Multifamily properties with only 1/1 units - are they useless?

[Bao Nguyen]

In my area, I've noticed a lot of multifamily properties with 4 to 12 units, and all units are 1/1.  In my opinion, and correct me if I'm wrong, 1/1 units are useless.  Who rents a 1 bedroom, 1 bath?  College students, and people who needs a place for a few months - a year max...or worse yet, an family that's trying to save money and cramming everyone into 1 bedroom.

In any scenario, 1/1 renters don't stay long, and the turnover rate is high.  As a buy and hold investor, I try to keep turnover to a minimum - I don't want a job as leasing consultant - it's much easier to just go apply for a W2 leasing consultant job at the nearest apartment complex than it is to buy $100k+ properties so I can make this job for me.

I would imagine multifamily properties with 3beds, 1bath+ are ideal - they attract stable and long term tenants.  

So why would anyone buy/build an apartment building with 8 units, all 1/1?!