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Updated almost 10 years ago on . Most recent reply

Kris Fox's profile image
Kris Fox's profile image
Kris Fox
  • Flipper/Rehabber
  • from Greenville, SC
  • Member since Apr 12, 2011
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User Stats

74
Posts
22
Votes
Kris Fox's profile image
Kris Fox's profile image
Kris Fox
  • Flipper/Rehabber
  • from Greenville, SC
  • Member since Apr 12, 2011
Connect
Kris Fox
  • Flipper/Rehabber
  • Greenville, SC
22
Votes |
74
Posts
Multi-Family and Apartment Investing

Is it possible/profitable to split up a 3-unit condo building?

Kris Fox
  • Flipper/Rehabber
  • Greenville, SC
Posted

There's a building with 3 condos in the historic district of the town I live in available for sale. The whole building is selling for $400k and is being marketed as a triplex. Is it possible to hire an attorney to draft an HOA and then start selling off the units separately once current leases end? Currently a SFR of similar square footage in that area sells for $200-$250k. Do condos lose that much value compared to SFRs in the same neighborhood?

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