- Feb 23, 2002
- Professional Status
- Certified Residential Appraiser
As a practical matter and since this is a residential property the simplest approach to this will probably be sufficient.
You have comparables with the same property interest, most likely selling with similar rents. If you have sales data for the pads (only) or the structures (only) you can draw the relationship between their income and their sale prices from those sales. If you don't have such sales in your project you might be able to find some in other projects. If you don't have ANY single component sales then you'll have to use your improved Leasehold sales and work backwards.