GUIDE
Selling an apartment building
Unit count, occupancy, and the rent roll, for an owner exploring options for an apartment building in Northern New Jersey.
The rent roll is the story
Anyone looking at an apartment building will ask how many units are occupied, what the leases say, and what the building needs. A vacant unit is a fact, not a reason to leave it off the form.
Say whether you are the owner, a partner, or a representative. Title that is split needs to be named early.
Do not borrow a house’s tax label
New Jersey’s Graduated Percent Fee applies to listed property classes. The Division of Taxation describes commercial property other than industrial or apartments as one of those classes. An apartment building may sit outside that supplemental fee. The Realty Transfer Fee is separate. A lawyer or tax adviser applies the current schedule.
We do not quote a cap rate or a price on this page. Bring the value range you have in mind, including whether it is above $1,000,000.