Investor · Fontana, CA · Member since 2014 · 1 post · 0 votes
I found a property under contract that has R4 zoning with some sensitive area. It is under contract with me and after initialy survey done, the land has a lot of sensitive area and found that I can only build a house based on R4 zoning. But if I can change to commercial zone, the value of the land will be a steal. It is currently valued at 250k by the government based on tax history and the seller agree to sell me for 135k. If I build a single house, I probably just break it even or might get 5 to 10% profit in the overall process. Any advice and has Anyone done rezoning from residential to commercial?
Investor · Wethersfield, CT · Member since 2013 · 371 posts · 191 votes
9y
Hello @Zin Tun, you'd have to negotiate that with the city. Every city is different. You might start by reaching out to a city councilman, telling him what you have, and asking how to go about getting the zone changed. Listen to what he says. Be prepared to have a "dog and pony show" to show off your track record to the city to prove your mettle.
You have two things to worry about:
1. In most cities you'll have a hearing and people can weigh in on the process. This can be good and bad.
2. You're in the Soviet Socialist Republic of Kaliforinia. Lots of politicians are control freaks and will make you jump through ridiculous hoops to get stuff done.
Developer · Sacramento, CA · Member since 2016 · 464 posts · 143 votes
9y
@Zin Tun i've finally gotten the approval to spilt a lot after almost a year of going back and fourth with the city and neighbors. I'd say if you can handle the holding costs try to see how you can make it worth it and create something to benefit the community/neighborhood.