All Forum Posts by: Nathan Wait

Hello, My name is Nathan and I’m currently looking at a property zoned for 6 units. It is currently a duplex and a complete gut job. I was hoping to utilize the 203k loan to add enough sq footage for 6 units. Then, finish out four units, leaving 2 units completely unfinished as “storage.” I’d then refinance after the seasoning period and finish the last two units. Is it possible to leave around 2,000sqft unfinished in with the 203k loan? Are there any other forseeable snags I might run into with this idea? Thank you for your time, and I’d appreciate any feedback!

Hello everyone,

I recently came across a duplex property for sale that is also zoned to be 3 units if desired in the  WA state area. I am having a hard time determining if it would be worth it to convert it into a triplex. This property is in bad repair and the insides would have to be gutted. Can any one tell me how much more difficult from a contractors perspective to do this would be and from an appraisal point of view. Will a triplex sell for significantly more than a duplex?