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Updated over 4 years ago on . Most recent reply
Hotel conversion to apartments
I have a couple of opportunities to buy nice 1970s hotels for $15-20k/door. The rooms are large enough to convert into studio and 1 bedroom apartments.
I would love to talk with those who have done this to discuss your experiences.
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Greg Dickerson
#2 Land & New Construction Contributor
#2 Land & New Construction Contributor
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Greg Dickerson#2 Land & New Construction Contributor
#2 Land & New Construction Contributor
- Developer
- Charlottesville, VA
Originally posted by @Erik Hatch:
This can be a great strategy depending on location and cost to convert. You can also run the extended stay model and charge weekly and monthly or more long term. This is sort of a micro apartment / short term rental play. One thing to pay attention to is zoning. You want to make sure there are no issues with city or county regulations.