Chandler, AZ Multi-family Homes for Sale

Gearing up to buy or sell a multi-family home soon in Chandler? Call Patrick O'Sullivan at (602) 842-5050. Your Chandler realty team is here to help navigate the Chandler real estate market.

What is a Multi-family Home?

Multi-family homes are properties that contain more than one private unit within one building. Properties considered multi-family include duplexes, triplexes, fourplexes, condos, and apartment buildings. There doesn’t need to be a specific configuration or layout to be considered multi-family. 

Chandler Multi-family Home Real Estate Market

Chandler offers a variety of multi-family homes for sale for a wide range of budgets. Properties range in price from $400,000 to $3 million. While multi-family homes are not the most popular housing option, there a several on the market in desirable neighborhoods. 

Multi-family Homes Throughout Chandler

Most communities in Chandler are desirable and offer plenty to enjoy. Some of the most popular multi-family home areas include Downtown, Galveston, and Silk Stocking. Each of these communities has terrific amenities and is conveniently located to get around the city quickly. 

Why Buy a Multi-family Home?

A multi-family home is an excellent investment opportunity for several reasons depending on your situation. If you’re looking to get into investing, purchasing a duplex, triplex, fourplex, or bigger could be a fantastic place to start. As long as your property is well-maintained and you can find reliable tenants, you could make enough extra income to live rent-free. As long as you can ensure that you can afford the payments without the rental income, should your suite be vacant for any length of time, it’s an excellent option to consider. If you plan on living in one of the units and renting out the other ones, you will save yourself money on the financing, as you’ll qualify for better mortgage rates. On a personal level, suppose you have aging parents you are taking care of, or you have a sick relative. It is helpful to have different suites for them to live close by while maintaining separate homes and privacy. A multi-family home is an excellent investment in each scenario, and it helps build your investing portfolio regardless of the reasons you purchased it in the first place. It’s an excellent option that all interested homebuyers should consider when looking for their next home. 

Financing a Multi-family Home

Deciding on your new multi-family home is an exciting time, but there are still plenty of details to iron out when it comes to financing your purchase. If you have cash on hand, you won’t need to worry about financing options and the available mortgage options. Working with your Chandler mortgage broker who is experienced in the different mortgage types will get you the right mortgage for your situation. 

Suppose you are planning on purchasing a multi-family home with the intention of moving into one of the units. In that case, you may qualify for the FHA loan. The Federal Housing Administration loan is an excellent option for those who are renting out the other units and want a better price on their home. This loan offers lower downpayment amounts, lower interest rates, and fewer requirements. Choosing a multi-family home is an excellent option with financing alternatives like this. 

Suppose you’re looking to purchase a multi-family home solely as an investment property. In that case, you will need to opt for a traditional mortgage. If you don’t plan on living in one of the units, you won’t qualify for an owner-occupant mortgage, so there will be the typical requirements from your bank. These types of properties are also riskier for banks, so you will need to have excellent credit, a higher downpayment, and you will qualify for typical interest rates. One benefit is that you can use your rental income generated from the property towards getting approved for the loan. 

Finally, suppose you are a current or former member of the U.S. military. In that case, there is an excellent option available to you. The VA, or Veterans Affairs loan, is an incredible alternative for military personnel. It allows applicants to put down no money, have access to lower interest rates, and have fewer requirements for approval. There will also be no need for private mortgage insurance, saving recipients a lot of money. 

Choosing a team of experienced professionals is key when getting financing for your multi-family home in Chandler. In order to have a stress-free and seamless experience while getting the best mortgage for you, opting for a great team will benefit you greatly. 

Why Buy & Sell Multi-family Homes With getMULTIfamily.com 

GetMultiFamily.com is an incredible new service that allows Chandler, Arizona residents to easily buy or sell a multi-family property. We specialize in duplexes, triplexes, fourplexes, and other multi-family properties. Our long list of happy clients have found great success since we began offering our services, and they are always thrilled about how easy and seamless the process is. When Chandler clients recommend us, we appreciate the word-of-mouth advertising, which is why we always recommend The Cap Core Real Estate Group. The group is made up of the most dedicated professionals, and they always have the best interest of their clients at heart. The team is headed by Patrick O’Sullivan, who was formerly the real estate advisor at U-Haul and has been awarded the Agent of the Year and the CCMI (Certified Commercial Investment Member) designation. Patrick has led by example and created a team that puts their client’s needs first and offers an incredible customer experience. 

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