Fourplex Zoned as Commercial; is a Conventional Loan an Option?

[Dean West]

Hi BiggerPockets Community,

I am looking to purchase a 4-unit property in Indianapolis, however, looking at the property parcel card, the property has been zoned as a commercial property.

Would I be able to get a conventional loan for this property, or would I be required to go down the commercial financing route?

The cash-flow for this property looks great using a conventional loan, however, I understand commercial financing is more expensive and will make the property less attractive if I have to go down this road.

Thanks in advance for any advice you can provide!

[Dean West]

Thank you everyone again for your input.  As I hate not finding the ultimate answers when I look at other people's postings, here is how this situation was resolved:

This property was labeled as a commercial property for TAX CLASSIFICATION purposes (any property in Marion County, Indiana that has between 4 - 19 units is taxed commercially).  However, this property is ZONED as D-8 (residential zoning) which allows one to get a conventional loan.

I hope this helps any other investors out there that have encountered similar situations!  Thanks again BP community for your quick and thoughtful responses.