What is a Multifamily Property?
A Multifamily property is defined as a residential property with a minimum of two units. Duplexes are the entry level or the smallest category in multi family real estate. There is no limit to how large an apartment building or apartment complex can be. Multifamily real estate products can range from Triplex, quadplexes, garden apartments, garden apartments, multi-storey apartment buildings, bungalow courts, townhouses, and high-rise condo apartments are some examples of what multifamily properties look like.
In addition to being categorized by size and layout, a multifamily property can also be classified according to the demographic they serve. There are a range of multifamily categories. They are Standard housing, student housing, assisted living, housing cooperatives, manufactured housing, senior housing, and affordable/low-income housing are among the most common classifications used by financial institutions or lenders.
Many mixed-use properties that are combined with commercial spaces with residential units could also qualify for select multifamily financing products.
To view our list of Multifamily Properties in Ontario, visit www.MultiplexRealEstate.ca
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