Yesterday I went and looked at a 1bd/1ba duplex, formally a triplex. Both units appear in excellent condition with my only complaint being the 10ft ceilings. More than likely my initial bid will be 125k with 128k being my upper bid for FHA. Above 128k FHA does not cash flow and I would need to get a partner.
In either case through, whether this duplex is a great or mediocre deal depends on the third unit. The third unit had been in use at one time. However, after the tenet moved out the city rezoned the property as a duplex. Sense the unit was unoccupied, they were taking their time remodeling it, there was no way for the third unit to be grandfathered in.
According the realtor I have three options. First is to leave the duplex as is. Second is to try to persuade the city planning department to rezone the property back to a triplex. Third is to petition the city council to supersede the zoning and allow me to return it to a triplex. I am thinking the city council is the best bet. What would be the best way to approach them?
Well, here is a rough draft of the letter I will be sending the city council. Is there anything I should add or take away?
Dear [insert council member’s name],
The Dalles is in desperate need of affordable and well maintained housing. Having returned home, from Portland in July of 2014, I have noticed several positive changes made to the city. However, affordable housing is one area that would still benefit from some attention. That is why the miss zoned duplex at 814 Court St must be given a zoning exception and allowed to once again be utilized as a triplex.
Allowing for the property to be retro zoned back into a triplex would allow for another affordable housing option. From my own experience much of the affordable housing options, those priced under $700.00, are not well maintained and leave much to be desired.
The triplex on Court St, however, is in an ideal location. The sellers have kept the property immaculately clean and fully updated to today’s standards. With easy access to Downtown employment, and ample parking, it is the type of location my fellow citizens would be proud to live in.
Not only will the future tenets benefit from the increase in affordable housing, but so will the entire economy at large. At rental prices go down the amount of expendable income available to individuals and families goes up. They then have more opportunities to frequent local business, contribute to charities and enhance the economy of The Dalles. Tourism is a fantastic addition to a community with such a rich history. However, a self-sustaining core economy must be the foundation of which tourism is built upon.
Finally, the tax revenue collected by the city has made it possible for the city council to guide the progress of The Dalles for the better. With the 814 Court St property being retro zoned back into a triplex, so will its property taxes be improved. This will allow for additional funds to be spread out among the schools, fire department, road construction and other social services provided by the city.
When I moved back home I made the active decision to provide The Dalles with affordable housing. In my own situation it was only by word of mouth that I was able to find an affordable place to live. Most of the conventional methods of rental shopping yielded nothing in my price range. This personal experience is why I know that the duplex on 814 Court St must be rezoned back into a Triplex. The current owners have already made the present units affordable. Yet, the city will receive a greater benefit when I reactivate the third unit after purchase.