Multifamily Appraisal Edmonton

Multifamily and Apartment Appraisal in Edmonton

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Bourgeois Brooke Chin Associates appraises apartment buildings and other multifamily properties across Edmonton, St. Albert, Sherwood Park, Leduc, Spruce Grove and the surrounding region. Our Edmonton office is led by Mark Poechman, AACI, P.App, Managing Partner, a court-qualified expert witness who has completed multifamily valuation and consulting assignments throughout Alberta and western Canada.

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Multifamily properties we appraise

- Walk-up apartment buildings.

- Mid-rise and high-rise purpose-built rental buildings.

- Townhouse and row-housing rental complexes.

- Mixed-use buildings with residential suites above commercial space.

- New construction and proposed developments, including as-complete and as-stabilized values.

- Seniors housing and supportive living properties.

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How apartment buildings are valued

Lenders and investors look first at income. We analyze the rent roll against current market rents, allowances for vacancy and collection loss, and operating expenses such as utilities, property taxes, insurance, repairs and management, to estimate a stabilized net operating income. That income is capitalized at a rate supported by recorded apartment sales from our transaction database, and cross-checked against price-per-suite and price-per-square-foot evidence. For buildings with renovation potential or below-market rents, we explain how the value changes as rents move to market.

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Edmonton factors we consider

Rents, vacancy and buyer demand vary widely between older walk-ups in mature neighbourhoods, newer suburban rental buildings and downtown towers. Edmonton's Zoning Bylaw 20001, in effect since January 1, 2024, allows more housing types in many areas, which can create redevelopment potential for older multifamily sites. We take these differences into account rather than applying a single city-wide rate.