4 Unit Considered Commercial?

[Kurt Bouma]

I've always been under the impression that 1-4 was considered "residential" and 5+ was "commercial." However, I am looking at a 4 unit apartment building today that is listed with Colliers (the international commercial broker) and the agent tells me that this is a commercial property.

The property isn't in an industrial or commercial area by any means, as it sits in the center of a single family home neighborhood.

Can anyone speak to that?

[Ash Patel]

Who cares what the broker states, its what the lender considers it.