WE BUY APARTMENT BUILDINGS
If you currently own an apartment complex and are looking to sell it, for whatever reason, you’ve come to the right place. Whether you inherited the apartment building, have difficult tenants, too many repairs, are facing foreclosure, or you just don’t want to be a landlord anymore and would like to cash out, we can help.
How to Sell Your Apartment Complex Quickly & Hassle Free
We are professional real estate buyers, and we purchase apartment complexes – in any price range and in any condition. We can make you a no-obligation cash offer within days, making the entire process for you quick and simple. You get to walk away with cash in your hands, without having to deal with any of the hassles that you typically would when selling an apartment building.
Benefits of Selling Your Apartment Complex Off the Market
If you were to go the traditional route of listing your apartment building on the real estate market, you would have to spend tons of time and lots of money to do so. These burdens include:
- Making repairs, renovations, and improvements to make it more desirable to potential buyers
- Paying a realtor thousands of dollars in commissions the list the property
- Having dozens of strangers viewing your apartments
- The possibility of it sitting on the market for a long time with no buyer
Working with Queen Capital removes all the hassles and costs listed above. If you accept our cash offer, you get to walk away quickly and with more cash in your pocket. No realtors, no showings, and no repairs are needed. Review our Frequently Asked Questions below to learn more.
Apartment Complex FAQs
Can you really buy my apartment building in cash?
Yes, we can. We have private lenders that lend us the cash to purchase and fix the building and apartments. Since they're not traditional banks, we can close very quickly. Our lenders have the confidence and trust in us that we know what we’re doing. Therefore, there's no need for appraisals, inspections, etc., which allows us to close quickly. They give us cash, and we pay the sales price of the building in cash to the title company handling the closing, and they transfer that money to you.
Does it matter what condition my apartment complex is in?
No, we buy apartment buildings as-is, in any condition, even if it’s in bad shape and in need of costly repairs. There is no need for you to pay for or make any repairs yourself. We’re skilled at assessing the value of your complex and the costs associated with any repairs that need to be made. Additionally, our offer to purchase your apartment building is not contingent upon it passing any inspections.
Will I have to pay any commissions or fees?
No, you will not have to pay any commissions or fees whatsoever. Working with us is at zero cost to you.
How fast can you close?
We can close within 30 days. If you are facing a time-sensitive sale due to an impending foreclosure or another matter, we can speed up the process and close sooner, if needed.
Who pays the closing costs?
We pay for all the closing costs, which is another advantage of selling your apartment building to Queen Capital.
Will you buy my apartment building if tenants are living in it on leases?
Yes, we will absolutely buy your apartment building with tenants currently living there on leases. Whether your apartment units are occupied or non-occupied makes no difference to us.
Does it matter what my occupancy rate is?
Your occupancy rate, the ratio of rented apartments to the total number of apartment units, does not matter to us.
Do you have a minimum or a maximum number of apartment units required?
No, we do not have any requirements on size or number of apartment units. We buy all types of real estate rental types, including single-family, duplexes, small apartment buildings, and large apartment buildings. If it's real estate and you want to sell it, we can buy it.
Does it matter what class my apartment building is designated as?
No, it does not matter. We know that apartment buildings come in a variety of forms, and we are interested in all apartment complexes, regardless of their class designation. These include:
- Class “A” Apartment Buildings: Newer luxury rentals which are garden, mid-rise, or high-rise buildings with first-class amenities.
- Class “B” Apartment Buildings: Complexes which are up to 20 years old, with few amenities, if any.
- Class “C” Apartment Buildings: Complexes up to 30 years old, in need of renovations and repairs.
- Class “D” Apartment Buildings: Complexes which are over 30 years old, located in a lower socioeconomic area, and in need of renovations and repairs.
What areas do you buy apartment complexes in?
We buy apartment complexes all over the United States.
What information will you need from me to make an offer?
We'll need to know the building’s gross rents and maintenance expenses to calculate the NOI (Net Operating Income) of the complex. NOI equals all revenue from the property minus necessary operating expenses. This is the before-tax figure which doesn’t include loans, capital expenditures, depreciation or amortization.
We’ll also need to know your rent rolls, number of units, and vacancy rates. P&L statements are also helpful. If you’re not familiar with these items, don't worry. Just call us, and we'll explain what these items are and how you can find them.
How long does it take to get a cash offer?
We provide you with a written cash offer within 48 hours of viewing your complex.
Are we under any obligation to accept your offer?
I like your offer. What happens next?
We'll provide you with a contract to sign for us to purchase the complex. The closing will be two weeks from the effective date of the contract or whatever date is most convenient for you. We'll deposit the earnest money specified with the title company within 72 hours. We then begin getting all of our ducks in a row to start any rehab after we close.
We’ll meet at the title company on the specified date, sign the contracts, and the title company wires your cash into your account. That's it.
Get in touch with Queen Capital for a quick no-obligation cash offer on your apartment building today!