Small Mulitfamily's in Big Apartment Markets
How do small multifamily's (3-4 units) fare when located in markets that generally have a large supply of large apartment complexes, like Orlando, Dallas-Fort Worth and similar markets. I am currently in Massachusetts, but foresee moving to Florida, Texas, Arizona within the next few years, and was wondering how a small property would do in markets like those.
I'm looking at getting my first place here in Massachusetts soon, and I don't really have to compete with large complexes here.
Your friend,
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In general, some of the areas you mentioned are hot and pools are common, so are gyms, for the extra expected facilities, larger complexes are popular.
But there are some people that do not like the large more social scenes and would prefer a smaller complex. Not as many people go for the smaller places, but not as many complexes either.
Having lived in AZ and CA in the past, the smaller multi- residential properties are not as common as in the south (where I live now) and east (where I also lived and visited a lot in the past).
Note: never lived in TX, just passed through so I know nothing for TX.