Sell an Apartment Building
If you own an apartment building where the turnover, the empty units, and the deferred capital repairs have started to outrun the rent, selling does not have to mean a long listing and a financed buyer who backs out at appraisal. Kentuckiana Commercial Co. (KCC) is a local, Jeffersonville-based direct buyer of apartment buildings of five units and up across Southern Indiana and the Louisville metro, and part of Oettinger Management Group. We buy occupied or vacant, as-is — leases and tenants stay in place — and the buy decision is made here in Jeffersonville, not by an out-of-state acquisitions desk.
Who this apartment building page is for
This page is for owners who want to sell an apartment building — anything from a stabilized, fully leased property to a building that has slipped into chronic vacancy and deferred maintenance. You might be a long-time landlord who is ready to step back, an out-of-area owner tired of managing units from a distance, or someone who inherited a building and never planned to run rentals.
- Landlords worn down by constant tenant turnover and the cost of re-leasing units
- Owners carrying chronic vacancy that is dragging down net operating income
- Buildings with stacked-up capital needs — roof, HVAC, plumbing, parking, or electrical
- Properties flagged for code or habitability issues that are expensive to chase
- Owners facing burnout, partnership splits, retirement, or estate transitions
KCC’s lane is commercial property and multifamily of five-plus units. If your building is 1-4 units, that belongs with our sibling company, Mortgage Forfeiture, which handles residential. For apartment buildings of five units and up, you are in the right place.
What we review in your apartment building
An apartment building is an operating business, not just a structure, so our property review looks at how it actually runs — not only what it looks like on a walkthrough. We work from whatever you have; you do not need a clean package to start a conversation.
- Unit count and mix — studios, one- and two-bedrooms, and any commercial or vacant space
- Rent roll — current rents, what is collected versus billed, and how far rents sit below market
- Leases — term lengths, month-to-month exposure, deposits held, and any problem tenancies
- Physical condition and deferred capex — roof age, HVAC and boiler systems, plumbing and water intrusion, parking, and common areas
- Title, liens, and back taxes — mortgages, judgments, mechanics liens, and county tax status
- Code, habitability, and zoning or use questions tied to the building
Apartment building situations we commonly see
Apartment buildings fail differently than other commercial property. The pressure usually builds unit by unit and turn by turn rather than in a single event, which is why a building can look fine on paper and still be quietly draining the owner.
- Turnover that never ends. Every move-out means make-ready costs, lost rent, and re-leasing time — and in a tired building, tenants do not stay long.
- Chronic vacancy. A few empty units stop being a temporary gap and become a permanent drag on income, financing, and your willingness to reinvest.
- Deferred capital expenses. A roof, boiler, HVAC, or plumbing system that has been nursed along for years finally needs real money you would rather not spend on a building you want to exit.
- Code and habitability pressure. Inspection items, complaints, or repeat violations turn into a cycle of fixes, re-inspections, and risk.
- Owner burnout. The calls, the collections, the contractors — at some point the building owns you instead of the other way around.
Any one of these can make a traditional sale awkward, because a conventional buyer often wants stabilized income, clean inspections, and financing that the building’s current condition will not support.
Why selling to a direct buyer can make sense
Listing an apartment building usually means getting it show-ready, hoping for a financed buyer, and surviving an appraisal and lender underwriting that scrutinize vacancy and deferred maintenance. If your building is not stabilized, that path can stall for months — while turnover, vacancy, and carrying costs keep running.
A direct purchase takes the appraisal, the lender’s vacancy scrutiny, and the broker listing period off the table. KCC purchases the building as it sits — occupied or vacant, with existing tenants and leases in place — so you do not have to empty units, complete repairs, or repaint a property you are trying to leave. Because we are a local principal buyer and not a broker, there is no listing period and no agent commission built into the deal, and decisions are made here rather than by a committee out of state.
How selling an apartment building to KCC works
- Reach out and tell us about the building — address, unit count, and roughly what is going on with occupancy and condition.
- Share what you have. A rent roll, leases, and any inspection or tax notices help, but partial information is fine to start.
- We review the property — units, rent roll, condition and capex, title, liens, and any code or use issues — and walk the building when it makes sense.
- We talk through a direct purchase, including realistic price and timing for a building in its actual condition.
- If it works for you, we close on a timeline built around your rent cycle and any tenant notice you owe, with leases, deposits, and tenancies conveyed in place.
A property review does not commit you to selling. Plenty of owners use it just to see where their building stands against today’s rents, capital needs, and local cap rates. If holding makes more sense than selling, we will tell you that.
Apartment building seller questions
Can I sell an apartment building that is still occupied?
Yes. In most commercial sales the existing leases generally stay with the property, so you typically do not need to empty units or end tenancies in order to sell. KCC purchases occupied apartment buildings with tenants and leases in place and takes over management responsibility at closing. How specific leases, deposits, and any required tenant notices are handled depends on their terms, so it is worth confirming those details for your building.
Can I sell an apartment building with deferred repairs or open code violations?
Yes. KCC purchases apartment buildings as-is, so a roof at the end of its life, aging HVAC or plumbing, parking problems, or open code and habitability items do not stop a purchase. We factor condition into our property review rather than asking you to make repairs first.
Do I need a clean rent roll or financials to get a property review?
No. A current rent roll and leases help KCC move faster, but we work with partial or messy records routinely. Tell us what you have and what is actually being collected, and we will build the rest of the picture from there.
Is KCC a broker, and will I owe a commission?
No. Kentuckiana Commercial Co. is a direct buyer — a principal purchasing for its own account, not an agent listing the property. There is no listing and no broker on our side, so you are not handing 4 to 6 percent of a multifamily sale price to commissions.
My apartment building is only four units. Can KCC buy it?
KCC focuses on commercial property and apartment buildings of five units and up across Southern Indiana and the Louisville metro. For 1-4 unit residential, our sibling company Mortgage Forfeiture handles those properties. Reach out either way and we will point you to the right company within Oettinger Management Group.
Where owners go from here
Talk to a local buyer about your apartment building
Stabilized or struggling, fully leased or half-empty, we will review the building as it actually stands. Request a property review with Kentuckiana Commercial Co. — a Jeffersonville-based direct buyer serving Southern Indiana and the Louisville metro.