Rental Property Investor · San Francisco, CA · Member since 2016 · 215 posts · 42 votes
Hey all-
Hoping to get some advice from BP on how you would proceed to value a "triplex" (currently 3 tenants living and paying rent) but the building is only zoned as a duplex. The property currently collects approx. $2200 in rent from the three tenants and the seller has listed the "triplex" at $190K.
Would you only put in an offer assuming the unit is a duplex and would therefore only collect ~$1500 per month in rent?
Get tight with your lender/agent for a plan to make it appraise as a duplex. If yours is the only offer on the table with that plan, and thus the only offer that's credible and not going to blow up half-way through escrow, that could be the deal-maker right there.