Is a property really a triplex?

3 Replies

I am a new real estate investor interested in my 1st property and ready to buy.

Identified a potential fixer upper that needs a lot of work. It is advertised as 3family(Unit 1 is 3bdr 1bath, Unit 2 is 1bdr 1bath and unit 3 is 1bdr 1bath). Numbers look good.

Visited the property and it is connected to another property(seperated by walls)

How do I verify if it is zoned as multifamily unit? Property is located in NJ

If it is NOT multifamily, what is the process to make it a 3family since I will be doing full scale renovation?

Is it worth going through that exercise for a 1st investment?

Thanks in advance

I was able to do a physical inspection on the property and got enough signs to know that it is a 2family and not 3family as advertised(only 2 utility meters, 2door bells and also kitchen on the 3rd floor is NOT legal).

With the rehab estimate from licensed contractor, income reduction(2family instead of 3) and price given by wholesaler selling the property, It is not a good deal.

Back to the search again for my 1st investment property.