BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated about 1 year ago,
Mixed use property in Philadelphia
I'm looking to BRRRR a CMX2 triplex in Philly where the first floor must have a commercial section. I have a few questions I'm hoping to get clarity on. Maybe some people have encountered this before.
1) As the owner, do I need any special license (other than the rental license required in Philly) to rent that commercial space out as an office?
2) Has anyone been successful at turning that 1 commercial space into an apartment + office? The space is quite large (17' x 60'), and I wanted to split it into 1/2 commercial space and 1/2 apartment. The regulation only requires the first 30' from the front of the building to be commercial space.
I'm hoping to get some insight from you if you've done this before.
Thanks