Multi-Family Rental Properties in Durham, NC
Multi-family rental properties in Durham and the surrounding areas are very popular. One advantage of multi-family properties is efficiency. It typically takes less time and energy to acquire and maintain one apartment building with 8 units versus 8 single-family homes. Multi-family properties also tend to have a lower cost per unit to maintain. Improvements that are made to the property have an impact across multiple units rather than just one. For example, when you replace the roof, it serves all units.
Multi-family properties often allow for the owner to have more control over value since these properties are typically evaluated based on their net income rather than comparable sales. For example, a small adjustment of rent, increased operational efficiency, and/or an added service or amenity can have a large impact on the property’s value.
Frasher Whaley Realty Group has a great deal of experience in helping clients, find, evaluate, and acquire multi-family properties. Contact us today and we’d be happy to help you as well.