I am looking for a small apartment building - 16 to 20 units. Does anyone know where I might find listings for such property? Or do I need to work directly with a commercial real estate broker? Unfortunately, the MLS at realtor.com just goes up to 4 unit properties.
not sure i can answer your question, but…
i know of some 4-plex’s, they are not listed but here’s the details.
they are all 2/2’s rental income is 3k/month/building.
asking price is 225k, this may me neg. if multiple offers are made.
there are 5 of them, i believe all on the same street.
there have been 3 similar properties sold in the last year
if i rember right they sold at…190, 202, 225, i will verify this.
i will do some checking around on answers to your question as well.
#1: 11 units, all 2/1’s, rents for 525/unit, asking price 475k
#2: 14 units, 7 1/1’1 rent for 525, 7 2/1’s rent for 625/unit, asking 625k
#3: 6 units, have to check some more on unit sizes, income is 51600/yr
i’ll keep u posted.
If you’re looking for multi-family apartment property listings, commercial brokers and loopnet are two great places to start.
In my experience, though, you’ll find he best buys going direct to owners. For that service, I like prospectnow.
Hey David, where are you looking at MF properties? I recommend checking out the largest brokerages in the area to see who the leaders are in the local market. The reason why I say check the brokerage based on the market because some have more exposure and experience than other ones so it is important to work with the leader.
I recommend loopnet,it has exactly what you are looking for.
As previously noted, Loopnet.com is a fantastic source for commercial properties. Let me know if you would like assistance with you search.