Appraisal Question - 5-plex listed as 4-plex

[Rane Shaub]

Hello BP!

I am in the process of financing a 5-plex I recently bought in Tacoma, WA. My local county, Pierce County, Washington, has the property still listed as a 4-plex on their records. We would like to get the property appraised and financed as a 4-plex so we can get traditional financing. I am wondering if anyone has ever dealt with a similar situation and if you have any suggestions for the appraisal? Could we identify one of the units as a common area or personal office? Any other ideas? Thank you very much for your help!

[Brie Schmidt]

@Rane Shaub in Chicago we have TONS of properties with "illegal gardens" so they are zoned and taxed as 4 units but have a "in law" basement/garden unit. Here is it so common (I would say about 50% of homes have them) that they are appraised and funded as 4 units and I have yet to see an issue be made out of it.