Rental Property Investor · Greenwich, CT · Member since 2015 · 4k+ posts · 2k+ votes
7y
@Kevin Koone, the answer to your question is to look at your town's zoning maps and see what's what.
The real question is if it makes sense to build a small MFR from the ground up. This gets asked a lot in the forums and the answer is almost always a resounding "no."
Ground-up small MFR construction rarely makes economic sense due to high land and labor costs. That's why you usually only see SFH and large MFR being built.
Perhaps your market is unique; the numbers work and the town has the appropriate zoning and you can identify a suitable lot. That leads to the next question: Have you ever done anything like this before?
Ground-up construction is a hornet's nest of zoning, codes, red tape, and annoying neighbors. If you've never done anything like this before, make sure you partner with an experienced builder or developer. 1) So they can guide you through the process and 2) So you can actually get the financing. A bank is very unlikely to trust that much money to a newbie considering how difficult a process it is.