how to check comps for a 23 unit apartment building

[Sam Shah]

When trying to evaluate a 23 unit apt unit deal, how do I check for comps? I'm checking loopnet recently sold history around the area. Do I simply just look at recently sold multi and check their cap rate? Is there anything else I should compare as well?

[Bryan Wallace]

When doing a valuation, comps are not as useful for something of this size. An appraiser will primarily use the income approach, not comps, to provide an opinion of value.