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Updated over 10 years ago on . Most recent reply

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Justin Brewster
  • Rental Property Investor
  • Lexington, KY
1
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10
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Dividing Duplex into two Parcels

Justin Brewster
  • Rental Property Investor
  • Lexington, KY
Posted

I would love the input of the experienced! 

I have acquired a property zoned as a duplex on a single parcel.  This is two identical 3/1 units sharing a center wall.  What would it take to zone it as two individual parcels.   I want to look into this because I could maximize my investment by selling seperately.  

The zoning officer/person said there was a certain square footage requirement, which we didn't meet, but she said it might still be possible.

Anyone with related experience or has completed such division I am all ears! thanks BP

Most Popular Reply

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777
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742
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Curtis Bidwell
  • Rental Property Investor
  • Olympia, WA
742
Votes |
777
Posts
Curtis Bidwell
  • Rental Property Investor
  • Olympia, WA
Replied

@Justin Brewster  You will see various opinions but I want tenants in place when I buy.  (I also want to see the screening report to know the quality of tenant.)  This proves the market value and rentability assuming you are at market rent.  

I like to buy where I know the rents are below market.  But with tenants in place i dont start off dealing with vacancies.  You will usually have 1 month before you make a mortgage payment so your rent becomes your 1st month of reserves.  

  • Curtis Bidwell
  • Podcast Guest on Show #95
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