Understanding the value of residential properties is crucial for effective estate planning. Recently, we performed a detailed appraisal of a 20-unit residential apartment building in the City of Norwalk. This assessment focused on determining the retrospective value of the property, incorporating various relevant factors.
Key Features of the Property:
- Unit Configuration: The building consists entirely of two-bedroom units, providing uniform rental options throughout the property.
- Amenities: Residents benefit from a coin-operated laundry room and secured on-site parking, which enhance the building’s appeal and functionality.
- Rental Conditions: The appraisal noted that the units are leased at below-market rates, a significant factor influencing the property’s valuation.
Valuation Insights:
- State-wide Rent Control Ordinance: The current State-wide Rent Control Ordinance was a critical consideration in our valuation, affecting potential rental income and overall property value.
This comprehensive appraisal offers valuable insights into the property’s worth, considering both current rental conditions and regulatory impacts. It is designed to support strategic estate planning and informed decision-making.
For detailed information about our residential apartment building appraisals or to discuss your property needs, please contact us.
