Which term refers to a residential structure containing one to four living units?

The term that accurately refers to a residential structure containing one to four living units is "dwelling." This term specifically encompasses a range of housing styles, including single-family homes, duplexes, triplexes, and four-unit apartments. In real estate parlance, "dwelling" has a precise connotation as it encompasses structures designed for human habitation, making it the most suitable choice.

While "residence" is often used colloquially to describe where someone lives, it does not strictly delineate the type of structure or the total number of units involved. Similarly, "property" is a broader term that can refer to any piece of real estate, whether residential, commercial, or undeveloped land, and does not specify the nature of the dwelling. "Building," on the other hand, is a more general term that could apply to any constructed structure, not solely residential dwellings, and lacks the specificity needed for a residential context. Hence, "dwelling" is the most precise and correct answer in this scenario.