Laura Allen, Renter in 19103

I was wondering what a multi-family listing was? Does this mean that multiple families live in one place sharing the common areas?

Asked by Laura Allen, 19103 Thu Feb 13, 2014

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This question was asked from this property: http://www.trulia.com/rental/3131680296-Multi-Family-Home-Ph…

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Multi family means there is more than one residence in a single building, like a row home that has been divided into two apartments.

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
REMAX Access
Direct; 609-980-7593
BarbSmith321@gmail.com
http://www.GetMovingWithBarb.com
0 votes Thank Flag Link Fri Feb 14, 2014
Hi Laura, multi family means apartments, like duplexes or triplexes.

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
856.617.1212
axelson@kurfiss.com
Web Reference: http://SellingPhilly.com
0 votes Thank Flag Link Thu Feb 13, 2014
Hello Laura,
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.

Gratefully,
Alexis Of
Liberty Bell Real Estate
Agents, LLC
Office Number: 215-885-3332
Direct Number: 215-237-4147
Email: alexisjrealestate@gmail.com
0 votes Thank Flag Link Thu Feb 13, 2014
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