Is it commercial or is it residential?

[Eric Kristt]

So, I’m looking at a large house in my local area that has 5 units with 5 separate electricity meters. The MLS is marketing it as a multifamily residential property and was valued based on comparable homes. I was curious if banks or loan companies would still consider this residential, since its technically has 5 units? And if not, is it possible or beneficial to convert the house into a commercial property so I could raise the NOI and increase it’s overall value? Please help! Thank you