Small 2bd/1ba SFH on large R3 property
We have a small SFH rental property that will be vacant next month. Its on 9,000 sqft plus corner lot zoned R3.
Should we put back on rental market (LA County - No local rent control) or
Fix up, (only new paint inside and out - needed) and list vacant (no tentants) on the MLS seeking highest bidder or
Just put feelers out there to prospective developers knowing it could be more valuable to build multi-family units.
Most Popular Reply
#2 House Hacking Contributor
- Real Estate Agent
- Los Angeles, CA
The question is what would you do with the money?
Chances are you are better off selling and reinvesting that money in a higher cash flowing property. You have to run the numbers and see what your return on equity is.
In terms of a light fix up and then selling, not sure that is necessary. From what you are describing a developer will likely tear it down. Why spend the money?