Business Glossary

a dwelling unit within a multifamily structure, generally provided as rental housing. An apartment building is a structure with individual apartment units but a common entrance and hallway.

Example: Apartments may vary in size from small, 1-room efficiencies to large, multibedroom units. Apartment buildings may range from a 1-story, 4-unit building to a high-rise building with hundreds of units and retail and office space included.