Residential to Commercial Zoning Potential
Hi Everyone,
Looking for input on this opportunity.
We are buying a triplex in Ventura. The unit is currently zoned under multifamily-residential (2-4 units) and the City is planning re-zone the parcel into Commercial Office in 2019 (Up to 3 Commercial Offices).
How could this commercial re-zoning impact the future value of the property? Any thoughts or experiences? According to the City planner, there is no immediate impact to the current construction/units according to the city but this could be developed in the future for mixed use.
We have no experience in commercial so any input would be great . Thank you!