Real Estate Broker · UT · Member since 2024 · 7 posts · 2 votes
Just closed on a brand new build home just outside of Salt Lake City, UT. Found a hidden gem with an unfinished basement that has an external entrance which is unique for the area. We closed with a 5.375% APR, will offset expenses by turning the basement into a registered ADU and are expecting an equity increase by close to $150k in 5-years time. There are still amazing deals out there and it just takes the right agent who has the contacts to put things together.
Attorney · Philadelphia · Member since 2018 · 2k+ posts · 3k+ votes
1mo
@Tryn Mesarch Does the zoning allow a second unit? If so, great find. There's so much value in understanding local zoning and land use regulations and the ability to apply that knowledge to opportunities similar to the one you describe is one of the best ROI's in the business.
Real Estate Broker · UT · Member since 2024 · 7 posts · 2 votes
1mo
@Stuart Udis we have a permit in hand for an ADU (Accessory Dwelling Unit). There are stipulations and regulations with an ADU in Utah, but it is a second unit. Definitely a good find!