All Forum Posts by: Peter Ngu

Hey! Thanks for stopping here! Heres the back story:

My Triplex had fire damaged that was caused by the neighbor house

The First floor has 1 unit and 1 illegal unit. (city is making us remove the illegal unit). Picture below shows a purposed ADU my architect drafted up.

The Second floor has 2 units. 

And the Third third Floor has a huge space and i want to ask y'all if i can even convert it to another unit?  

The building is 3710 SQFT on a 6437 sqft lot in Oakland, CA

TLDR: If the Property is a triplex how can i get it to a legal 5 units? or is it not possible.

@Dave Foster very help! Thanks for taking the time to write this! I’ll keep you in mind when I do a 1031 some day!

@Wayne Brooks Thanks for the reply! This is exactly what I needed

I own a mix use building $1.1M . Got a SBA loan a little over a year ago to purchase the building. Originally want to open our second popcorn store there but changed my mind. A friend is offering to buy my property for same price.

My mother in law has a Mix Use property she wants to sell $1M to $1.5M. She owns it out right. The lot has 2 buildings on one lot with a commercial space that I want to expand our Popcorn business into. Currently 4 units on 10k SQFT. My Architect say there is enough room to build 4 ADU on the lot.

Can I do a 1031 exchange for the properties? Is there other financing options I should explore?? This is my first time posting on BP 😬

What where your first doubts?

@Bryan Noth thank you! Thoughts on joe Rogan moving to Texas?

Hello

First time posting on BP...

My in-laws are giving me the flexibility to do what ever I want to a property they had under construction for over a decade. Yes a DECADE!

Property details:

-2 house on one lot

House A: 3BR, 4.5BA

House B: 4BR, 2BA

-Water front view of the California Bay

- currently 4 units but city is now allowing to build a additional 4 units

I want to test out assisted living/ care home mode for this property and wanted to know your thoughts? Population is shrinking, people aren’t having as many kids. Who’s going to take care of my old ***.

(I’m 33, married, with a 1 month old)