We buy apartment buildings too!

We don’t just buy houses; Anna Buys Houses also buys apartment buildings with up to 160 units in towns with growing economies and populations between 50,000 and 250,000, primarily in MT, WY, SD, and NE. We typically buy Class B and C* multi-family properties in Class A and B** neighborhoods where we can provide added value. We can take management of the property off your hands and provide needed renovations. If you are a landlord who is ready to sell, regardless of your reason, we hope you will reach out to tell us more about your situation.

We are multifamily cash buyers who purchase apartment buildings as-is and provide a flexible deal structure that works for YOU!

Our Approach to Buying Multi-Family Properties

Flexible Deal Structures

Do you want to sell your apartment building without investing your time or money in repairs or renovations? Can you relate to problem tenants, overwhelming maintenance, property in need of repairs (big or small), or are you simply tired of being a landlord? Tell us about your situation and we’ll work with you!

Each of our clients has unique needs and structuring our terms creatively often allows us to present a good solution where everyone comes out ahead. For example, if you want to continue receiving income from the property without the headaches of managing it, while reducing capital gains, we can talk about a payment structure spread out over 15-30 years. If you want to know how to sell an apartment building with flexible terms that work for you, contact us today!

We are available to answer any questions you have about our apartment buying process or how we can help with your unique situation.

Our Process for Buying Apartment Buildings

Step 1

Contact Us

We start with a phone call to understand your property and goals for selling.

Step 2

Property Analysis

We crunch the numbers based on your rent roles and expenses to evaluate the asset’s performance.

Step 3

Get Your Offer

We send you a Letter of Intent (offer). This is the fun part, where we identify what we each need to make the sale a win-win.

Step 4

Agree on Terms

When we agree on terms, you’ll receive our contract. We’ll visit the property and schedule inspections.

Step 5

Close!

Once inspections are complete, we’ll close based on the terms and timing in the contract.

Here’s how we arrive at your offer

The value of commercial properties is determined by their economic return. We will be looking at the income minus expenses to determine your Net Operating Income. The offer is based on meeting our standards for Income per Door, Cash on Cash Return, and Return on Investment. We will offer the best price we can, based on meeting these standards. There are lots ways to be creative with our terms to meet your goals while meeting our net income requirements.

There’s zero obligation when you reach out to Anna Buys Houses – simply contact us to get the ball rolling. We close on a timeline that works for you, whether you need to sell quickly or need a bit more time. We buy multi-family properties as-is, relieving some of the stress of selling apartment buildings. If you’ve already contracted with a broker, we can work with them to keep costs low.

See how it worked for one landlord

This is a 5-plex we purchased in York, NE. The seller wanted to simplify his life and not manage rental properties any longer. However, he was concerned about one of his long-term tenants and wanted to ensure that he would not be displaced. We visited the apartment building and extended a cash offer 48 hours after seeing the property. The seller made a modest counteroffer, which we accepted, and we closed on a date he selected, one month later. At the time of the sale the property had 2 vacancies. We decided to renovate the empty apartments (see kitchen renovation photos below!) and keep it as a rental property. We were able to honor the commitment to ensure the long-term tenant wasn’t impacted by the sale.

Terms Defined

*Classes of properties are mainly determined by location, age of the building, occupancy, and amenities offered (e.g., fitness center, swimming pool, covered parking, proximity to parks, good schools, shopping, etc.). Class B properties are slightly older and in need of some light renovation. They typically have lower vacancy rates and longer-term tenants. Class C properties are often 30-plus years old and in need of significant renovation, including structural, mechanical, a new roof, etc. They typically have higher turnover.

**Class A neighborhoods have higher property values, are in close proximity to desirable amenities, have lower crime rates and mainly owner-occupied homes. Class B neighborhoods are more affordable and tend to have more rental options than Class A neighborhoods, with similar proximity to amenities and low crime rates.

***A 1031 exchange allows an investor to swap one investment property for another similar property to defer capital gains.