How to Sell a Multifamily Property in Michigan – Shane Parker – S&P Realty

by Shane Parker

Selling a multifamily property — whether it’s a duplex, triplex, or apartment building — requires more strategy than selling a single-family home.
You’re not just selling a structure; you’re selling an income-producing investment.

At S&P Realty, we specialize in helping Metro Detroit investors and property owners sell multifamily assets for maximum returns. Here’s what you need to know before listing.

💰 1. Know Your Numbers

Investors don’t buy emotions — they buy cash flow.
Before listing, gather your property’s key financials:

Current rent roll
Lease terms and expiration dates
Vacancy rates
Operating expenses (taxes, insurance, maintenance)
Utility setup (separate or landlord-paid)

From there, we help calculate your Net Operating Income (NOI) and Cap Rate, which are the two most important numbers buyers use to value multifamily deals.

🧠 Pro tip: Higher NOI = higher value. Tightening expenses or raising rents before listing can dramatically improve your sale price.

🏗️ 2. Handle Tenant Situations Properly

If the property is tenant-occupied, communication is key.
Notify tenants respectfully and comply with Michigan landlord–tenant laws before scheduling showings.

Buyers often prefer buildings with stable tenants, so updated leases and reliable payment histories are a major selling point.

⚖️ Pro tip: Avoid vacancy before closing if possible — occupied units with strong rent rolls help appraisers and buyers justify your asking price.

🏘️ 3. Market to the Right Buyer Pool

Your audience isn’t traditional homebuyers — it’s investors, developers, and portfolio owners.

That means marketing your property on:

CREXi
LoopNet
Costar
Facebook and Google investor networks
Targeted buyer email lists

At S&P Realty, we use professional financial flyers, rent-roll summaries, and aerial drone photos to attract qualified investor interest from across Michigan and beyond.

📊 4. Set the Right Price

Multifamily properties are valued differently than single-family homes.
Instead of comparable sales alone, we factor in:

Cap Rate analysis (based on income and expenses)
Market demand for units in your area
Condition, location, and tenant quality

We’ll prepare a commercial-style CMA and proforma that positions your building competitively while appealing to serious buyers.

🏦 5. Prepare for Buyer Due Diligence

Investors will request detailed documentation — be ready with:

Rent roll
Lease copies
Profit & loss statements (last 12 months)
Maintenance records
Property tax and insurance statements

🧾 Pro tip: Organized documentation builds trust and helps you close faster, often at a stronger price.

🚀 6. Consider a 1031 Exchange

If you’re planning to reinvest your proceeds, you may qualify for a 1031 Exchange, allowing you to defer capital gains taxes by rolling profits into another property.
S&P Realty can connect you with local 1031 exchange specialists and attorneys to guide the process.

🧠 7. Partner with an Experienced Multifamily Agent

Multifamily sales involve more negotiation, longer timelines, and specialized marketing than residential transactions.

As a broker experienced in both commercial and residential real estate, Shane Parker of S&P Realty understands how to package financials, attract investor buyers, and negotiate strong terms for sellers across Wayne, Oakland, and Macomb Counties.

📞 Ready to Sell Your Multifamily Property?

If you’re thinking about selling your duplex, triplex, or apartment building in the Metro Detroit area, now is a prime time.
Investor demand is rising, especially for stabilized cash-flowing assets.

Let’s analyze your property’s income, condition, and market position — and build a strategy to get you the best possible return.

👉 Contact S&P Realty today for a confidential multifamily property evaluation.