Would this deal be considered residential or commercial?

[Charles McCabe]

Hi, everyone,

Subject deal is both halves of a large twin. MLS lists it as 4 apartments and 1 (unoccupied) office and says "This listing includes 123 & 125 Steet Ave, twin building (Tax ID XXX and YYY). To be sold a bundle." Each half has it's own listing in the county database and both say "Property Type: Residential"

I've seen some references to residential being "1-4 living units" (which wouldn't include the office) and I haven't found the actual HUD wording on the subject. Can someone tell me or point me to the exact criteria? Does it depend on how it's actually being used (e.g. the office isn't occupied now)? How it could be used based on the layout (e.g. existence of bathroom and kitchen)? Is it a moot point because it's actually two properties?

Thanks,

Chaz

[Joe Splitrock]

It sounds to me they are residential and probably would qualify for conventional financing based on the classification in the tax records. Technically it sounds like a mixed-use but appears not to be classified as such.