HomeBlogHome SellingSelling a Multifamily Property in St. Louis Share on Like what you see? Share with a friend. Selling a Multifamily Property in St. Louis Chris Kirshenboim | May 5, 2022 Last updated August 9, 2026 Selling a multifamily property in St. Louis runs on paperwork the single family market never asks for. A buyer prices a two family or four family building off its income, so the leases, the rent roll, the deposit ledger and twelve months of utility bills carry more weight than the paint colors. Pull all of it before you list. Every lease survives the sale, which means the term, the rent and the deposit you signed are what the buyer inherits, and a month to month tenant paying under market is a discount on the building whether or not you see it that way. Occupancy inspections are the other local hurdle: most municipalities here require one before a unit changes hands, and the repair list that comes back frequently sets the closing date. Then there is the tenant relationship itself. Showings need notice, and a building tour with cooperative tenants sells for more than one where the tenants have decided to be difficult. If you would rather hand over the whole thing as it stands, leases and deferred maintenance included, how we buy houses explains what that looks like, and you can send us the rent roll for a number. We will cover five tips for selling your multi-family property in St. Louis Check the Lease When you set about selling your multi-family property in St. Louis, the first thing you need to do is open all of the leases and do a thorough review, ensuring that you're considering all of your tenants’ rights. Additionally, buyers will request access to your tenant files, so you'll want to be doubly sure everything is in order. Some buyers wish to occupy one of the units, so they may move on to another property if your leases are all solid. Prepping To compete on the market when you're selling your multi-family property in St. Louis, you must present the property in the best light possible. Take a snapshot of the property. Looking at the photo may help you focus on the curb appeal or lack thereof that a buyer would note as they scroll through listings. You’ll want to trim lawn and shrubbery, paint the building more appealing, and be sure any signage is attractive and the parking lot, amenities, or equipment is well maintained. Pay attention to door locks as well. Fumbling with a key won’t make a good impression. Documents You risk turning off a buyer if your documents aren't ready for review and in good order when selling your multi-family property in St. Louis. Your bookkeeping records must be up to date. Your yearly net operating expenses will be of much interest, outlining all costs associated with the property, as well as the income from the rentals. This report provides buyers the ability to compare your properties with others quickly and if it is worth delving further into the transaction. Provide any paperwork that reveals regular maintenance, repairs, and any warranties that may still be valid, which hold value to the buyer. You’ll also want to include documents showing the roof’s age and the major systems, such as heat or air, and the appliances in the units. Inspections It is wise to have an inspection completed before selling your multi-family property in St. Louis. Finding surprise problems ahead of selling is best. Knowing the issues that exist will allow you to decide how best to resolve them before entering into negotiations. Should the buyer remain at the negotiating table upon reviewing the inspection, now considering your property as a fixer-upper, they will likely make an insultingly low offer. It is more likely your buyer isn't interested in rehabbing a multi-family property and will walk away if their inspection should reveal a problem that the seller didn't bring to their attention previously. Direct Sale Sell directly to Chris Buys Homes in St. Louis - we buy whether or not you have tenants! At Chris Buys Homes in St. Louis, we purchase properties as-is for cash, so closing is fast. There’s no need to worry about sprucing the place up, or completing repairs, or paying holding costs while the property lingers on the market. The professional buyers at Chris Buys Homes in St. Louis will go over the numbers with you, making sure you agree that our offer is fair. We will also present to you what you would realize if you were to list your property on the MLS so that you can compare all options. Working with Chris Buys Homes in St. Louis makes selling your multi-family property in St. Louis easy! Call Chris Buys Homes in St. Louis at (314) 334-1481 or send us a message today. FAQs Frequently Asked Questions Can I sell a multi family property in St. Louis with tenants still in place? + Yes. The leases transfer with the building, so no notice or eviction is required, and an occupied building is what most income buyers are looking for anyway. Does my building need an occupancy inspection before closing? + Most St. Louis area municipalities require one and the timing varies by city, so check with the local code office early because the repair list drives the schedule. How is a two family building valued? + Mostly on net operating income and local cap rates, with condition and comparable sales as a cross check. Assessed value versus market value explains why the tax figure differs.
