Class A properties are luxury apartments.
They are usually less than 10 years old and are often new, upscale apartment buildings.
Class C properties were built within the last 30 to 40 years.
They generally have blue-collar and low- to moderate-income residents, and the rents are typically below market.
What does class C property mean?
Class C properties are typically more than 20 years old and located in less than desirable locations. These properties are generally in need of renovation, such as updating the building infrastructure to bring it up-to-date.
What is a Class C neighborhood?
These locations can sometimes be pockets within Class C neighborhoods. Or in other cases, they might be an entire area of a city or town. Typically the tenants are low-income earners and/or live in subsidized housing, although those tenants could also live in Class C neighborhoods.
What is a grade A building?
Grade A buildings are top of the line.
They are often the location of the most sought-after office spaces or residential areas. Grade A buildings are typically brand new or if not, have gone through some type of redevelopment process.
What are the different building classes?
In commercial real estate, office buildings are typically placed in one of three categories: class A, class B, or class C. Each category delineates a different level of price, quality, and amenities. However, since real estate quality varies greatly from place to place, A, B, and C classifications are subjective.