Need Tips: Subdividing 3700 sq ft Home into 4 Apartments

Member since 2019 · 7 posts · 2 votes

I'm a first time home-buyer and I am on the market for my first investment property but have a lot of competition with cash investors. So I'm changing the game plan to purchasing a single family property that is large enough for me to convert into four units. I am going in with an FHA 203k loan to purchase it. As a first timer, I have tons of questions on what to expect price wise, and how to do it especially since the property has central air so I have to separate the system into different zones for each apartment to have their own control and for billing purposes. Any advice, tips, stories of experiences are more than welcome!

0 Reply

20 views

Most Popular Reply

Mindy JensenPro Member

BiggerPockets Money Podcast Host · Longmont, CO · Member since 2014 · 7k+ posts · 10k+ votes

@Jasi Edwards , have you checked with the zoning commission and permit office in your city? They are the final say. My own city has told me that I cannot build anything except a SFR on the vacant lot next to the triplex I was going to buy, even though there are several small multi family properties in the very near area. It is zoned Residential, and there is 0 chance I can get a variance.

[email protected]Podcast Guest on Show #261

1 Reply

See this reply in the discussion

6 Replies

Jump to latestLatest

Sort by

Mindy JensenPro Member
BiggerPockets Money Podcast Host · Longmont, CO · Member since 2014 · 7k+ posts · 10k+ votes
7y
@Jasi Edwards , have you checked with the zoning commission and permit office in your city? They are the final say. My own city has told me that I cannot build anything except a SFR on the vacant lot next to the triplex I was going to buy, even though there are several small multi family properties in the very near area. It is zoned Residential, and there is 0 chance I can get a variance.
[email protected]Podcast Guest on Show #261
1 Reply
Jasi Edwards
OP
Member since 2019 · 7 posts · 2 votes
7y
I plan to check with the zoning commission today to see if I can subdivide the house. There are a few multi-families on the same block, however, I'm not going to go by that either. If not, I plan to apply for a re-zoning to allow me to subdivide it.
0 Reply
Jasi Edwards
OP
Member since 2019 · 7 posts · 2 votes
7y
@Mindy Jensen I plan to check with the zoning commission today to see if I can subdivide the house. There are a few multi-families on the same block, however, I'm not going to go by that either. If not, I plan to apply for a re-zoning to allow me to subdivide it.

0 Reply
Mindy JensenPro Member
BiggerPockets Money Podcast Host · Longmont, CO · Member since 2014 · 7k+ posts · 10k+ votes
7y
@Jasi Edwards , good to hear. Do you have alternate exit plans if that doesn't work? Look into renting by the room (check occupancy limits for unrelated adults) if this doesn't pan out.
[email protected]Podcast Guest on Show #261
1 Reply
Jasi Edwards
OP
Member since 2019 · 7 posts · 2 votes
7y
@Mindy Jensen the only alternate plan I have is finding another property that is already zoned as a multifamily property. I'm really not interested in renting out rooms at all. It's much easier for me to managed long-term tenants, than room rentals. Renting rooms comes with a whole other set of rules as it involves having to shares utilities and amenities. One of my colleagues has been renting rooms for the last few years and she complains around her housemates all the times. The horror stories from her makes me not want to even think about renting rooms lol.
0 Reply
Lance Queen
Developer · Parkersburg, WV · Member since 2018 · 35 posts · 11 votes
7y
@Jasi Edwards I am a licensed builder in WV and these type of conversions are nearly impossible. The municipality may approve to rezone but in order to get the occupancy permit the structure will have to be brought up to all modern building standards and to meet fire code. At least those are the challenges you’d run into in WV.
0 Reply

Join the conversationCreate a free account to reply, vote on answers and follow this thread.