01-14-2013 10:40 PM
While I'm waiting for my short sale to go through I'm fantasizing about what I'm going to do with it. There seem to be no other homes for sale in the area and I am thinking that maybe I would want to split the lot into 2 since its just over 10k sq ft.
Are there any resources that I can research while I'm in this holding pattern.
I know there's probably a lot of downsides to this scenario, but I was thinking if I could split the lot and sell the half I'm not using to a friend, I'd essentially have paid off my house free and clear as I'd be selling them the side with the house. I would need to build a new house but I could do that as slowly as I wanted to and live in a trailer on the land in the meantime.
01-14-2013 10:45 PM - edited 01-15-2013 01:19 AM
You just check whether lot is R1, R1-2 or R1-8 zones etc. You have to check with city (some cases county) office whether they permit dividing lot. City/County have rigid zoning rules and they may not likely allow you to convert/divide the lot. Do not assume you can divide but Check with City/County office.
01-15-2013 09:44 AM
If it is up to me, I want to put up a six-story building on my current lot and each story with one unit.
I rent them out to increase five times my current rent income.
How nice, there is no down side to my plan. And I have the money.
It is just that the city wouldn't allow me. They are only interested to talk to the big developers and assign/ convert large lots and put up dense buildings one after another. That, they said, doesn't cause traffic jam due to their 'careful planning'.
No your small investors are out of luck!
01-15-2013 10:33 AM
good plan but check with your planning department first, what the minimum lot size on that street is. You will need to give them the exact address, because some lots can have a funny shape that even though you may have enough sqft, they will not allow it.
Example: parcel adjacent to a T-intersection has 10,050 sqft. Minimum lot size is 5000 sqft. Upon initial asking them, this parcel cannot be split because one of the 2 new parcels would have to have a driveway that points straight into the intersection.
01-15-2013 01:56 PM
Most people investigage before they buy rather than find out after that they can't do what they want.
Who you speak to depends on your location. Sometimes its the building department, health & safety, township or something else. Could be county or city.
01-15-2013 01:57 PM
Thanks.Yeah at just at .25 acres it'll be tight . It's a pretty straightforward lot. I will investigateafter I buy it.
Do I speak with a builder or the city planners?
First, city planners not from builder.
See 272 WARWICK DrCampbell, CA 95008 says Zoning: R16
You will also see the current zoning standards in the MLS.
01-15-2013 02:59 PM
Pending city - you may also need to get approval from property owners around you. I recall a neighbor trying to do this many years ago on a very large lot. City was iffy about it and the neighbors shut it down. The location was poor and actually effected quite a few people and home values if it had been done.
Most people would assume that all builders and investors do proper review on a properties potential unit yeild but you would be surprised at how few ever do this prior to buying the land. LOL The largest development disaster in the past decade was in Hawaii - lets just say if the Experts had actually had the property reviewed with their plan/idea in mind they would have known going in that it was not possible and would be a big looser. LOL
01-15-2013 07:50 PM
Oh I'm buying the place no matter what. Either I will live in it or I will split. I don't care. Splitting the lot isn't the essential reason for buying this place. Just a possibility.
I'm in Oakland.