Less sophistication is required to own and operate. Broad rental markets. A utilitarian demand exists because people need places to live. Variety of apartment sizes and prices allows various types of investors to enter the apartment ownership market. Responsiveness to entrepreneurial efforts.
Professional management is usually available, but at a cost.
Not having key or anchor tenants may be an advantage. Institutional and seller financing availability. Deferred maintenance can be extremely costly and detrimental to achieving investment objectives. Ratio of land to improvements affects the amount available for depreciation, and this affects the tax benefits associated with the property. If the owner is required to pay utilities, it will substantially affect the expenses connected with the property.