- Joined
- Apr 19, 2021
- Messages
- 14
Hi there,
I have duplex zoned R-2 with non-conforming 3rd unit. The city is ok with it to stay as it's been built many years ago and there are permits for it.
I was thinking if there are benefits to legalize it? As obviously it would not affect my cash flow and probably will drive taxes up. After talking to City they proposing to rezone to R-3 and make it legal triplex.
I'm wondering how this density increase will affect land price and property itself as I heard mixed opinions? Will that drive property price up and help build additional equity?
Appreciate your advice!
Thanks
Tigran
I have duplex zoned R-2 with non-conforming 3rd unit. The city is ok with it to stay as it's been built many years ago and there are permits for it.
I was thinking if there are benefits to legalize it? As obviously it would not affect my cash flow and probably will drive taxes up. After talking to City they proposing to rezone to R-3 and make it legal triplex.
I'm wondering how this density increase will affect land price and property itself as I heard mixed opinions? Will that drive property price up and help build additional equity?
Appreciate your advice!
Thanks
Tigran