Multifamily Minute Reader Reflections: How Big Are We Buying?
We asked our 40,000+ Multifamily Minute readers about the size of their next apartment building purchase. This year, many are targeting smaller assets.
Better Financing Starts with More Options$1.2M offered by a Bank at 6.0%$2M offered by an Agency at 5.6%$1M offered by a Credit Union at 5.1%Click Here to Get QuotesOur latest survey question was straightforward: What's the size of the next property you're looking to buy?
The results are in.
Survey Results
Smaller properties appear to be in favor, which shouldn't be too surprising. Given the persistent bid-ask price in the sector, I'd imagine many investors may be willing to pull the trigger on smaller investments while waiting for better pricing opportunities on larger assets.
Of course, this survey doesn't reflect any change in preference, and we know that a sizeable portion of our reader base typically targets properties in the five- to 15-unit range.
Number of Units | Percent of Respondents |
|---|---|
2 to 4 units | 36% |
5 to 9 units | 45% |
10 to 14 units | 6% |
15 to 24 units | 8% |
25 to 49 units | 3% |
50 or more units | 2% |
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Our Previous Survey
Did you miss our last survey? A couple weeks ago, we asked about when borrowers start to look for refinancing opportunities. Most started seeking options three to six months ahead of time, and one fascinating dynamic stood out. Read our analysis.