EPISODE 36
When I bought this Duplex I had the following exit strategies in mind:
- Subdividing the Duplex so that each unit becomes a standalone SFR (Single Family Residence), at that point the Front House would be standalone without garages, and Back House would have two garages which I will convert into an ADU
OR
- Permit & convert the 2 car garages into an ADU and not subdivide
- Once Subdivision & or ADU is completed, I would then sell / refinance (cashout) / hold / refinance & hold.
During our due diligence period, both options subdivision + ADU or ADU were plausible and Planning Department agreed with our assessment. It's only after we submitted plans for the subdivision, City informed us it's unlikely they will support the subdivision and that we are "more than welcome to pay the fees and try"; we opted to go the ADU route at that point.
This is a progress update, take a look!
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