Hi BP family,
I've been on BP for awhile now but have never posted on here before. First off, I'd like to say how helpful I've found this website to be when it comes to me having a question about anything real estate related. I am 20 years old and have yet to do my first deal but I'm looking forward to getting started as soon as possible.
Okay now let's get down to business.
I am a licensed real estate agent teaming up with multiple investor clients looking to purchase property in central Austin. West campus if the right opportunity arises but more specifically-- Hyde Park, North Loop, Rosedale, and Brentwood. I was prepared to submit an offer on behalf of my client for a duplex off W. North Loop but before we did I called the city zoning department to get more information on zoning restrictions for the property. I was informed that City of Austin zoning laws state that any property built after (I believe, June) 2002 say that there are no more than 3 unrelated tenants allowed to be living in a property unless it is zoned multi-family.
The problem with this is the duplex has 5 bedrooms on each side. I'm not sure why the builder would put these extra bedrooms in the property when it is not legal to have 2 extra tenants living there.
Does anyone know of a link with more information regarding Austin zoning laws for single-family residences and duplexes? Also, if anyone has a link regarding this 3 unrelated tenant issue specifically it would be much appreciated if you could post it as a response.
We believe we've found another potential opportunity to invest in however it is a single 5 bed 3 bath home on a big lot - zoned duplex. I'm wondering if building another unit will cancel out the grandfathered clause allowing 5 unrelated tenants in the front unit?
Any and all help related to this issue is greatly appreciated. Thanks in advance for your time.
