Would love to get some insight from the brilliant minds here..Here we go... I have a house (used as a duplex) on the front of a very, very large lot. There is a TON of unused land behind this house. I`ve approached the city about severing the land so I can build on it, they said no. I approached the city about changing the zoning to allow multi-unit, they said no. I approached the city about building a "carriage house" or guest house, they said they no longer allow that. No, no,no.
But they DID said I can build a garage. In fact that was what they suggested to me.
Here`s my very vague, initial brainstorming thinking: Can I get architectural plans drafted up for a "garage" with an upper level entrance with bedrooms, windows, bathrooms small kitchen etc... & rent out the top part to a tenant? There is a home down the street building currently doing exactly this which is exactly what I want... so if it passed the city permits then mine likely should too.
My question is, once the permit for me to build this is passed, can I then eventually install carpet, a lower level kitchen, lower level bathroom & windows in the large opening for the garage doors and THEN rent it to a tenant lower level as well. This will effectively create two duplexes on one lot (with the rear duplex technically catagorized as a garage) & will DOUBLE my current cashflow?
Would I need to use garage leases for the tenants?
Is this a far-fectched idea?
It seems a shame to have to look at all this valuable land being unable to be used for higher and better income use at the moment.
But they DID said I can build a garage. In fact that was what they suggested to me.
Here`s my very vague, initial brainstorming thinking: Can I get architectural plans drafted up for a "garage" with an upper level entrance with bedrooms, windows, bathrooms small kitchen etc... & rent out the top part to a tenant? There is a home down the street building currently doing exactly this which is exactly what I want... so if it passed the city permits then mine likely should too.
My question is, once the permit for me to build this is passed, can I then eventually install carpet, a lower level kitchen, lower level bathroom & windows in the large opening for the garage doors and THEN rent it to a tenant lower level as well. This will effectively create two duplexes on one lot (with the rear duplex technically catagorized as a garage) & will DOUBLE my current cashflow?
Would I need to use garage leases for the tenants?
Is this a far-fectched idea?
It seems a shame to have to look at all this valuable land being unable to be used for higher and better income use at the moment.