Multi family rents well within the city limits. You can get 10-15 cap rates within the city, vacant or turnkey. Suburbs have an excess of units since many have moved back into the city recently.
Do you have a preference of area?
@Jason Cory haven't really picked out a particular area but wanted to focus on B class
Class B structure or B area? This is where it starts to get away from people. A lot more to consider with Commercial property versus Residential.
@Jason Cory Class B area. The single family homes i have are class B and they work well. I assume multi family will be close to the same.
@Daniel Highsmith There should be some apartments in the B areas available. You'll pay more in those areas and likely won't see a 10 cap. I posted the true markets by class in another post you may want to look at since I think there is a misconception of what the classifications are for areas. I think what many are calling B areas are actually C areas for Birmingham. Birmingham Market by Class
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