Pros and Cons of Unit Mix in 20 unit apartment

[Diem Tran]

Hi Everyone,

I'm looking at a property that has 19 one bedroom, one baths & 3 Coefficients.  It is in a class c neighborhood, mostly working families.  I tried looking for a discussion similar to this, but when i type in "unit mix", mostly discussions about mixed properties pop up.  Anyways my hare brained question today is this:  

What are the pros/cons of one bedroom units?

I read that 2 bedrooms rent faster, but lets say that I'm in the middle of Miami where the vacancy rate is pretty low.  Am I wrong to assume that even if it takes a little longer to rent out a 1/1, it'll still be ok (assuming that it'll take a week or two longer) ?

I've heard that 2 bedrooms are more popular for families?  But why is it so important to rent to families?  Is it because they stay longer and thus turnover is lower? Wouldn't kids cause more havoc on a unit anyways?  

That's all I could think of now, could you give me your thoughts?  Also, if I should be aware of certain issues, please share!  Thank you BP community! You have been invaluable to this newbie.  

Diem 

[Jeff Kehl]

I think it depends on who your target renter is. I have a 20 unit all 1 bedrooms but it is in our downtown area walking distance to bars/restaurants. It appeals to young singles and couples and college students that want that kind of lifestyle.

I get premium rents for it for the size of units and don't have any problems finding renters.

If I had the same building in a suburban neighborhood I think I'd have trouble finding people because all the units out there are all 2-1,2-2,3-2.