🏨 Motel to Apartment Conversion

[Justin Goodin]

Can anyone share their thoughts on motel/hotel to apartment conversions? I toured a vacant motel yesterday in Indiana and think this could be a decent opportunity. 
All of the units have been upgraded, new parking lot, and will have a new roof. Seems like all of the heavy lifting has been done by the owner. 
The best part is that it’s located in an A- area and is an eye sore right now. Really high traffic area and near a lot of new construction. 

We are going to get feedback from our PM on how much demand there is for studio units in the area. Any thoughts? 

I found this deal by simply driving by and stopping to talk directly to the owner 👍