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"Present Land Use %," 1073 Form

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Z

ZZGAMAZZ

Elite Member
Joined
Jul 23, 2007
Professional Status
Certified Residential Appraiser
State
California
Does "One-Unit" include condos and SFR's both?
 
I would classify condos as 'multifamily' personally.
 
Terrel L. Shields said:
I would classify condos as 'multifamily' personally.
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“Single family” and “multi-family” refers to the number of units per owner. Generally, condo units are owner-occupied. Of course, if most of the units in your neighborhood are purchased for investment and you can document multiple units per owner, you would explain that.
 
An individual condominium unit IS a one unit dwelling. It is NOT multi-family. Multi-family refers to a property that has multiple housing units that is owned by a single entity. The people who live in apartments don't own any part of the real estate.
 
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