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Types Of Multifamily Houses That You Need To Know

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Ten-X Commercial
Types Of Multifamily Houses That You Need To Know

If you are planning to invest in multifamily for sale then it is important to understand more about multifamily housing. This is an important category of commercial real estate that can build long-term wealth. In this post, we will explain the popular types of multifamily housing.

Apartment buildings and condominiums

Condominiums and apartment buildings are the most common types of multifamily housing. They are complexes that contain multiple units. They often have multiple floors and each floor has multiple units. The main difference between a condo and an apartment building is ownership. A condo is a unit that is individually owned in a complex, with common areas owned equally among the condo owners.

On the other hand, an apartment building is wholly owned by one owner such as a corporation. The owner then leases individual units to tenants. Both condos and apartment buildings can be bought from a real estate platform.

Townhouse

This is an individually-owned unit. It mimics a detached house; however, it is attached to other townhouses. Townhouses have multiple floors that sit side-by-side with other or another townhouse. Each of the townhouses has its own private entrance.

Duplex

This is one building that is divided into separate houses which are usually located side by side. Each duplex unit has a separate entrance. There are no common areas in the duplex.

Quadruplex and triplex

These are similar to duplexes but they have more units. Triplexes have three units while quadruplexes have four units. Quadruplexes can also be referred to as fourplex or quadplex.

Mixed-use building

These types of multifamily for sale are used for multiple purposes that can include commercial, residential, industrial, cultural or institutional uses. It is common for mixed-use properties to be configured in two ways. The first way is where commercial spaces are on the lower floors while residential spaces on the upper floors. Another way is where commercial spaces are in the front while residential spaces in the back.

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