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Updated over 8 years ago,
- Investor
- Saint Louis, MO
- 1,652
- Votes |
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Condo vs. Apartment Unit Value Comparison. Should I convert?
Hi All!
So I'm looking at whether I want to buy this apartment building or not and so far most of the recently sold units were condos.
I'm wondering what the value comparison is for this 3 unit multifamily is...
Say we have 2 building for sale that are identical. both are 3 story (1 unit on each floor) buildings
Building A is just a multifamily building sold together as an apartment (for rentals)
Building B is comprised of three separately taxed and parceled units.
If we consolidated the value of each "condo" in building B plus the common areas and got a number of $600,000
What can I expect the value of Building A to be? Will it be the same, more, or less?
Also if I may ask you to give me a good idea of what you think it will be. I hate vague answers so please if me your opinion. (like A would be 500,000 or I think A would be 80% of what B is worth)