Mutli-Family

Economics or affordability of housing forces many to rent. Apartments are a basic necessity. This creates the most competitive market place in the Commercial/Investment field. There are more apartment buildings than all office, retail and industrial. Present economics of housing indicate that demand for apartments will not only continue to be strong but will probably increase and that the value of existing properties should increase noticeably.

Types of Apartment Buildings

• Garden Apartments - One and two storey buildings, often a single family type setting.
• Walk-up Apartments - Three to four storey buildings, but no elevator; usually only two or three different types of units.
• Mid-Rise Apartment - Six to ten stories serviced by elevators, usually inner city or dense suburbs.
• High-Rise Apartments - In excess of ten storey buildings; underground parking, serviced by elevators and security.

Property Information

Information which should be gathered and assembled from visiting the property and interviewing the Seller.

1. Location - Obtain the address and legal description.
2. Site Information
   1. Lot dimension.
   2. Survey, which shows the location of improvements and any additions.
   3. List of all municipal services available to the site.
   4. Topography of the site.
   5. Describe any fencing or other outside facilities.
   6. Describe the landscaping, driveway, easement and exact zoning designation for the property. Look for any exceptions, which restrict the current or future use. (g) Building Construction.
3. Number of Stories.
4. Age of Building.
5. Type of construction (wood frame, concrete).
6. Exterior finishes.
7. Type of windows.
8. Age and type of roof.
9. Basement (common, full, crawl, partial).
10. Condition of inside and outside of building.
11. Building Systems. Check all systems whether it be mechanical, electrical, heating, hot water, domestic water, supplies, fire code, security system and entry systems.