Multi-Family Properties / Transactions

Sperry Van Ness multi-family professionals are exceptionally well-versed in the unique trends and elements that shape successful multi-family transactions. With access to local, national, and international market industry trendsand data, Sperry Van Nessprofessionals can provide the knowledge to help you make truly informed decisions and design the ideal real estate solutions that meet your particular needs. In addition, our professionals can leverage their relationships with fellow commercial real estate professionals to access a larger pool of potential investors and tenants.

Sperry Van Ness professionals will help you maximize the value of your assets prior to sale through property rehabilitation and marketing. If you are purchasing a property, they will assist you in making a well-informed and profitable purchase. For owners of multiple properties, Sperry Van Ness professionals can help objectively evaluate each property based not only on current market conditions but future trends for each specific location. By completing transactions in in a wide variety of commercial real estate markets last year, Sperry Van Nessmulti-family professionals are well versed in the anomalies of every market and are ready to assist with your transaction.

Sperry Van Nessprofessionals will assist you in any of these services:

• Acquisitions
• Dispositions
• Consulting
• Management
• Appraisal and other Valuation Services
• Architectural Planning and Design
• Property and Facilities Management
• Strategic Real Estate Planning
• Due Diligence and Feasibility Studies
• Market Surveys and Analysis
• Investment Analysis
  

  Multi-Family Primer

  Investors should always ensure that any potential property is properly zoned for a multi-family dwelling before agreeing to purchase the property. It is not uncommon for some property owners to make modifications to existing structures in order to accommodate additional families, without the express, written permission of the local zoning authorities, in an effort to circumvent paying additional property taxes.

  A very common error made by new investors of multi-family property is not taking competitive and comparable neighborhood rents into consideration. Higher rents typically result in prolonged vacancy periods, increased expenses to market the unoccupied property, and eventually, higher turnover rates. As a results, investors are unable to effectively plan for vacant dwellings, and should have adequate resources to cover mortgage, insurance as well as utility payments for these vacant units. A smart investor will budget for at least two month’s vacancy per unit per year, during high demand periods, and a minimum of four month’s vacancy per unit per year, during periods of anemic demand periods. Sperry Van Ness is dedicated to helping multi-family investors find reasonable and viable solutions for their multi-family unit needs, whether buying, selling or reconditioning. Don’t go it alone and make costly mistakes, get dedicated professionals on your side.