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>When you put 5 units where there was 1, the value generally doesn't multiply like that But it does in Seattle. Have you looked at any of those new units they'
by poulsbohemian 8y ago
>When you put 5 units where there was 1, the value generally doesn't multiply like that
But it does in Seattle. Have you looked at any of those new units they've put in through Phinney ridge and Ballard? That's exactly how it works - tear out one, put up X, and sell at a multiple of what the original would have gained.
- deleted 8y ago[deleted]
- losteric 8y agoI have seen $K single-family homes get replaced by $K condos in SF, but only because the original home was uninhabitable (ie property value discounted to offset demolition/construction) while the new condos were legitimately luxurious...