Rental Property Investor · San Francisco, CA · Member since 2019 · 60 posts · 17 votes
Hey BP,
I'm interested in buying a 3ba/3ba SFH with a permitted in-law unit in the basement. The property is in San Francisco and the top floor is occupied. The price for the house is fairly low ($800k) considering the house is in SF. The area is ok and is getting better. Not sure how to approach this being that there is already a tenant occupying the top floor paying low rent ($1500) for the area.
Investor · Walnut Creek, CA · Member since 2016 · 17 posts · 21 votes
7y
@Renan Jay Maranan
Not sure if this applies to single family but you can use an owner move-in eviction for multi-family. 99% sure that it’s even easier for single family homes.
Rental Property Investor · San Francisco, CA · Member since 2013 · 1k+ posts · 1k+ votes
7y
@Jay Maranan only $1500 in rent for a 3/3? That’s why the home is cheap! (No tenant and home is easily $100k+ more.)
Beware, that it’s legally considered a 2 unit bldg, and in SF the renter has full rent control. You could possibly do an owner move in eviction, but there are restrictions and it’ll cost you some $$ for relocation and legal fees. Unless you’re okay with taking the inlaw, I’d definitely talk to a lawyer we’ll versed with SF’s nutty rent control restrictions. Whatever you do, don’t go at it alone, as you could get sued for big $$$.
Rental Property Investor · San Francisco, CA · Member since 2019 · 60 posts · 17 votes
7y
@Amit M. Thanks for the input and tips! I will definitely keep all that you mentioned in mind moving forward... And the house is located in the Excelsior.