to pay more for? Private/fenced yards, covered patios, garages/storage, upgraded kitchens, larger closets, etc.
- Spend vs. save: If you wanted to be toward the higher end of your rental market, where would you spend the extra money, and what upgrades would you skip?
For those who have done ground-up small multifamily, what would you do differently on your next one?
Most Popular Reply
The best advice I can give you for this question is to study the surrounding comps in the area of your build. Are you building in a single-family home area? Are there other 2- & 3-bedroom duplexes and triplexes in the area?
If there are similar rental units near you, what features do they have and how could you improve on those?
Unfortunately, there isn’t a magic bullet design or feature that works everywhere.