Class B Multifamily
Generally, product built within the last 20 years.
Exterior and interior amenity package is dated and less than what is offered by properties in the high end of the market.
Good quality construction with little deferred maintenance.
What is a Class B apartment complex?
They are usually less than 10 years old and are often new, upscale apartment buildings. Average rents are high, and they are generally located in desirable geographic areas. White-collar workers live in them and are usually renters by choice. Class B properties can be 10 to 25 years old.
What is a Class B property?
A class B property, based on the above-mentioned features, is a property that is generally older, typically has lower income tenants, and may or may not be professionally managed.
What is the difference between Class A and Class B properties?
Class A buildings also are well located, have good access, and are professionally managed. As a result of this, they attract the highest quality tenants and also command the highest rents. Class B buildings are generally a little older, but still have good quality management and tenants.
What is class A residential?
Class A. These properties represent the highest quality buildings in their market and area. They are generally newer properties built within the last 15 years with top amenities, high-income earning tenants and low vacancy rates. Class A buildings are well-located in the market and are typically professionally managed.