Seeking Advice on Buying Multiple Units in a Multi-Tenant Industrial Condo Property

[Ibrahim Mawri]

Hi everyone,

I’m exploring a potential investment and would love any insights from those with experience in similar properties. I’m considering purchasing five units in an eight-unit light industrial property structured as a condominium. Each unit is individually owned, with some owners holding multiple units.

A few things I’m trying to understand better:

1. Pros and Cons: What are the main benefits and challenges of owning multiple units in a property like this with a condo setup?
2. HOA Dynamics: How has your experience been with condo associations in this type of asset? Any issues with fees, management, or decision-making?
3. Exit Strategy: How easy/difficult has it been to sell units in similar properties? Did you encounter any unexpected hurdles in the resale market?

I’m weighing this as a potential long-term hold, but want to be mindful of any unique risks that come with this structure. Any stories, tips, or advice would be hugely helpful as I decide whether to move forward or reconsider this purchase. Thanks in advance for sharing your experiences!