Updated almost 4 years ago on . Most recent reply
Finding the ARV for a 5 unit Multi Family
Hello bigger pockets family. I have a question. I recently just a put a 5 unit multi family property under contract here in Illinois (a hour away from Chicago) to possibly wholesale. The owner had it appraised and the appraisal came back at $120k. I put it under contract for 70k. The 5 unit multi family needs a lot of rehab work to be done. The problem I am having is that the 5 unit multi family is located in an area where there is mostly single family homes. So when I go to look up the numbers to find the ARV nothing has recently sold like the 5 unit multi family. I need help figuring out the ARV for this property. Does anyone have any suggestions?