Converting mixed residential commercial space
Hello all, I’m hoping you can clear up some confusion I have regarding mixed residential properties in Philadelphia. I often come across properties which consist of a ground level commercial space with a 1-2 BR unit above. Can these properties only be financed using a commercial loan?
Financing aside, if one were to acquire a property like this, what types of obstacles should be expected in attempting to convert the commercial space into a residential unit? I imagine this involves several variables, most notably zoning.
Are potential deals like this worth it?