What is the value of a 20-unit apartment building rented for $750 per unit, per month, if the annual gross income multiplier is 9?

To determine the value of the 20-unit apartment building using the annual gross income multiplier, we start by calculating the total annual income generated from the apartments. Each unit rents for $750 per month, so for 20 units, the monthly income is:

Total monthly income = 20 units × $750/unit = $15,000.

To find the annual income, multiply the monthly income by 12 (the number of months in a year):

Total annual income = $15,000 × 12 = $180,000.

Next, to find the value of the property, we use the annual gross income multiplier, which is provided as 9. The formula for calculating the property value using the annual gross income multiplier is:

Property Value = Total Annual Income × Annual Gross Income Multiplier.

Applying the numbers:

Property Value = $180,000 × 9 = $1,620,000.

Thus, the correct calculation indicates that the value of the building is $1,620,000, corresponding to the chosen answer. This method effectively showcases how the annual gross income influences the overall valuation of an income-producing property, illustrating its significance in real estate evaluations.