Selling a Multi-Family in Inman Square

If you are considering a sale of your multi-family in Inman Square, there are a number of items you will want to consider. Here are a few (but not exhaustive list) of items I consider when thinking through a sale of a multi-family:

1. Should the units be delivered vacant or with renters in place? This will depend on many factors including unit condition, lease vs tenant at will agreements in place, current rental amounts, time of year you are selling.

2. What updates, if any should be made to the property? Depending on the location, condition, and layouts of the units it sometimes makes sense to make serious updates; other times it makes sense to go with light touch updates and sometimes it makes sense to do nothing.

3. What time of year should you sell? Generally the best time to sell a multi-family is April through June time frame, but there are often other factors that could change what makes sense for you in terms of timing - for example you may have your own timing considerations or perhaps you are completing a reverse 1031 exchange in which case you may have a limited time to close on your current multi-family

4. Pricing - how you price is dependant on the high-level multi-family marketplace in Cambridge but also the hyper local Inman Square marketplace. In other words, what other multi-families are you competing with? What other multi-families in Inman Square recently went under agreement or sold? These data points will help guide us to a price point that will help draw in interest and drive price up as much as possible.

If you are thinking of selling your multi-family in Inman Square, give me a ring at 617-833-7457!