Condo vs. Multifamily
I always hear, “that land cost might work for condo, but not for apartments.” Generally, Why can you afford a higher land basis for condo vs for multi family?
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Because condos are worth more sold separately than an apartment building so you have more room to spend more on the land.
This question is the same as "why is this piece of land worth more than the other?" just from the use standpoint.
Condos also utilize space better. MF properties you have to account for unsellable land in the building (hallways etc).
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