Buying or selling a multiple unit residential property? Experienced investors know that there are significant differences between single-family and multi-family appraisals; they are not interchangeable. Single-family residential appraisals typically follow the market approach of valuation. Multi-family properties may follow the market or cost approach, but most often use the income approach. With the income approach to valuation, fair market rents are determined, based on unit size, and compared to other units in the market.
Global Valuation has appraised numerous multi-family developments including hi-rise luxury condominium towers, rental apartment towers, senior housing, independent living, assisted living, memory care and nursing homes.
All Global Valuation Appraisals and Market Studies are prepared by State-Certified Appraisers and designated members of the American Society of Appraisers. Reports are completed in accordance with the Uniform Standards of Professional Appraisal Practice. (USPAP) and or the International Valuation Standards (IVSs).
Reports are prepared using verified market information. Some of our top licensed sources include:
- CoStar – verified market data
- Price Waterhouse Coopers (PWC) Real Estate Investor Survey.
- PKF/CBRE Trends in the Hotel Industry
- Marshall & Swift Cost Data/Core Logic
- Argus DCF Financial Software
- Adobe InDesign
- IBIS World Industry Reports
Examples of Multi-Family Appraisals & Market Study assignments follow:
750-unit luxury hi-rise condominium tower, Jaco, Garabito, Puntarenas, Republic of Costa Rica, Central America
114-unit luxury, hi-rise condominium tower, Charlotte Club, Charlotte, North Carolina
242-unit luxury hi-rise rental apartment tower, South Beach Street, Daytona Beach, Florida
250-unit luxury hi-rise condominium tower, West Palm Beach, Florida
CLICK HERE FOR A REPRESENTATIVE LIST OF MULTI-FAMILY APPRAISAL ASSIGNMENTS