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Updated about 7 years ago on . Most recent reply

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Peter Cung
  • Rental Property Investor
  • SF Bay Area
22
Votes |
25
Posts

MFH Primary Residence in SoCal?

Peter Cung
  • Rental Property Investor
  • SF Bay Area
Posted

Hi guys,

Hope you find this message well!

I am from California, but invest out-of-state. So far so good and I plan on continuing to purchase turnkey properties for cash flow purposes.

Having said that, I am looking into purchasing a primary residence for my family and I in Southern California in a year or two – specifically in Orange County (Irvine, Tustin, Mission Viejo, etc.) or San Diego (Poway, Carlsbad, etc.) County. One idea that I am entertaining is to purchase a MFH where we can live in one unit and rent out the rest.

Does anyone here on BP have a similar experience as I do and had success purchasing a multiplex as their primary residence in SoCal? My objective is to buy a home that's decent to raise a family, but can cash flow/appreciate over time. 

Very interested in understanding how you did it, whether these counties have MFH inventory (seems harder in areas with good school districts), expected price ranges, and any tips/advice you can share. Also, open to other suggestions! 

Happy to connect and PM me too if you want.

Thanks,

Peter

Most Popular Reply

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6,192
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7,177
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Dan H.
#2 Managing Your Property Contributor
  • Investor
  • Poway, CA
7,177
Votes |
6,192
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Dan H.
#2 Managing Your Property Contributor
  • Investor
  • Poway, CA
Replied

Duplex to Quad in Poway are virtually zero.  The last one I saw on market my offer was $20K above ask and I did not get a response.  Escondido has many small multiplexes (duplex to quad) and is close to Poway but significantly different class of neighborhood where the multiplexes are located (not nearly as nice as Poway).  Many of the nicer suburb areas of San Diego do not have the small multiplexes.

I am less familiar with Carlsbad and the number of duplex to quad there.

If you plan on living on the property another option to consider for either Poway or Carlsbad or Orange County is an ADU. You would need to understand the local ADU requirements prior to buying the property. It in effect is creating a duplex from a SFR house where the ADU size is constrained to quite small. The advantage I see to this option is that you can in effect create a duplex in a nice area that does not have duplexes (i.e. Poway).

Good luck

  • Dan H.
  • Loading replies...