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Updated over 6 years ago on . Most recent reply

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David Hume
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Rebuilding SFH to MFH Affordable Housing on Small Lots?

David Hume
Posted

I currently own 3 properties free and clear in Miami-Dade county. They're not in a great part of town and I rent them to section 8 tenants. However, they are all zoned RU3, even though they are currently just housing a single property. They are 2 50x140s and one 50 x 120. 

These structures were all built in the 1950s and they, quite flatly, suck. 

I wanted to know if anyone has had experience converting small properties like these to MFH's and if they have any affordable housing programs they recommend or if they know builders. 

I want to hold these long term, but I think I can get much more rental income from putting more tenants on them.

Most Popular Reply

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Teri Feeney Styers
  • Real Estate Agent
  • Grand Junction, CO
734
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1,325
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Teri Feeney Styers
  • Real Estate Agent
  • Grand Junction, CO
Replied

@David Hume I have done and am doing exactly that. Converted a SFH home with an odd floorplan to a legal duplex. Now building a second unit on a property where there was one already. Have under contract a vacant lot where I will have a small house and a "granny cottage" behind. All are in low budget neighborhoods (but not dangerous). All are properly zoned for more than one. I decided that was "highest and best" use.

  • Teri Feeney Styers
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