1/1 bed/bath Fourplex w/ no laundry worth investing?

[John Kunkle]

Hey everyone so I'm a first time investor looking into multifamily properties in Charlotte, NC.  Basically I'm looking at a fourplex for 125K.  It says it has upgraded plumbing, water heaters, and electrical.  My concern is that each unit is only 1 bed/1 bath and the property has no laundry.  Is that a deal breaker? 

[Sonya Stovall]

After you figure out the current finances and if it is doable, also look at where the property may/can go long term.  I have a 4-plex all 1-bedrooms and never have any trouble renting the units.  Location is key.  It is located near the hospital/downtown area so I attract graduate Med and Law Students and they pay their rent.  This is in Jackson, MS and not a metropolis.  There are other units similar to mine, which even may be more updated in the area and the property still gets consistent tenants and attraction.  My 1-bedroom units are large compared to the market (800SF), and when I first viewed the property I liked that aspect.  Over time, I added W/D to all the units(modified the closets) and made cosmetic changes as tenants moved out.  My rents have been raised over time over $300 more/month.  So the cashflow in the beginning is not nearly what it is today, with the changes made overtime. Good Luck!