5 of the Best Commercial/Multifamily MLS for Finding Apartment Complexes for Sale
For investors looking to acquire an apartment building, an MLS is an invaluable tool. That is precisely why investors should know which MLS outperform the competition.
Using a commercial or multifamily multiple listing service (MLS) is one of the most common ways to find suitable investment properties for sale. Some would even venture to say that despite there being alternative means, an MLS is simply the most effective method. After all, most commercial multiple listing services will give you a great idea of the prices and selection of properties in any given geographic area.
The caveat, however, is that using an MLS to find an apartment property may not help you discover the best deals-- simply due to the fact that if an owner or broker is utilizing an MLS, they’re typically committed to marketing their property and will often demand a higher acquisition price. Despite that, looking at MLS listings is still the premier way to begin the property search process, and with the plethora of options to choose from, it’s best to know who the big players are.
A few of the top commercial MLS services include:
LoopNet: Unofficially considered the largest and best known commercial MLS, LoopNet currently has approximately 8 million registered members and around 5 million monthly visitors. The service is owned by CoStar Group, which acquired it back in 2012.
Showcase: Also owned by CoStar Group, Showcase is another one of the larger commercial MLS services in the U.S. as well as in the U.K. The service currently lists more than 1.4 million properties for sale or lease.
Apartmentbuildings.com: ApartmentBuildings.com is a great service, and as the name implies, it actually only lists apartment buildings (how shocking!), and no other types of commercial properties. However, the service only lists properties in the states of Florida, New York, California, Arizona, and Texas, though it will likely expand to other markets soon.
CREXi: CREXi is a newer MLS service, with approximately 200,000 monthly users. While it is new, its listings are currently valued at nearly $500 billion, making it a growing force in the industry.
CityFeet: CityFeet is an MLS provider that focuses mainly on office properties, but does have a noticeable selection of apartment property listings, particularly in major MSAs such as New York City, Chicago, Los Angeles, Seattle, Houston, Atlanta, and Las Vegas.
Other options worth noting include Realtor.com, Point2Homes, and Trulia, though these services mainly focus on marketing single-family properties, with a secondary or minor focus on apartment buildings.