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Updated over 7 years ago,
Duplex zoned commercial or residential?
Tomorrow I am meeting the owner of a duplex to walk through and determine the rehab needed. It is located in an extremely high-traffic location in a very trendy and well-established neighborhood. It is an interesting location because in one direction down the street from this property are residential properties (SFRs, small apartments). Down the street in the other direction are very popular businesses (mostly bars, restaurants and coffee shops). It is kind-of the dividing property, you could say.
Via tax records I initially spoke with the previous owner. He told me that he thinks this duplex has been zoned for commercial use. It appears to have been vacant for a long time. I was initially not excited to hear that because my intent was to rent both sides to tenants ( I actually want to put a regular, annual lease tenant in one side and AirBNB the other). That has been my only mindset up to this point.
There are so many options, the aforementioned being the only one I have spent time educating myself about. If it is zoned commercially, I could rehab it then rent out to businesses, or list with a commercial agent to sell. If zoned residential I could either do my existing plan or convert to a SFH and flip it.
What would be the effort required, financially and otherwise, to get it zoned residential again for my original intended use?
And lastly, looking at the situation, would you pursue commercial or residential use of this property, and why?
Thanks!!