Age of an Apartment Building

[Account Closed]

For those of you who currently own/ invest in Multifamily (50 units above)- what is your criteria in taking into consideration the Age of the property? (i.e. will you invest in a property that was built in 1942? or one that is 50 years old?, or just recent ones?) Any specific criteria you have regarding age of buildings in multifamily? Would love to hear your thoughts

[Andrew Campbell]

I also think it is very dependent on what market you are looking in. @Ryan Murdock is a good example. Where Bruce and I live and operate there is a lot early-mid 80's construction, but you see very little inventory built in the 70's and 90's just due to the economy at the time. 

Older isn't bad if it has been taken care of, or if you budget for the appropriate expenses. The Due Diligence period will be critical in evaluating the major systems and understanding if any of those would be required to be updated or not.  That could make or break the deal, and not something you'd really think about on a new property.