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Updated over 1 year ago,

User Stats

14
Posts
1
Votes
Jared Ebert
1
Votes |
14
Posts

Commercial Multifamily but weird setup

Jared Ebert
Posted

I'm looking at a 7 unit apartment building.  I would call it a C property in a B location, so I think there's potential for forced appreciation.  The real hangup is the building is really a 6 unit building with Mobile Home parked behind it.  I feel like the trailer really detracts from the property/location.  If I were to purchase the property, my real desire would be to have the trailer removed.  But how can you just say goodbye to $350/month rent?  Because it's a commercial multifamily, I assume you would be losing a ton of equity in losing the income. And I don't think getting rid of it would allow me to raise the other 6 rents enough to compensate.  What would you do?

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