Apartment

• Property classes
In every community there are several types of multi-family housing, properties are typically put into one of four property classes. Each "class" of properties has a letter grade. These grades are used to help investors and real estate brokers speak a common language so they can understand a property's characteristics and condition quickly. They are as follows:
Class A properties are luxury units. They are usually less than 10 years old and are often new, upscale apartment buildings. Average rents are high, and they are generally located in desirable geographic areas. White-collar workers live in them and are usually renters by choice.
Class B properties can be 10 to 25 years old. They are generally well maintained and have a middle class tenant base of both white and blue-collar workers. Some are renters by choice, and others by necessity.