MULTIFAMILY PROPERTY APPRAISALS
Multifamily Property Appraisals
We appraise a broad range of multifamily facilities, including housing for families, seniors, and students. These existing and proposed apartments often include specialty financing arrangements and low-income housing tax credits (LIHTC). We are presently performing housing assignments in 12 states.
AFFORDABLE AND TAX CREDIT HOUSING
We have completed affordable housing assignments since 1990 throughout the eastern United States. These properties often have LIHTC or USDA/RD funding and are between 10 and 120 units. The tax credit housing program first began in the US in 1986 and has proven to be more desirable in almost every way compared to past housing programs. Nicklas King McConahy has completed thousands of assignments in various programs and is positioned to continue to assist clients as the need for such housing broadens.
This housing classification provides special challenges due to the ever-changing college enrollment and housing supply-and-demand pressures. Certain components of personal property are carefully examined, as well as management, insurance, and maintenance issues. Such assignments are most often for financing, but are also for tax assessment appeal, estate, or litigation purposes.
By 2035, the US is expected to have over 50 million households headed by someone age 65 or older. The current housing supply is not well-suited to address the needs of this growing senior demand. We are performing appraisals of more housing facilities that address the physical accessibility, affordability, and access to medical and other services
At Nicklas King McConahy, our multifamily property appraisers bring their expertise to:
- Campuses and Student Housing
- Senior Housing
- Subsidized Housing
- Integrated Plan Housing
- Tax Credit Developments
Reports from Our Multifamily Property Appraisers Comply with all Federal and State Requirements, and include:
- A description of the property and its locale;
- An analysis of the “highest and best use” of the property;
- A cost analysis, if appropriate;
- Information regarding current real estate activity and/or market area trends; and
- An analysis of income potential.
What You’ll See on Our Multifamily Property Appraisal Report
Nicklas King McConahy provides a very detailed appraisal report that includes:
- Details about the subject property, along with side-by-side comparisons with similar properties;
- An evaluation of the overall real estate market in the area;
- An evaluation of the multifamily market in the area for rental rates and occupancy
- A description of the subject neighborhoo; and
- A credible value conclusion