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Updated almost 10 years ago, 11/26/2014

User Stats

102
Posts
13
Votes
Chai Sag
  • West Orange, NJ
13
Votes |
102
Posts

Multi family Parking Spaces

Chai Sag
  • West Orange, NJ
Posted

HI

I am interested in a 2 family house. Cap rate is Min 8% and potential for 11 % 

There are only 2 parking spaces . 

Ideally I would like many more parking spaces ,specially because is a 6 bed house plus 2 bedrooms in basement

I would like to hear your thoughts regarding Parking spaces in Multi family and how this affect value for rentals and sale

User Stats

1,870
Posts
777
Votes
Aaron Montague
Pro Member
  • Rental Property Investor
  • Brookline, MA
777
Votes |
1,870
Posts
Aaron Montague
Pro Member
  • Rental Property Investor
  • Brookline, MA
Replied

@Chai Sag 

Is it easy to park on the street?

Honestly I don't think it makes a huge difference.  2 spots is a decent number.  In an area where parking is expensive and/or hard to get having any should allow you to raise the rent a bit.  

How would you evaluate the parking situation around the home?

  • Aaron Montague