Real Estate Investor · Austin, TX · Member since 2012 · 50 posts · 5 votes
Has anyone in the Austin area had experience/success in applying a condo regime to a lot zoned SF3? The lot presently has an 800sqft house on 0.29acres. The goal is to build a 2nd home on the lot, apply a condo regime to the lot, sell the 2nd home and keep the 1st home as a rental.
Stone Mountain, GA · Member since 2010 · 267 posts · 72 votes
13y
Seems liek a small lot --it depends on configuration --do you have access for second drive way --at least 20 feet wide --to go back for second home --just divide the lot or build as duplex --keep it Fee simple Not
Condo --so you do not have to maintain --- check with some architect
student at engineering college
Real Estate Investor · Austin, TX · Member since 2012 · 50 posts · 5 votes
13y
Thanks Champak Shah!
Bryan Hancock thanks for taking the time to visit with me and thanks for the referral. I've looked Adam up and have found his contact info online. Thanks again!
Investor · Austin, TX · Member since 2013 · 452 posts · 309 votes
13y
Raquel Barela,
Based on city code, you can do this with a minimum 7000 sq. ft lot as long as there is at least 50 ft of frontage. Check the deed restrictions though. Some neighborhoods won't allow this.
The separate 800 sq. ft structure will dictate the max size of your second structure so you won't be able to use a direct FAR calculation. Use an architect and attorney that is familiar with these things. Message me if you'd like referrals.
Real Estate Investor · Austin, TX · Member since 2012 · 50 posts · 5 votes
13y
Thanks Lynn Currie and Bryan Hancock.
On an SF3 lot, can one or both of the homes/structures be sold off separately without either subdividing or applying a condo regime? I was thinking no. Subdividing is not an option as the lot is too narrow and I was thinking that the condo regime was the only way to enable selling each property separately. This is new to me so I might be way off here.
Investor · San Francisco, CA · Member since 2016 · 30 posts · 9 votes
9y
Hi all,
I own some properties on the East side. how far East would you guys go to buy and hold a property? I am always looking for good investments in Austin and currently own two lots in east austin