I am looking at a property that is zoned as commercial with variance for residential. The house was built in 1950. This would be my first purchase and I'm not sure how to go about judging this.
Where can I go to find specific information about zoning?
What does it mean for the lot to have variance for residential?
How do I go about assuring that it will be an appropriate zone for a buy and hold?
Is there a risk that it would arbitrarily change to commercial and the building be forced to be changed or demolished?
@Brandon Payne Call the City’s Planning Dept. and ask what the specific zoning is for the subject site. Typically, Commercial zoning does not allow for residential uses unless it is a mixed use zone. A variance to allow residential in a commercial zone is unusual in my experience.
@Brandon Payne Are you saying there is a SFR on a lot zoned commercial? If so, and there is an approved variance, then get a copy of the staff report and a copy of the Resolution that the Planning Commission or Zoning Administor approved and signed to look for any Conditions of Approval that affect the site.
Go to planning dept is correct. If zoned commercial and has sfh, zoned commercial. Does that mean you can build multifamily?
How large is lot? Cant build much, unless
1- allowance for on street parking
2- zoned high density. If so struck gold. That means, with allowances allowances allowed by building code say have 5000 sq ft lot. Normally have 5 ft set backs around perimiter to begin with. Leaving you say 3000 sq ft in change. Maybe r 2 bed units u5p sq ft. Now do it rite you can build 12 units. To build buy premade plans saving large'$$ expense of the bat.
also should since been used before, get through building dept plan check fast tact.
now right after getting zoning and planning dept approval. Get plans and contact loan agency get approval and contact modular buder. It will get the. On it takes them tj
ime. Submit plans. Use modular builders vendors or havecyour own. Have concrete fou dation, underground plumbinh and electrical run. Have fast setting ad mix concrete poured for foundation. Set time 3 instead 7 days cured 7 instead of 30. Have prefabbed building set cordinatted in advanced with all trades. Rough plumbing mechanical sprinklers all ready done. Saves 20% minimum costs. 40% in construction time. Very i portant. While being built until starting lease up no money coming in only going out and at interest only. Bsoon as set start marketing for tenants.. units filled when complete get c of o. Time is $ maximize time and zavings. Reap the rewards CVif done right.