Prospective fourplex analysis

[Randall George]

Upon searching for my first fourplex and investment property in Albuquerque, NM, I came across one worth consideration. The problem I have is i'm not sure if the fourplex would be worth my time and money to renovate the interior of all four units. 

The fourplex was listed as a "turn-key" rental operation, but I am having other thoughts on this. The unit I was shown looked decent, but needs a kitchen renovation and all the flooring in the 750 sq. ft. unit needed to be replaced. Long story short, i'm looking at $5,000 in renovations for each unit with a grand total of about $20,000 for all four units. The property is listed at $169,000 which matches other similar fourplexes in the area that have recently sold. The units are rentable for the most part besides the kitchens that are original from 1978 and disgusting carpets that need to be replaced.

I would like to know if the fourplex is worth my time and money to renovate. Will interior renovations reflect on its value given it is in a "Class C" neighborhood? I would like to see the property valued closer to $200,000, but i'm not sure if updates alone would make this possible. 

On an unrelated note, the current tenants are on month to month leases. Is this better in a "Class C" neighborhood?