Salt Lake City, UT · Member since 2016 · 15 posts · 12 votes
Hello fellow Utah investors! Lately I've been bouncing the idea around in my head of buying my first home in Saratoga Springs, UT. I’m looking to get a multi-family home or convert a single family into a multi-family. Once I’ve acquired the property I plan to house hack it for at least 6 months. I know that USDA 0% down financing is available in Saratoga Springs and that the booming silicon slopes are only 15 minutes away. It seems like a good idea and the growth looks promising. I don't know the market in that area very well being that I live almost an hour away in Salt Lake City. Do you guys think this is a good idea? Are there issues I would run into regarding zoning laws? What are your thoughts on the area? Eagerly awaiting your responses.
You should call into the Saratoga Springs City offices and talk with someone in the Planning and Zoning department. They could walk you through the process of converting a SFR in a MFH, which is a different process for every city. But I do think you're right about that city and the surrounding area - it's going to be a great buy and hold play for awhile with the good-paying jobs close by. Good luck.
You should call into the Saratoga Springs City offices and talk with someone in the Planning and Zoning department. They could walk you through the process of converting a SFR in a MFH, which is a different process for every city. But I do think you're right about that city and the surrounding area - it's going to be a great buy and hold play for awhile with the good-paying jobs close by. Good luck.
You absolutely need to talk to zoning and planning for the city. If you do the work and then go ask for it you will be out all of the money for the conversion. It's always better to check with the city first.
I would be extremely surprised if the current zoning would allow you to turn it into a multi family property. Especially if it's in the middle of a residential zone. If it's in an older neighborhood and borders other zones, you'd probably have a better chance. Although, some residential zones allow for basement apartments. As said before, this is different in every city. I built a house with a basement apartment in Payson and it's been a homerun. Good luck
The costs associated with turning a SFR into a legal properly zoned MFR (duplex) are staggering and that is if the city can be persuaded.
I did this in Logan about 10 years ago near the university. The costs/time were 2x/4x respectively higher than estimated. Consider this: separate electrical service, separate HVAC, separate water heaters, fire code (sprinklers, alarms, barriers), parking etc. I was collecting $1,200 in gross rents per month on the duplex with renovation costs of $60k + a 1,000 hours of DIY/sweat equity. I could've rented the SFR to a maximum of "three unrelated people" per zoning and probably grossed $900 on $30k of renovations and 250 hours the work.
Modern building codes and zoning ordinances make this an incredibly difficult proposition.