Looking at a project in Oakland in a very good area. Its a Duplex of about 2000 sq ft in the Front with a cottage around 1000 sq ft in the back with a big lot.
In this neighborhood (very high end) seems like the best potential return would be to re purpose the duplex in front and sell it as a large single family house with a cottage in back.
Does anybody have experience with a project like this?
Will the city cause problems to us for turning two units into one?
Zoning of the property is RM-1, here is the definition of that use code per the city website:
RM-1 Mixed Housing Type Residential - 1 Zone. The intent of the RM-1 Zone is to create, maintain, and enhance residential areas characterized by a mix of single family homes and duplexes, and neighborhood businesses where appropriate.
The city of Oakland will definitely let you turn a duplex into a single family and vice versa. I sold a duplex about 2 years ago and the seller turned it into a SFR and did very well on it. My plan was to make it into condos which the city said was fine but I decided to move on to other things I had going on. Just do all the legwork and due diligence you can up front and make sure the numbers will make sense.
It's a duplex that you want to turn into an SFR in a very high end of Oakland? I'm guessing Montclair/Piedmont?
Definitely a very nice area.