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Apartment Valuation Tutorial Using the Real Estate Acquisition Model

I promised a how-to video for my real estate apartment acquisition model, and so I thought I’d use an actual property to do so. I grabbed a property from Loopnet that is currently for sale, and dropped the information from the listing into the model. I’m not at all familiar with the property or the sub-market, and thus many of the assumptions are made up. So take the resulting value with a big grain of salt. Nevertheless, the exercise should be more interesting and valuable this way than how I’ve done previous tutorial videos where I’ve simply walked you through the inputs and mechanics of the model.

Download the Excel Model

A few quick notes:

  1. This multifamily financial model includes 15 tabs, of which three are input tabs, four are output tabs, two are organization tabs, and six are calculation module tabs.
  2. The model allows for up to 34 unit types.
  3. The debt module is not overly sophisticated, only allowing for senior debt and not displaying monthly amortization. If you need a more complex debt module, try our advanced real estate amortization table.

If you have any questions, comments, or requests, please don’t hesitate to contact me. I do my best to respond to every inquiry and as promptly as my schedule permits. Happy modeling!

About the Author: Born and raised in the Northwest United States, Spencer Burton has over 15 years of real estate investment and development experience. In his current position, Spencer assesses new investments for a $40bn real estate fund. He resides in Dallas, TX.