Multi-Residential Properties

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Multi-Residential properties range from bachelorettes and row houses to low, medium and high-rise apartments all with seven or more self-contained units. To be considered a self-contained unit, a unit must include a kitchen, a bathroom and a separate entrance.

MPAC uses the income approach to value multi-residential properties. This approach looks at the annual market rental income and also considers other income that can be generated by the multi-residential property. A market analysis is completed to determine the capitalization rate, which is then applied to the net income to create a current value for the property.

Additional resources for multi-residential property owners:

Multi-Residential Methodology Guide

Property Income and Expense Return

2016 Multi-Residential Market Trends

Note: The applicable law prevails to the extent there is any conflict between this information and the current law. This information is not intended to provide legal advice and should not be relied upon as such.