I have a 4 plex in Ogden, Utah. The 2 buildings sir close to the street of on the property. This leaves me a huge back yard with a right-of-way to it.
I've thought of creating small back yard areas for each unit, but that still leaves a lot of unused land. I don't want the hassle, cost, and wasted resources needed to back it extra recreational space for tenants.
I'm considering whether or not I should level it, throw some gravel down and rent it to 2 or 4 people for rv storage.
Has anyone here done that? Any issues or things to watch for?
Ive had the same thought about some of my empty farm land. It backs up to a local lake and Ive always wondered if I put up some covered storage's if it could turn a profit. Where I live I don't have to worry about local codes and city ordinances but I would start there first and see if legally its even an option. If that's not an issue then as long as space permits for ease of maneuvering big RVs around I would say go for it. I also would question your intentions with the 4plex as long as its a buy and hold then you wouldn't have to worry about it effecting the value of the property. I'm not sure what the effect would have on the property value. Hope my two cents helps in some way.
Ogden City code enforcement is very anti-RV. I've been told "there is no zone in Ogden that permits camping". It's because homeless folks are able to find non-working RV's for next to nothing and then live in them at vacant properties and even on the street.
RV and camper storage is another matter. Additional storage in some arrangement is probably acceptable. Check with zoning.
@Nathan Hughes You are both looking at a wonderful profit center with RV's. Ben you specifically mentioned RV's for Storage. It is important to note that your local zoning requirements for creating outdoor RV storage will differ greatly from creating a "Campground" which would be for RV's that are occupied while on your land. Either way, you would want to check your local zoning requirements and know which Building Code your area uses. If you screen your RV parking area, either with plants or a structural screen (Trellis, fence, Storage shed), then I doubt that parked RV's would have anything but a positive effect on your four-plex value, especially if you're using valuation based on income.
Nathan your post looks more like the creation of an RV campground or RV Park -which at this time can be highly profitable in almost any part of the country (surprising demand) and can do quite well with both Short Term RV space rentals and with month to month RV space rentals. (RV owners are very mobile, most have free time to go to, and to stop at, anyplace attractive. If you add showers, a laundry, a small commissary, sell firewood, propane, ect, those are not necessary because most RV's are self contained, but each can become additional profit centers.
First check with your local officials regarding approved uses in your zoning district for RV Storage, or alternatively for Campgrounds and RV Parks. If approved for your zoning district, then pay particular attention to minimum lot size, set back requirements and screening. If you end up building a structure under the International Building Code (most common code), most structures related to outdoor RV lots are in the Utility Occupancy (IBC Chapter 3 section312 https://codes.iccsafe.org/content/IBC2018/chapter-3-occupancy-classification-and-use?site_type=public@William Hochstedler, West Coast Cities, Seattle, Portland, San Francisco, & LA all have serious problems dealing with RV's. https://www.biggerpockets.com/forums/61/topics/718522-slick-seattle-entrepreneurs-reveal-how-to-landlord-without-re
I was stationed in Oak Harbor Washington and I know for a fact if you had the land for an RV park you could make a huge profit.
Thanks for the information. I would love to own an RV park but I had storage on the mind. If I had true lake shore line property It would be a viable option but I own river/lake bottoms land. Currently I have about 8 acre's under water. We've had record breaking rain this spring. I have a five acre field with gravel roads surrounding it on three sides that could easily be turned into storage area for boats and RVs. I'm 1/10 of mile off the highway that leads to two lakes. One of which is currently flooded onto my property. The other is a 20 minute drive. I think it would be attractive to people simply because I live within about two miles from two different boat ramps and a campground and the highway is about the only route to get the other larger lake to the east from a few larger cities to the west of my little town. But I would have to sacrifice my wild flower meadow. Lol