There’s painfully few ways to create alpha in the multifamily biz. The most effective can be
Creating a dope retail/restaurant scene nearby. As opposed to say individual unit renovations, this approach when executed properly works simultaneously
On many units (thousands even) at zero marginal cost. The trick is in the execution and that’s where I get excitable.
Here's a few thoughts on why regional malls are tremendous redevelopment opportunities (and why they're not):
By definition, they are regionally accessible, so there's usually a great transportation network. Most of the suburban malls are surface parked so the site work is complete on 30-100 acres. All the utilities are there
Don't be surprised if it has access to a big fiber line, too. Sometimes there will be access to pedestrian and bike trails. Most are surrounded by amenities like restaurants, hotels, and services. so far so good, but...