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Updated over 3 years ago,
Nonconforming unit in a multifamily property
Hey guys, I was evaluating a multifamily unit that has 6 units plus a nonconforming studio unit which is currently being rented out. The questions I have are as follows:
1. If I plan to buy and hold and not have any plans of renovating it or demolishing it, are there legal ramifications to keep it as a nonconforming unit and not getting it approved with the city?
2 Are there specific questions I need to ask prior to placing an offer?
3. Am I correct to assume that a nonconforming unit is one that was built prior to a change in the local ordinances, making it nonconforming to the new local ordinances? What characteristics makes a nonconforming unit illegal?
Thanks for any input!
Thanks for any input!