Multifamily Age of Building

[Steve Weinstein]

I am currently looking at a 10 unit multifamily to purchase.  All around looks like it is in solid shape.  Of course I will get it inspected.  It was built in 1952 which is a major drawback for me.  All other aspects look good.  How much does that weigh into a purchase?  Would you purchase at all?

[Kenneth LaVoie]

I live in Central Maine and 1952 is my NEWEST building. I had one that was built in 1790, 30 years before Maine became a state (so this building was built in Massachussets originally). I think how it factors is determined by area. Here, it's a given. EVERY building is old. It's an old mill town. But I bet it depends on what the average age of buildings are in your area. I've had very good luck with mine BUT have had some very strange and expensive things to do (sills, leveling, joining two apartments only to discover it used to be two buildings that were joined and the floors were 36" different levels!) 1952 though...piece of cake! If I had to GUESS, it's probably more solid than anything you'll find built from 90 on .