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Updated almost 3 years ago,
Building Workshop/ Large garage+apartment on lot in Austin TX
Hey BP.
I am interested in purchasing a large lot .25-.5 acre that already has a single family house on the lot. My plan would be to add a 2nd unit of a workshop (warehouse/3-4 bay garage) for my business in the back and rent our the main house MTR or STR depending on the zoning of the lot.
Another idea I had was building large garage with an apartment above it (1200 square feet apartment) and renting out the 2 units and "Office hacking" the property.
The issue I am running into is figuring out what type of zoning I should be looking for.
Could I do either one of these options in SF2 and SF3 or do I need to just consider commercial lots
I am planning to use the SBA 504 loan which requires my business to occupy 51% of the square feet on the property and a 10% downpayment. Loan is a 20 year amortization.
Any developers or builders that could offer insight on lot type, zoning, and feasibility on either of the options I am considering with a just a basic steel building all the way up to a full workshop and 2 bedroom apartment.
Thanks
Zach