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Updated 8 months ago on . Most recent reply
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comping a multi family 2 story property.
HEY. Just ran into a problem while trying to get good and accurate numbers for a property. So we have a property that is categorized as a 2-4 unit/multi family residential. From pictures and more information, the seller stated that his home/living space was upstairs and a whole entire business was downstairs. We hooked up county records , software listings etc to get the true sqft of the home. Everywhere it says it is listed as 1,795 , but the seller stated that, they only got that specific number from the living space which is upstairs and not the WHOLE PROPERTY / DOWNSTAIRS. He stated that both upstairs and downstairs are 1700 sqft , bringing the original sqft of the entire property to 3,500 sq ft. Were in a pickle right now to decide whether he's right or completely wrong. The living space can get measured at 1700 but I don't see why nothing states the downstairs sqft. The downstairs is considered a level so the property is a 2 level property.
Someone with more knowledge and understanding please help. This is great deal if the sqft is 3,500 sqft , but if it is not, the deal will go to shambles.