It really depends on the size of the loan, whether there are any businesses in the building, who will occupy the units and where the building is located, however, typically speaking about 30% down is needed for such a purchase.
I know the "it depends" parts of the answer probably aren't very helpful, but without knowing the details of the building, it will be hard for anyone here to give you a "real" answer.
The best advice? Talk to a lender you trust. If you don't have one, I'm sure you can find a good referral from one of the many experts here on Trulia, including yours truly. :-)
All the best!
I am a mortgage broker. If I can be of service, please let me know!
877-238-6324 Ext 704
I'm quite familiar with this subject as we have clients currently looking for the same type of property and have bought similar properties for ourselves. The last time we checked - last month - the loan program for investment properties was as follows;
approx $500K Max loan amount on a 2 Unit bldg
approx $645K max loan amount on a 3 Unit bldg
approx $800K max loan amount on a 4 Unit bldg
Loan programs change frequently, so if you would like some referrals for solid lenders and/or assistance with finding/buying properties, contact us at your convenience.
Lance King/Managing Broker