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Multifamily commercial real estate refers to buildings or properties that are designed and intended for multiple families to reside in. These can include apartment buildings, townhouses, condominiums, and other types of residential developments that are rented out or sold to individuals or families for the purpose of living in. This type of real estate is an investment opportunity for property owners to generate income through rental payments or resale of units within the building. Multifamily properties can vary in size and amenities, catering to different budgets and lifestyles.