We Buy Multi-Family Cleveland, Ohio

A multi-family residential real estate property may also be known as a multi-dwelling unit. It includes any class of building that has multiple units, whether in one building or multiple buildings. The units can be rented to multiple tenants or sold to multiple owners.

A multi family residential means a residential property that has multiple (more than one) unit that is inhabited for living purposes.

A common example of a multi-family real estate property is an apartment building. This class of properties also includes duplexes, triplexes, quadplexes, mixed-use buildings, condominiums, mother-in-law apartments, rooming houses, townhouses, etc. Multi-family properties are usually developed or purchased for investment purposes, as a real estate investment. Individuals then buy or rent individual units of the multi family residential real estate.

An apartment building is one type of multi-family real estate. It is usually considered any multi-dwelling unit that has 5+ units. The units can be side-by-side or stacked on top of each other, or both. Apartments are typically comprised of rental units that are rented to tenants. They are different from condominium complexes, where the inhabitants purchase the units.

The fastest way to sell a multifamily property is to sell it to a cash house buyer. Typically cash buyers will close much quicker than a market buyer (weeks vs. months). You can sell faster by skipping the lengthy process of listing the property on the market. Showings will be reduced. You may also be able to sell your multifamily faster because of a greatly reduced due diligence period with a cash buyer vs. a market buyer. At Sesa, for example, we buy multifamily properties in as little as 14 days.

Selling your multifamily for cash to a company allows you to sell it AS-IS. This is especially true if the property needs a lot of work. Buyers using traditional lender funding will require you to make repairs. This is because of either the bank or the buyer. Cash buyers can buy multifamily real estate completely AS-IS.

The cheapest way to sell your multifamily is to sell it to a cash buyer. Our company, for example, buys multifamily properties as-is and pay your traditional closing costs. This reduces both upfront costs and costs at closing. The potential cost of repairs for a multifamily property could be quite large. A cash buyer will also buy directly from you without an agent. This eliminates costly agent commissions. In the end, what your net profit is should be considered vs. just the sales price you get. You will have to consider the cost savings and added convenience of a cash offer vs. a higher sales price with higher costs. At Sesa, we buy multifamily without charging any fees or commissions. We also buy as-is so there are no repairs, and we pay for your closing costs.

Yes, you can sell your multifamily property without a realtor. There are two main options. First, you can sell it for cash to a cash house buying company like us. This method involves the least amount of work on your part. It is also most likely the fastest way to sell without a realtor unless you already have a buyer lined up. Second, you can sell your multifamily as a for-sale-by-owner (FSBO).

If you go the FSBO route just be prepared for the amount of work it can entail. This is due to the need to do your own marketing, handle all the inquiries, coordinate showings with tenants and buyers, coordinate inspections, etc.

Yes, there are cash house buying companies that buy multifamily properties for all cash. For example, we buy multifamily properties for all cash.

Yes, but with a big “it depends”. It depends on the buyer. Some cash buyers, like our company, will buy your multifamily with tenants (even problem tenants) in place.

Many buyers will want the multifamily delivered vacant upon closing. In other words, they will demand the tenants vacate when you close and transfer ownership. This may make it tricky as you will have to wait until leases are finished or pay the tenants to agree to leave.

Yes, we buy duplexes for cash. We buy multifamily properties regardless of their type, age, condition or if they have tenants or not.

Yes. We buy triplexes for cash.

Yes. We buy quadplexes for cash.

Yes. We will buy your multifamily with tenants in place. You will not need to vacate them. We even buy properties with problem tenants that need to be evicted.