Where can I find Multi-family units?

Question

So my partner and I really want our first play to be a multifamily unit.

Duplex, Triplex, Quad -- whatever.

Problem is I can't seem to find Multifamilies for the most part?  I search on homes.com and zillow and realtor.com and find a few here and there, but are their only truly a half dozen multifamily homes for sale in Ypsilanti or none at all in Ann Arbor?

Am I searching wrong?

Any advice?

Rich Weese · Answer

There are a zillion in every area. If you're having trouble finding them, ssomething is wrong, imo. Rich

Natalie Melvin · Answer

Rael, if you are looking for a non-listed mult-family properties, you need to establish relationship with commercial brokers in the area. By doing so you will have an access to so-called "pocket listings", the properties which they offer to their "inner" buyers first. Go to www.ccim.com you will find commercial brokers, property managers as well as properties. This site is one of the useful tools for your market, cap rate, vacancy, and expences research. Make sure when you contact them you are asking the information specific to building type (A,B,C),similar number of units, in the area of your interest. Hope this helps.

Joshua D. · Answer

Rael - 
Here is a directory of commercial real estate databases.  You can find other great sources like this on the sidebar of the forum or on the RESOURCES link at the top of the site.

Anthony E Russell · Answer

Rael,

Google "commercial real estate broker" + Canton, Michigan. 651 hits came up. That should give you some ideas to start with.

Much Success

Shanti S. · Answer

A quick MLS search will give you an idea of how many are on the retail market, if you want to pay retail prices...
                    
                    Local town hall, or professional list broker can provide lists of multifamily owners and mailing addresses if you want to try a direct mail campaign and try to find a burnt out or retirement ready landlord...

Larger MF's can be found on sites like loopnet but they're kind of like the MLS - 99% of them are not good deals, but they're good for getting a feel for the retail market and practicing some deal analysis
                    
                    I'm sure others will chime in with further advice!

Danny Pinello · Answer

Rael,
          Pick an area you are interested in and use realtor.com. You can sort by city, zip, # of units, etc. 
          Danny Pinello
          Property Network Solutions LLC

Rael Mussell · Answer

So I just found out about loopnet -- That's a definite big help!

Lots of commercial real estate listed there.

Where can I find Multi-family units?

Most Popular Reply