Answers (5)
- Danielle Malott, "DanielleMalott"
- Contributions:27
Multi family simply means the property has more than one living unit (duplex or above). Usually this means separate utility meters and will be sold as real estate that can be rented out to multiple families. A home with a guest house on the property is generally not considered multi-family. Remember that if you are looking on purchasing a multi-family property a standard residential mortgage will only apply for up to 4 units. Once the number goes above 4 the buyer will need to get commercial financing.
- Gail Mercedes Cole, "gailmercedes"
- Contributions:74
Muilt-family generally means 5 and more units. 5 or more units are considered commercial properties and requires a 5 units plus commercial loan. Residential income properties are 2-4 units and only requires residential lending.
- Philip Gusterson, "Philip Gusterson"
- Contributions:1
It can mean a headache if you don't do your due diligence: [deleted by Zillow moderator. Please see our Good Neighbor Policy for posting guidelines]
All it means is multiple dwelling units in one building, or multiple buildings in a complex. It covers everything from duplexes to apartment buildings.
All it means is multiple dwelling units in one building, or multiple buildings in a complex. It covers everything from duplexes to apartment buildings.
- Karen Ramirez, "Karen Grace"
- Contributions:7
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- Derek Zasaretti, "Derek_Zasaretti"
- Contributions:571
A property with 2 or more living units. Duplex, triplex, four family and son on.
What does multi family mean
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