If you’re a real estate investor, chances are you’re looking for ways to maximize your cash flow. If you go about acquiring them in a smart way, multi-family properties are a great way to do just that!
As the commercial division of Asking Price Realty, TripleNetInvesting.com is part of the largest and most experienced real estate network in New York. Our brokers know everything there is to know about multi-family property investments. For example, there are several different types of multi-family properties, including:
- Duplexes, Triplexes & Four-plexes
- Apartment Complexes
- Student Apartments
- Apartments for Seniors
- Affordable Housing Buildings
- Condominium & Townhome Complexes and Co-ops
There are important differences between these various types of multi-family properties. For example, if a multi-family property is bigger than 4 buildings it’s considered commercial rather than residential and has different mortgage and tax requirements, making it a much different type of investment. Here are some other basic differences between multi-family properties:
Duplexes, Triplexes & Four-plexes
These properties consist of two to four units within a single building.
These properties consist of 5+ units within a single building. In addition to apartments, they also usually offer common spaces such as a lobby, lounge, laundry room, deck, parking area or a gym.
Similar to a standard apartments, these properties cater specifically to students. They’re located near a university and offer amenities like bike lockers or Wi-Fi that attract student renters.
Apartments for Seniors
These types of properties cater specifically to older adults. To be competitive they usually offers amenities that enhance the quality of senior life such as a cafeteria, TV room, game room or a spa.
Affordable Housing Buildings
These properties cater to renters who can’t afford market rent. Often there are subsidies, grants or credits available for qualified investors who own these properties.
Condominium, Townhome Complexes and Co-ops
Normally these properties are divided up into individual unit owners. But some developments allow a single owner to buy multiple properties and use them as rentals. This can be a good investment since the HOA often maintains the buildings, grounds and common areas.
If you’re interested in buying or selling multi-family properties, contact us at TripleNetInvesting.com. As Asking Price Realty’s commercial division, we’re part of New York’s largest, most experienced real estate network. Our brokers are multi-family property experts and they’re looking forward to helping you today!