How do SFH converted Multifamily appraise

[Tyler Quick]

I'm looking to purchase a property and possibly convert into Multifamily but I'm needing to know how run comps on a SFH converted into Multifamily, do I run comps for SFH in area, do I look at cap rates, I am in Midwest market and I know cap rates generally run higher , but needing to get general idea of what ARV will be

[Steven Goldman]

The appraisal will compare the final number of units to other recent sales of multi family homes with the same numbers of units. Here is anarticle that discusses valuing multi family properties.

https://apartmentpropertyvalua...

Good luck. When making purchase decisions always base them on the most conservative value.