I am Chris Minchin, a licensed Florida real estate broker (BK3282270). I have sold Florida income property since 2013, and multifamily is the core of it: buildings of five or more units, mostly between 5 and 50 units and under $3 million. I price your building from its rents and expenses, I show you the recorded sales around it, and I answer my own phone at 321-275-KING.
What would your building sell for?
Four questions, about sixty seconds, priced off recorded Florida sales instead of asking prices.
Run the numbers →or call me at 321-275-KING.
What a multifamily broker does that a residential agent does not
A house sells on comparable house sales. A building with five or more units sells on its income, to a buyer whose lender underwrites that income. That changes the whole job:
- Pricing from the numbers. The rent roll, the trailing twelve months of expenses, the insurance quote a buyer will actually get and the property tax bill after the sale reassessment. The price is net operating income divided by the cap rate buyers are paying, checked against recorded sales of similar buildings.
- The buyer's loan. Five units and up is a commercial loan. The lender looks at debt service coverage, not just the buyer's credit, so a price the income cannot support falls apart at appraisal. I price to survive that.
- The right buyers. Local investors trading up, 1031 exchange buyers on a 45-day clock, out-of-state investors and small funds. Each one asks different questions, and the paperwork they ask for is not the paperwork a house buyer asks for.
- The money after the sale. Capital gains, depreciation recapture, a 1031 exchange or seller financing. Those change what you keep, so they belong in the plan before you list.
Two to four units or five and up
The line that matters is five units. Duplexes, triplexes and fourplexes are bought with residential mortgages, so they trade much like houses and a good residential agent can sell them well. Five units and up is commercial: commercial loans, income-based pricing and an investor buyer pool. That is the work I do.
What Florida multifamily is selling for, by building size
These are recorded sales of Florida buildings with five or more units, January 1, 2025 to October 16, 2026, one deal per property, new construction left out. Medians are per unit.
| Building size | Sales | Median per unit |
|---|---|---|
| Outside Miami-Dade, Broward and Palm Beach | ||
| 5 to 20 units | 524 | $128,392 |
| More than 20 units | 309 | $119,166 |
| Miami-Dade, Broward and Palm Beach | ||
| 5 to 20 units | 499 | $200,000 |
| More than 20 units | 145 | $207,142 |
Outside South Florida, larger buildings did not sell for more per unit than small ones. Buyers paid for income and location, not for size. Across all 1,477 sales the median was about $160,000 per unit. Pinellas was near $160,000, Hillsborough near $137,000, Orange near $100,000, and Duval and Polk near $95,000. The county pages have the detail: Pinellas, Hillsborough, Orange, Duval and Polk, with the full county list on the Florida apartment broker page and the long history in 30 years of Florida apartment prices.
Why small multifamily needs its own broker
The national multifamily teams in Florida mostly sell large communities, where one sale can be worth a hundred small ones. A 12-unit building is the kind of listing those teams tend to hand to a junior agent. I started at Marcus & Millichap in 2013, went independent in 2018, and built the business around buildings that size.
What that means for you: I personally price the building, write the marketing, take the buyer calls and stay on the deal through closing. My fee is 4%, paid only at closing, on a one page listing agreement that runs ninety days. How that compares to other Florida commercial brokers is in this breakdown of commercial broker fees, and how to compare brokers is in how to choose an apartment broker.
Questions about hiring a Florida multifamily broker
What does a multifamily broker do?
A multifamily broker sells income buildings, usually five units and up. The broker prices the building from its rent roll and expenses, markets it to investors who buy that size and type, negotiates the contract and keeps the deal together through the buyer's commercial loan, appraisal and closing.
How much does a multifamily broker charge in Florida?
I charge 4% of the sale price, paid only at closing, on a one page listing agreement that runs ninety days. Fees vary by firm and deal size, so get any broker's fee and term in writing before you sign.
Do I need a multifamily broker for a duplex or fourplex?
Usually not. Buildings with two to four units are bought with residential mortgages and sell much like houses, so a good residential agent can handle them. Five units and up is financed with a commercial loan and priced on income, which is where a multifamily broker earns the fee.
Is a multifamily broker the same as an apartment broker?
For selling a building, yes. Multifamily is the industry word and apartment broker is what most owners type. Outside Florida investment sales, apartment broker can also mean someone who helps renters find an apartment, which is a different job.
What is a Florida multifamily building worth per unit?
Across 1,477 recorded Florida sales of five or more units since January 2025, the median was about $160,000 per unit. Outside Miami-Dade, Broward and Palm Beach it was about $125,000. Your building's number depends on its rents, expenses, condition and location, which is what the Apartment Tracker prices.
Find out what your building is worth
The Apartment Tracker prices it off the recorded sales around it and keeps the number current.
See my number →or call me at 321-275-KING.