Good Mid sized city with growth potential

[Alecia Loveless]

I’m currently working on a project that I anticipate selling and doing a 1031 on in about a year. I will have somewhere between $400-500,000 to roll into my new property and I’m hoping to get into a larger apartment complex with better numbers. My building now is an 8 unit that grosses $90,000.

In my current market there just aren’t opportunities for apartments in the $2M range or a little higher and I’m looking to find an area that might be larger than the current area I’m in, approximately 15,000 people, but not a large enough area that it’s a metropolitan type city. Maybe something with 50-75,000 people.

Can anyone recommend a location they know of that might have some mid sized apartments in good, mid sized communities? I’m trying to start researching places now.

Thanks!

[Najma Osman]

Hi Alecia, 

I would also suggest looking into Columbus. For an overall population, we are just under a million residents but the city itself has so many subareas and niches with smaller populations that could be a good option for you. There is a variety of apartments at different price-points. Let's chat if you would like to start looking at some or discussing your options.