Buyers will like your openness, honesty and like that someone else loved that home. Deaths within 3 years must be disclosed. Again, I would disclose it, particularly since it is an apartment over 4 units and not likely an owner occupied buyer who won't care. I would also disclose it to tenants.
Curt V. Schultz, REALTOR-Architect
"Death in the rental unit.
"If a prior occupant of the rental unit died in the unit within the last three years, the owner or the ownerâ€™s agent must disclose this fact to a prospective tenant when the tenant offers to rent or lease the unit. the owner or agent must disclose the manner of death, but is not required to disclose that the occupant was ill with, or died from, AIDS. however, the owner or agent cannot intentionally misrepresent the cause of death in response to a direct question."
Dilbeck Realtors ~ Christies Great Estates
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If your state has a law that requires manadatory disclosure then disclose the death to the requirements of the law. Now what about those states that do not have a MANDADTORY disclosure law? Just because there is no manadatory disclosure law does not mean you do not have to answer it. How about as a real estate agent or private investor following their your own moral responsibility, or code of ethics?
You may be a real estate investor, or licensed professional, you may not believe in the super natural or be religious, however potential buyers will be and are. Perhaps your client or potential buyer has recently been through something tramatic pertaininig those events or even had "paranormal activity" at any of their previous residences? If you are afraid to lose a potential sale because of the disclosure of murder, death, suicide, hauntings. Then, in my humble opinion, you have very low morals or ethics.
You need to check the state laws on stigmatized properties. In Massachusetts you do not need to disclose deaths of natural causes, but rather only when there have been murders. Hope this is helpful.
You should disclose to prospective tenants of that unit about the death for 3 years. You might want to notify the tenant's if they don't already know as perhaps they had a friendship with the tenant but legally you should only notify prospective tenants of that unit.
The Carrabba Group
Keller Williams Hollywood Hills
Jason Stevens, GRI,ABR
Kevin Flynn Realty, Inc