Rezoning land in Las Vegas

[J Torres]

Hi Everybody,

Quick question for anyone that has gone through this or has any input. I recently bought a duplex in Vegas which cash flows terrific and have been contemplating buying the land parcel next to it (it is vacant with no utilities or foundation just dirt) and buying two of the same duplexes on it as it is two times bigger in size. I looked up zoning and it states its an R-1 single family. Anyone have any experience with rezoning to R2 (multifamily)? Plan would be to find a contractor to build two replicas of my duplex on this plot and would effectively be two buildings with the plot being used as a 4 plex. I'm a buy and hold guy with 3 rentals under my belt so this would be a big step for me having to basically build a home from scratch but am excited at the possibility. Any thoughts or comments would be appreciated or experiences you've had in the Las Vegas area doing something like this, thanks!

[Bill B.]

@J Torres

Hey Jason, can I ask your thinking why you would build 2 x duplexes instead of 1 fourplex? It seems like the single fourplex should be cheaper to build, maintain and  maybe even lower taxes/utilities. and if you’re not dividing the land you can’t really sell them separately  

I own rentals here in Vegas and have also considered either buying a lot and building a single fourplex or buying a bigger plot and building a street of fourplexes, maybe with other investors each building their own. 

Please let me know what happens and if you find another opportunity for small multi here in the valley.