Who would live in a fourplex ?

[Jeff S.]

My current REI goal is to buy and owner-occupy a fourplex. I totally get the numbers. But I still feel confused about the rental market.

My big question: 

WHO would choose to live in a fourplex? Who ARE those guys?  ( BTW, Name that film....)

In my market (Colorado Springs) it seems like anyone who could qualify for a fourplex unit could equally well just rent a unit in a big apartment complex.  In a complex, they would get ammenities like a pool, clubhouse, covered parking, and so on. No way I (or any plex owner) could compete.

The fourplexes I've looked at tend to have a rough feel to them : driveways/parking areas have deteriorated (or no) paving. Interiors are really dated. And yet vacancy rates are low.

So what is the appeal?   

In some areas, I've seen people parking their truck (always a truck) on the grass. I've seen garbage (mattresses, furniture, etc) piled up around the dumpster.  No apartment manager would allow that.

So I'm starting to wonder if there is a trade-off:  "I'll live in a fourplex (instead of an apartment complex) as long as I can be more relaxed about junk, behavior, tenant screening, etc."

Or am I missing something ? As a fourplex owner, what is the compelling advantage I could offer to a potential renter? 

[Eric Brandt]

Every person has a different need and want in regards to their housing. For every person that may be attracted to the amenities of a larger building there is the person that wants nothing to do with a public pool and 200 neighbors.