[quote=sdrealtor]Small complexes in urban core south of the 8 usually built in 80’s. There are usually a few owner occupants in each that effectively act like unpaid on site property managers. I prefer smaller complexes as they keep close eye on maintenance and fees stay low? Flipside is tough to finance as they dont maintain enough reserves. Not where many of us would choose to live but drive down the 8 and count the jobs in all those buildings, malls, colleges, stadiums etc. everyone’s gotta live somewhere.[/quote]
Considering the state of finance right now, I would go with a medium to large complex (over 20 units).
If they can be financed, then there is a greater upside potential (people will pay more if they can borrow more) and active HOA’s tend to keep complexes more desirable for tenants. I pull a lot more rent from larger and professionally run places that I manage.
Also, these places will be far more likely to see a price increase.
The caveat that sdr obliquely refers to (high HOA fees) are a concern. However, a savvy owner can mitigate that through research and advocacy.
