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Updated almost 8 years ago on . Most recent reply

User Stats

33
Posts
3
Votes
Ryan Antista
  • Investor
  • Long Beach, CA
3
Votes |
33
Posts

Fourplex listed as duplex with the county

Ryan Antista
  • Investor
  • Long Beach, CA
Posted

BP’ers,

I’m putting together a counter-offer on what could be my first rental property and I’m very excited.

It's a fourplex but while trying to confirm the property tax amount (current and post purchase) I discovered the property is recorded with the county as a two-story duplex. After speaking with the assessors office I was able to confirm that it is zoned for multi-family but the unusually low tax amount is due to it being listed as a duplex. They gave me an estimate on what the taxes would be if it was a fourplex and it went from $600 to around $3,000/yr. I went to their website and I only see two permits related to power upgrades on both panels (story 1 and 2). I don’t see anything related to new kitchens or structural changes etc. My concern is that the conversion from two units to four was not permitted and that I would really be buying a duplex. If that is the case, I think I would have to try to get the permits retroactively, which I heard is a hassle, along with spending more money and more time to make things right.

Can you make recommendations on next steps or things to research?

Should I back out or ask for a discount, given the expenses I would incur for permitting if I choose to move forward?

Who would I turn to to figure out a rough cost of making this a legitimate fourplex?

could benefit from your input :) Thanks!!

  • Ryan Antista
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