New Construction Townhomes Waukesha County
Has anyone investigated doing new construction town homes/multi-family in Waukesha County/Milwaukee area? Supply is low and current multi family homes are in disrepair/bad locations. I have been considering seeking a builder to complete a row of 3 bed 2 bath town homes. Not a large complex but 4-units max.
This is something I've considered as deals are getting harder to come by in my target area. I've done some high level investigation on what it would take to build a new side by side duplex in Waukesha County and I haven't had much luck making the numbers work. Rent for what you describe should be around $1,500-$1,600/mo. Finding the right piece of land at the right price is a challenge. Also, you are going to be competing with larger complexes and communities that offer more amenities than you can with 2-4 units which will put some pressure on your rents. It's not to say it can't be done, but it's going to take finding the right location.