Increasing value of multifamily properties

[Oladimeji Sonibare]

Hey, All.

I'm looking to purchase a mid-sized multifamily property with a partner. He's providing the bulk of the funding; I'm analyzing the deal. Where I'm stuck is figuring out how to add value. I understand that MF's are priced according to their NOI. What are some creative ways to increase cash flow/reduce expenses, in your experience?

Sb: These properties already come with washer/dryer sets and if you know of a way to find MF deals for LESS instead, you’re also welcome to respond.


Thanks a lot!

[Karl B.]

People like ease of life. Are there dish washers in each unit? If not, add them and charge $30 more per month. You can also upgrade receptacles in each unit so a few have USB port chargers for laptops and phones. 

Some other cheap ideas to make tenants happy: add some outdoor furniture so tenants can enjoy the nice weather and socialize with one another. Especially with smaller units, tenants will appreciate being able to have meals outside.