Multifamily Buildings from 4 Plex, Triplex to Apartment Buildings
Exploring Multifamily Real Estate from 4-Plexes to Apartment Buildings, a four plex is a type of residential building that consists of four individual units. It is a multi-family dwelling that is like an apartment building, but typically smaller in size.
In Florida, a 4 plex may be found in urban or suburban areas, and they can be used as rental properties or as owner-occupied homes. Some people choose to live in a 4 plex because it provides the opportunity to live in a shared community while still maintaining a certain level of privacy.
There are a few things to consider when purchasing a 4 plex in Florida. One important factor is location, as the value of a 4 plex can be greatly affected by the neighborhood in which it is located.
It is convenient to have all your income properties in one location such as when you own a four plex, when you have to have maintenance done it will save on the cost because the maintenance crew doesn't have to travel across town.
Additionally, it is important to carefully evaluate the condition of the property and make sure that it is in good repair before making a purchase. It is also a good idea to research the rental market in the area to get a sense of what you could potentially charge for rent.
There are some 4 Plex and big apartment buildings with more units that have chosen to rent through Airbnb, VRBO, Booking, Expedia and other short term rental sites, this is very lucrative the Fort Lauderdale Hollywood area is in high demand for short term rentals with tourists.
You can get a Property Management company to take care of everything for you if you are an absentee owner.
Other than the monthly income the property will generate you'll also have Appreciation:
Appreciation for a 4 Plex in Broward County FL
By looking at sold history we found out that many of them went up in value 4 to 5 times from their original price, example:
2000 $155,000 2022 $915,000
Click on these Links if you want to see Residential Income Properties that are available for sale now, Click Here to see Multifamily Buildings for Sale or to look at other Commercial Property Strip Malls, Office Buildings, etc. Click on this Link:
Click on the Heart by the listing pictures when you like a listing, you may want additional information on it later and it will make it easier to find.
Thank you for the trust placed in me,
Antonio Ortega LLC