Purchasing a Small Multi vs ADU in SD

[Mark Baldwin]

Hi all. My wife and I will be purchasing in spring of next year. We know it's going to be a house-hack of some type. However, a decent du/tri/quadplex is min $2-3M - we can't qualify for a loan for that. We can likely afford a cheaper smf residence however it's going to start in much worse condition as well as be located in a much less desirable location. Or we can buy a decently updated sfh and perhaps build an ADU, but the costs associated with that (lumber, permits, etc..) are probably just as exorbitant. I'm not sure how to attack this issue. All suggestions are appreciated.

ALSO, are there any local REI meet-ups in town?

[Maxwell Ventura]

@Mark Baldwin

I'm looking at a few gorgeous SFRs in Oceanside / Carlsbad (west of the 5) for significantly under 2M. There are also a handful of duplexes in those areas further north under 2M as well. 

I also see a triplex in Encinitas (east of the 5) listed at 1.9M on a 6K sf lot.  All 3 units are fixers but appears to be tremendous upside if you have or can acquire the capital. 

So, I believe you may be able to extend the bottom range of your projections.

We host a meetup at our downtown office location approximately once a quarter w/ an emphasis on ADUs. Happy to let you know when we schedule our next one. 

Cheers ~