Duplex dilemma please help
Hi everyone, I'm in a dilemma with my first duplex and I can really use some input.
I purchased my first duplex four years ago, in an up and coming neirgborhood really close to downtown.
It sits on 7000 sqft lot. The house was built in 1903 so it's a unique looking property. The city would not let me build additional units cause there is new 5000 sqft per unit law in place. But I can build a garage with an office on top.
I'm contemplating eventually turning the duplex into a single family home and moving in, since I currently rent a small apartment.
I have over $300K in equity and I'm calculating $180k to complete my build.
My realtor hates the idea and is telling me to sell so I don't pay capital gains tax and try to invest the money in more units. But the market is out of control in San Diego.
Thank you for taking the time to read my story.