What Is Important When Buying A MultiFamily Home in Danbury,CT

By
Real Estate Agent with William Pitt Sotheby's International Realty CT RES.0783448

Purchasing a multi family home in the Greater Danbury area does offer some advantages. You can collect rent from two or more apartments. However, unlike purchasing a traditional single family or townhome, there are additional things to consider.

-Property condition. Generally speaking, most where built prior to WWII, so they are generally 60+ years old.  I would highly recommend a building inspection as part of your terms and conditions on an offer. 

-Lease information: Find out long how the tenants have been there, if there's any sort of signed lease, what they are currently paying. Based on the information, we can see if the current rents are fair if there is potential to have the rents go higher. We would also want to how much security deposit was given by the tenants at the signing of their lease.

-Parking: Whethere is a detached garage, unpaved parking area or paved driveway, or if there is on-street online, we will have to take into consideration on the property's value.

-Laundry: Whether they are in each apartment, located in the basement or there are none available on site.

Personal Property: A clarification What appliances are owned by the seller & included with the sale, what is owned byt eh tenant.

-Utilites; Does each apartment have separate utilities or there is only one furnace or hot water heater shared between the apartments?

Are you considering purchasing a multi family family home in the Greater Danbury area of Connecticut? Buying or selling, help is here. Please contact me to discuss your goals & property needs. I look forward to hearing from you-Jon.


Posted by

Jonathan Hall, Realtor Serving Greater Danbury & Candlewood Lake with William Pitt Sotheby's International Realty
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This information is provided by Jonathan Hall,Realtor  with William Pitt Sotheby's International Realty in the Greater Danbury & Candlewood Region of CT. For additional information, please call him at 203-417-0523,203-796-7700X305 or email me at danburyrealestate@gmail.com . Unless indicated, all content is the property of Jonathan Hall. If you would like to use any of this information, please contact me for permission. He is a licensed CT Salesperson License #RES.0783448 with William Pitt Real Estate LLC License # REB.0751698. His office is located at 112 Federal Road,Danbury CT 06811.

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Jonathan Hall

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