For over 20 years, SRC Land has made it possible for people to own seller-financed commercial properties in Harlingen! There are many kinds of investments you could consider for your new commercial property from SRC Land. One investment you should consider includes buying land that can be used as multifamily properties!
Defining Multifamily Properties
Multifamily properties are residential buildings (e.g. apartments) where more than one family lives or that contain more than one unit. They are typically rental or ownership housing, and sometimes, they share walls.
When done right, a multifamily property can be a great opportunity to create a stream of passive income. But it all starts with choosing the right tract of land, and SRC Land is here to help.
What Kind of Multifamily Properties are Best for a Commercial Property?
As mentioned before, multifamily properties usually contain more than one unit within residential buildings, and choosing the best one to invest in depends on your budget, surrounding areas/cities/towns, the local need for housing, and population.
You also have to consider:
- Your monthly cash flow.
- How much a multifamily property will profit.
- How to calculate income earned from rent and fees versus expenses like building maintenance and repairs.
- Learning and memorizing your capitalization rate, which usually indicates how quickly you will receive a return on investment.
Let’s take a look at the different types of multifamily properties:
- Duplex, triplex, fourplex: These multifamily properties are buildings that house different families and include two, three, or four units. It’s usually the same building that separates the units by walls and separate entrances.
- Townhomes: These are multi-story homes that share walls with adjacent townhomes and include their own entrances.
- Semi-detached homes: Very similar to townhomes, they usually house two units.
- Garden apartments: These commercial properties are usually 3 or 4 stories high with 50 or more units. They typically do not have elevators and will always have shared yards and land space.
- Apartment complexes: Apartment complexes are usually owned by a single entity and rented out to residents. They usually offer affordable housing and amenities. Most apartment complexes include various stories or floors and can be considered low, mid, or high-rise apartments.
Your Multifamily Property Will Need Amenities
Multifamily amenities usually provide us with affordable units and housing to live in, especially during these high-cost housing markets. They may also include mixed-income housing and vary in unit sizes and amounts of bedrooms. Some multifamily properties, such as apartment complexes, may consist of a variety of amenities, such as:
- Community gathering spaces
SRC Land believes in helping you look for the best seller-financed property for sale in Harlingen! Doing so will help you begin the multifamily property of your dreams. via @SRCLand
Multifamily properties may offer a bevy of benefits and a significant amount of financial security for your future. Don’t hesitate on an opportunity that doesn’t come often. Buy seller financed land from a trusted land developer now.