Preparing Your Multifamily Property for a Successful Sale

Selling a multi-unit property requires thorough preparation to maximize value, attract serious buyers, and ensure a smooth transaction. From curb appeal and structural integrity to financial documentation and legal compliance, every detail plays a role in securing the best possible price.

Address Repairs & Property Condition

• Curb Appeal – First impressions matter. Maintain a well-manicured lawn, enhance landscaping with vibrant plants, and add a pop of color. A fresh coat of paint, power washing, and updated or clearly painted address numbers boost curb appeal and attract more interest.

  Roof & Plumbing – Check for leaks, faulty pipes, and water damage to prevent red flags during inspection.

  Parking & Walkways – Repair potholes and tripping hazards to improve safety and curb appeal.

  Building Exterior – Fix faulty siding, dry rot, peeling paint, and wobbly railings to ensure a well-maintained appearance.

  Staircases & Common Areas – Ensure stairs, balconies, and shared spaces are structurally sound and visually appealing.

Gather Essential Documents for the Listing

A well-prepared seller streamlines the sale process and builds buyer confidence. To get started, we need:

✅ Profit & Loss Statements (Last 2 Years) – A detailed breakdown of income and expenses.
✅ Current Rent Roll – Tenant details, lease terms, and rental income.
✅ Leases – Copies of all current rental agreements for buyer review.
✅ Utility & Expense Breakdown – Clarify which expenses are covered by the landlord versus the tenants, including water, sewer, gardening, general maintenance, common electricity, and repairs. Providing a detailed breakdown of these costs will help justify operating expenses and ensure transparency for potential buyers.
✅ Recent Upgrades & Repairs – Any capital improvements made within the past two years.
✅ Property Inspection Report (Recommended but Optional) – While not required, pre-listing inspections (general, termite, roof, sewer) help set realistic expectations and prevent surprises during escrow.
✅ Estoppel Certificates (Required in Escrow) – Verification of tenant lease terms.
✅ Vendor & Property Management Information – Contact details for current property managers, maintenance teams, and service providers.
✅ Tenant Issues or Legal Considerations – Disclose any ongoing disputes or material issues that could affect the sale.
✅ As-Built Drawings & Expansion Potential – If applicable, provide floor plans or information on potential ADUs (Accessory Dwelling Units) or additional units.

Key Factors That Influence Value

Understanding what drives value in a multi-unit sale ensures your property is positioned competitively in the market:

✔️ Separate Gas & Electric Meters – If there's a single meter, the seller typically covers utility costs. However, with separate meters, tenants may pay their own utilities, impacting both pricing and property value.
✔️ Unit Features – Adding a dishwasher, washer, and dryer enhances the appeal and rental demand, these upgrades can directly impact pricing and maximize returns..
✔️ Lot Size & Zoning – A large lot with favorable zoning presents untapped potential—adding units or converting a garage can increase income and property value as future income potential can significantly impact pricing.
✔️ Cap Rate & Income Metrics – Cap Rate (Capitalization Rate) estimates a property's potential annual return on investment. Cap rates vary by location and market demand—some areas yield higher cap rates for stronger returns, while others have lower cap rates, but the cap rate must justify the asking price to attract buyers.

Market-Driven Pricing & Investment Analysis

A strong pricing strategy is key to attracting serious, qualified buyers while ensuring you get the highest possible sale price:

A multifamily property’s value depends on location, demand, condition, and financial performance. Proximity to employment hubs, walkability, and amenities boosts appeal, while cap rate, gross rental income, and expenses determine investment potential. Property condition—roof, plumbing, and earthquake retrofitting—also impacts pricing. Lot size and zoning. Pricing is both an art and a science, balancing market trends and financial metrics for maximum return.

Unmatched Marketing & Buyer Targeting

Presentation and exposure are everything. Our in-house PR and marketing team ensures your property stands out to the right buyers:

✅ Professional Photography & Visuals – High-quality photos, virtual tours, and aerial shots give buyers a compelling first impression.

✅ Offering Memorandums – We create polished, data-rich presentations that speak to both visual and numbers-driven investors.

✅ Global Buyer Network – Our national and international connections link you with global buyers, 1031 exchange investors, and high-net-worth individuals. We also coordinate with 1031 exchange accommodators to match your property with qualified buyers, maximizing your chances of a successful sale.

✅ Maximum Exposure Through Strategic Marketing- We ensure your property reaches the widest and most qualified audience through:

• Targeted Social Media Ads – Precision marketing to attract serious buyers.

• Newspaper & Print Advertising – Exposure to local real estate publications.

• Commercial Real Estate Platforms – Listings on CoStar, LoopNet, and ApartmentsBuilding.com and Crexie.

• MLS & Online Portals – Featured across all major real estate websites for maximum visibility.

✅ High-Impact Visual Marketing

We showcase your property with clear, high-quality photography and HD video tours that highlight the property, the area, and investment potential—ensuring buyers see why your property is a smart investment.

Our multi-channel approach ensures your property gets seen—and sold—for the best price.

Maximize Your Sale Price with Expert Guidance

With ever-changing rent control laws, disclosure requirements, and market trends, working with an experienced multi-family specialist is key to a smooth and profitable transaction.

Selling an investment property requires more than just listing—it demands strategy, experience, and the right network. I specialize in pricing, marketing, and buyer targeting to maximize your return while ensuring a smooth, efficient sale. If you're looking for a results-driven approach without delays or guesswork, let’s connect.

Get an Expert Valuation for Your Multi-Unit Property

If you own a multifamily or income-producing property in Santa Monica, Mar Vista, Venice, Brentwood, Cheviot Hills, West Los Angeles, Los Angeles, or surrounding areas, contact Philippe Properties for a professional valuation. Call 310-422-9001 or fill out the form below to get started.