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Updated about 5 years ago,
Duplex VS Triplex in South Jersey
Hi everyone.
I recently came across a triplex for sale in Audubon, NJ.
My team and I are not interested in actually renting out the property but are looking to wholesale to a buy-and-hold end-buyer. The property has 2 units rented out with the third needing slight repairs. We have calculated the rehab and what the units would rent for, but we are struggling to determine an accurate MAO.
We don't want to rely on cap rate seeing as the property only has 3 units, but we also cannot find any solid comps. All multifamily properties sold recently and in the area are duplexes.
I was wondering if anyone knows the value difference between duplexes and triplexes in the South Jersey market?
I appreciate any help!!!!