After acquiring this home in August 2018 as a long-term rental, we chose to pivot from our initial strategy when we acquired two neighboring homes.
Now that we own all three adjacent properties, we aim to subdivide the combined 0.6 acre parcel into 18 smaller lots, upon each of which a new home can legally be built. Currently, each of the properties is improved with a single-family home, which we intend to keep rented out while we work through the entitlement process.
By increasing the density of the land usage by a factor of six, we expect to sell the newly subdivided property to a homebuilder for substantially more than we invested, while creating the opportunity to build new homes at a more attainable price.
