Would you buy a 4-unit apt building w. only 1bed units(Edgewater)

[Mike A.]

An investor friend of mine offered to sell me his vacant four unit 1-bedroom building.  All the tenants moved out and he fixed each unit up. He and his wife want to get out of the landlording business, and asked me if I'd like to buy it.  I'd normally jump, but I've owned 1-bedroom units before, and granted, it wasn't Edgewater, NJ, but it was other areas which seemed hard to fill.  the price is 1.2m for the four unit building as well

[Sandra Andrews]

I wouldn't be afraid of the fact that the building only has 1-bedroom units, assuming the location is good.  If you are within walking distance to restaurants and shops, then 1 bedroom apartments are very attractive to young professionals.  I have a few myself and I've found them to be very easy to lease.