When buying a multiplex (6 or more doors).......

[Jamilah Khalil]

I was recently approved to purchase my 2nd multiplex, my first investment property which I purchased in June of 2018 is a triplex located in Fort Lauderdale which is currently listed on multiple STR portals @ 85% occupancy!!

I've been doing STR for nearly 10 years however 9 of those years were in Seattle and in Germany with zero experience with BEACH locations.

I would really appreciate some advice about my 2nd investment property which will most likely be a multiplex of 6 or more doors. Here's the thing that I'm not sure about:

I'm interested in purchasing a multiplex that will hopefully be 6 or more doors and no more than a block or two from the beach. 

The STR industry is all about the daily rate, the location, the amenities & the reviews but my experience in the STR industry has always been in climates that are wet & cold. ;)

Question: what would be more advantageous from a STR perspective when buying a multiplex close to the beach to look for 1/1 vs let's say a 2/1 or 2/2,3/2 etc?

I've looked at comps on all the STR portals to see which gets booked most a 1/1 or a 2/1 for example. Also looked at STR comps for daily rates to see what is more profitable but can't seem to make head nor tail of it unfortunately.

If I were to take a guess I would say studio's & 1/1 are probably are more profitable for us owners and multiple bedrooms being more profitable for the STrenter!?!

Any help or advice would be great. Thanking you all in advance :)

-Jamilah