Market analysis of surrounding apartment buildings

[Patrick Hiti]

Hi BP community! I am interested in buying an apartment building (~30 units).  I notice the neighborhood has quite a few other apartment buildings within a one mile radius.  What is the best way to get data on these surrounding apartment buildings in terms of vacancy rate, rents, demographics, etc?  I know I could call each building individually and pretend to be an interested tenant and ask some of these questions, but I was wondering if there is a better process?  I would love to hear your feedback.

[Tony Talamas]

@Patrick Hiti Yes, they are different. Just google something like "multifamily commercial real estate appraiser mill valley ca" and you can reach out to appraisers. Some may not help but others will share info with you. A property manager active in that area will help as well. Property managers would be a great resource. Depending on your experience, you may want/need to engage a third party manager anyway. So getting to know a few would be beneficial and they will share with you what they know about the market.