Making Smaller Properties More Competitive

[Kanika Bailey]

Hi,

My siblings and I have inherited a small duplex in Denver that we want to renovate before we sell it. Each unit is only about 700 sq ft with no garage or basement space. Any ideas on things you can do besides additions to make the property more competitive with properties in the area that are slightly bigger or that have basements and or garages?

[Brad Uhlig]

Doesn't sound like there's much you can do without spending a ton.  Storage sheds are great amenities so I agree with adding those.  Otherwise just make it look pretty.  Make sure you sell it with at least one unit vacant.  Don't lock in to long term tenants.  Having one unit vacant opens up the buyer pool to someone that may want to live in one side and rent the other.  That type of buyer is usually willing to pay more than a straight investor.  Small units are actually in high demand in Denver due to affordability.