Arlington County Multi-Family Properties – Investor Update
You don’t often think of Arlington County Multi-Family Properties when talking about Arlington real estate. Mmost people think of condos, townhomes, and lately, McMansions. However, there are several multi-family units around the County. Typically they’ve been single family homes that have been converted to apartments or sometimes they’re entire apartment buildings that some people either rent out or convert to condos. They’re very rare, only 4 have sold in 2012, and just under 30 have sold since 2005. They make great rental properties for investors, since many are near metros or public transit and already have certificate of occupancy issued from the county.What is a multi-family property?
It’s a multi-unit housing property, which has been divided into separate living spaces. Sometimes they can be efficiency studios, 1 bedroom, 2 bedroom, or more. Many times they look like any other house you might drive past, but the front door leads to separate apartments.
If you’re thinking of investing, please call me. I can help with evaluating your return on properties, whether it’s a multi-family or just a single unit residential property.