A self-contained unit with its own kitchen, bathroom, and living space sits inside a larger building. That unit is an apartment. Residents share walls, hallways, and often amenities such as laundry rooms or courtyards.

Apartments range from studio layouts to multi-bedroom configurations. Ownership usually stays with a landlord or investment entity; occupants hold leases. In some cities the same physical unit can be converted to a condominium and sold individually. Rent levels reflect location, condition, and local supply.

Property managers handle maintenance, tenant screening, and rent collection. For investors, apartments generate rental income and potential appreciation. For renters, they offer flexibility without the responsibilities of homeownership. Noise, parking, and shared systems are common trade-offs.

A well-managed apartment building can feel like a small neighborhood stacked vertically.