Hello is it a good idea to be 2-4 unit apartment in an aparment community where there are apartments all around?
It’s not a good idea to buy a 2-4 unit apartment building ANYWHERE unless you have more information than that. What is the price compared to market value? Have you done a cash flow analysis?
Mike
Howdy Purpleb:
The competition can be good or bad. If your units are filthy and too cheap you will not attract the worst tenants in the area. If they are clean and priced along the same price range you will get better tenants unless the other units have better amenities. Tenants prefer duplexes with yards over apartments so you units may rent faster and for more money than the apartment units in the area. Being close to others can be a benefit because you will get the benefit of all the prospective tenants looking at their units. Being overcrowded is a minus but so is being in the boondocks by yourself.