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Updated over 4 years ago on . Most recent reply

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82
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24
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Sean Connolly
  • Investor
  • Boston, MA
24
Votes |
82
Posts

Subdivide or not?

Sean Connolly
  • Investor
  • Boston, MA
Posted

I own a 3 Family property. On 1.4acres, there is one Duplex ( 2 1BR, 1BA) and a single family ( 3BR, 1BA) I bought the property for 315K. I have 305K left. I have seriously been considering subdividing the two houses. They currently share a well and septic. Both well and septic are on the duplex side, so I will have to put the new ones on the single family. The single family and one of the duplex units also share a driveway.

I was thinking, Put a new septic (15-20K), new well ( 5-10K) and redo driveway (10k???)

Unsure how much the subdividing process costs, but curious if it is worth it.

A Duplex can go anywhere from 270-300K, and a single family can go for 230-270.

Any opinions??

Most Popular Reply

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3
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1
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Jason Jaime
  • Escalon, CA
1
Votes |
3
Posts
Jason Jaime
  • Escalon, CA
Replied
@Sean Connolly Hey Sean, I’m wondering what ever happened with your deal I found a property just like yours and there’s room for plenty of profit as I see it but I’m not sure about the hidden costs and government red tape I might encounter. Did you have any luck?

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