Unit-by-Unit Apartment Inspection
Unit-by-unit apartment inspections are a critical aspect of due diligence for apartments. Apartment inspections provide accurate data on condition and cost to renovate interiors. They are essential to accurately understand costs, risks, and opportunities for investing in an apartment complex. Renovation costs can vary from minimal to $20,000 per unit.
Elements of an apartment inspection (for the interiors) which should be considered include:
- Condition of carpet (shampoo, dye, stretch or replace)
- Condition of ceramic tile
- Condition of vinyl tile
- Counter tops
- Kitchen exhaust fan
- Ceiling fans
- Garbage disposals
- Plumbing hardware
- Lighting fixtures
The condition of each item in an apartment inspection of each unit should be evaluated. However, most experienced apartment investors inspect the interior of each unit. However, another apartment inspection option is just to do a randomly selected portion of occupied and all vacant units. The analysis should tabulate unit turn costs: a.) to make units ready and b.) in excess of typical make-ready costs over the next year.
O’Connor and Associates’ staff complement of over 50 real estate professionals includes multiple staff members who can complete an expedited unit by unit apartment inspection. They can also handle other due diligence tasks. These professionals are supported by an experience staff of over 100 who are accustomed to complex assignments. Our team has experience in all aspects of real estate including acquisitions, due diligence, ownership, appraisal, property tax appeals, and dispositions. Reduce your risk and stress by utilizing O’Connor & Associates’ breadth and depth of experience to evaluate real estate investments.
To obtain more information on O’Connor & Associates apartment inspection services, call or email Mike Olivares at 713-686-9955 or fill out our online form.