i came across a 100 year old condemned victorian home in one of our historic districts. 

Working on my 4th transaction in less than 2 years, on the 11th and 12 units (Victorian duplex in West Oakland). http://www.biggerpockets.com/forums/311/topics/139795-in-contract-on-first-negative-cash-flow-deal-and-excited-thoughtsAnd here's the one I just finished..http://www.biggerpockets.com/forums/223/topics/132989-deal-success-story-in-process-cash-flow-in-the-sf-bay-areaGood luck on your investments!

I'm from Bedford Stuyvesant Brooklyn where almost every property in my neighborhood is a Victorian Style Brownstone which ARVs from anywhere between1.5-2mill easy.

The last loser multi-unit I saw was a slowly collapsing 100 year old Victorian triplex conversion wherein someone decided to skip inspections, other than that it's winner-winner-winner-winner for multi-units in our area over the last few years.I'm sure I don't have to tell you: know your rent control laws, if applicable, where you are buying!

I have two duplexes in Victorian Village that need alot of TLC from tuckpointing the exterior brick, replacing wooden box gutters, refinishing all hardwoods, updating all electric, and replacing kitchens and baths.  

Surprisingly a large amount of multi properties, ranging from 2-10 units, as well as the larger victorian style SFH. 

Purchase price: $278,000 Cash invested: $389,000 Sale price: $775,000 Restoration of a 1895 Victorian home.

The most multi-family properties here in town are in 43201 (Parts of Italian Village, Parts of Victorian Village, OSU Campus), 43202 (OSU Campus and Old North), and 43206 (German Village, Schumacher Place, Merion Village, Nationwide Children's area).

As @Gary Laterovian wrote, location is the determiner.I used to renovate old Victorians in an Atlanta neighborhood, called Grant Park, that was full of Victorians. 

Another option, although I'm not sure what the ROI would be, is adding a Victorian-type porch along the full width of the front of the house.