Existing Non-conforming

[Joseph Weisenbloom]

Found a duplex that was listed under the single family listings. It has a converted garage unit that is now a 2 bed 1 bath house. The numbers on this thing are incredible its looking like a 2.5% deal. Talked to the city zoning department and they said that it is existing non conforming and has been grandfathered in because the changes were made prior to the zoning ordinance. These types of properties are common around here because of the proximity to the university. Any downside to owning something like this? It seems like resale value would be hurt but I dont expect it to appreciate at all. At least the tenants dont have to share the same walls.