Apartment appraisal in the Denver metro
We appraise apartment buildings of five units or more, from small infill buildings to garden style communities. Apartment values rest on the income approach, so the report is only as good as its read of rents and expenses.
Denver has added a large number of new apartments recently, and concessions such as free months of rent are more common than they were a few years ago. We compare in place rents with what similar units are leasing for today, net of concessions, and we test the operating expenses against the property's own history and against comparable buildings. Property taxes and insurance get particular attention, since both have risen quickly in Colorado.
We appraise apartment buildings of five or more units only. We do not appraise single family homes, condominiums, or two to four unit properties.
Uses
Most multifamily assignments support financing or acquisition. We also prepare appraisals for tax appeals and estates.