Selling multi family buildings

[Joshua Hall]

I am looking for information on how long it typically takes to sell multi family apartment buildings. I have been a real estate investor for 20+ years. I currently specialize in single family rentals. I am looking to expand into multi family. I am at the part of my due diligence where I am thinking about exit strategies. My question is regarding the selling of multi family apartment buildings. Specifically, is it possible to determine how long it takes to sell? With single family real estate, you can look at average days on market and sales price In a given area. From that, I can determine pretty accurately, how long it will take me to sell a property. I know that Multi family units are valued differently; Their valuation isn’t largely based on revenue as opposed to comps. Does this mean there is a different perspective when it comes to predicting how long it will take to sell a multi family building? Typically, I can sell a single family home at the right price within the time of the average days on market for other houses on that area. I am looking for the commercial real estate equivalent. Any help would be greatly appreciated.

[John Warren]

@Joshua Hall yes you can figure this out. A good commercial broker will have access to this info, as will some of the local residential agents who are more plugged into the investor space. I your agent has access to Costar, then they should be able to pull this up. Also, this is one of those things that agents that work in this space should be able to tell you from a gut level as well.