Sub dividing land and building

[Nick Dunbar]

I’m still a fairly green investor with a single unit under my belt, but came across a property on just over an acre of land less than .25 miles from a University. The vast majority of the students live on campus here; however, after looking at the area it is likely from lack of options. There are three small commercial apartments within walking distance from the property. Otherwise, the university is surrounded by single family houses.

I’m trying to understand where to start to evaluate this as an option. There are a lot of options here. Subdivide it and build two 4 units, get it zoned for commercial use and build, or buy the single family and fix it up to rent it out. I can do the numbers on the first option but don’t have experience in the other two.

Love to hear everyone’s thoughts.