Should I add an ADU to my Multi family property?

Should I add an ADU to my multi family property?

Have you thought about adding an accessory dwelling unit to your muti-unit property? Last year saw the passage of SB 9 and SB 10 which make it much easier to add additional units than it had previously been. Whether you have a SFR, a duplex or a multi-unit building, you may be able to add additional units through a much easier process than was previously available to you. This could add value to your property that could well exceed the cost of construction.

This may also be a consideration if you are thinking of selling, because the possibility of adding another unit may add to the value of your property for the new owner. Even though construction costs have gone up dramatically since the pandemic, it may be wise to look into the possibility of adding a unit. 

Always check with your General contractor, CPA, and your own legal counsel before moving forward with any additional units, but it may be a good idea to explore the possibilities. We are Real Estate brokers, so we can’t give legal or accounting advice.

What PRS PROPERTIES CAN do for you is give you a good idea what your property is worth in the current market, without any additions and whether an ADU would create enough value to make it worthwhile.. Remember, we are apartment owners too! We have investors looking and quite often, we can put together an offer without a listing. We just closed 8 units in Long Beach which was never listed. Any questions? Give Steve a call anytime.