Small 2bd/1ba SFH on large R3 property

[Marc Garnica]

We have a small SFH rental property that will be vacant next month. Its on 9,000 sqft plus corner lot zoned R3.

Should we put back on rental market (LA County - No local rent control) or

Fix up, (only new paint inside and out - needed) and list vacant (no tentants) on the MLS seeking highest bidder or

Just put feelers out there to prospective developers knowing it could be more valuable to build multi-family units.

[Rick Albert]

The question is what would you do with the money?

Chances are you are better off selling and reinvesting that money in a higher cash flowing property. You have to run the numbers and see what your return on equity is.

In terms of a light fix up and then selling, not sure that is necessary. From what you are describing a developer will likely tear it down. Why spend the money?