So a duplex or triplex where the whole building is for sale would be listed as a multi-unit. If only one of the residences in that building is for sale it would likely be listed as a condo.
No common areas are shared, there would be completely separate living areas. Multi units are appealing for many buyers, especially if you plan to occupy one of the units in the building. The rents you get from the other units would help pay your mortgage and as long as there are 4 units or less, you can finance it with a residential mortgage. Over 4 units is considered commercial and would require commercial financing.
If I can be of any further assistance, please let me know.
Barbara L. Smith
Are you in the market for a condo or an investment property? Feel free to call or email anytime! My office is in 19103, but I know the city expertly.
Eric Axelson, Associate Broker
Kurfiss Sotheby's International Realty
A Multi Family Home is traditionally separate housing units in the same building. It could be a single home with more than one unit or an Apartment building.
If you have any more questions, please contact me via email or phone.
Liberty Bell Real Estate
Office Number: 215-885-3332
Direct Number: 215-237-4147