Splitting a Multi-Family into Condos - Columbus, OH

[Matthew Rosebaugh]

I have seen a LOT of multi-families split into condos throughout Old Towne East, German Village, Merion Village, etc. Has anyone been through this process or have any advice? 

[David Yoder]

Here is what i know about these type of ideas.  

These are at least the minimum.  

For a condo split you're looking to 

1. Have a "firewall" (fire retardant drywall) all the way up between the units.

2. Each unit has to have separated utilities (water, electric, gas, plumbing).  Specifically the waste pipes needs to run into a Y in the yard then to the street.

3. You need an architect to draw up and define each space to change the deed.

4. A lawyer needs to set up a Condo Association and rules, etc. 

5. You have to file with local government.

For Columbus, condo splits really don't make sense until you get value north of $200k per unit.  They just don't sell that well if there are readily available house for marginally more.  

Like Robert was saying also, if there aren't comparable sales it's going to be hard for an appraisal and realtor to confidently handle these.