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Updated over 5 years ago,
Advice/Guidance needed for CA Multi-Family zoned lot
I'm pretty knew to real estate and don't know much at this moment but I'm looking into buying my first property. I've seen a post for a small lot in a residential neighborhood. I could put down 50% or more. It says that it is a Multi-Family zoned lot. Since it's not in the best part in town and I would not have the money to build a house on it yet anyway, I was thinking that I could potentially turn it into a parking lot and rent out spaces either monthly for residents or hourly for people that need to go shopping in order to create cash flow until I can build on it. Is this something, I would legally be allowed to do? Does anybody has some input and/or can provide some guidance on this subject? Or knows somebody that could? Thanks all for reading!