Advantages of Purchasing Duplex
Hancock Park/Miracle Mile
Call: Gail Mercedes Cole
(310) 853-9933
View: Advantages of Purchasing Duplex
The real estate market is Hot in West L.A. and surrounding areas. Buyers have many options: Single Family Homes, Condominiums, Townhouses and Residential Income Property. The common choice is usually single family home, condominium or townhouse. Consider the duplex advantage. A duplex is a single structure housing two residence. Generally, West L.A. does not have neighborhoods with high concentration of duplexes. Surrounding areas Hancock Park and Miracle Mile have sections with a high concentration of duplexes. Attention to detail European Classical Old World designed architecture. Two units built around 1920s and 1930s. Living spaces vary from 2,000 to 4,500 square feet with large lot sizes. There are one level top and bottom units or townhouse style side-by-side units. Each units vary from 2-3 bedrooms and 1-2 bathroom. There are detached garages. Each units has the generous living space of a single family home. Financing is the same for a owner occupied duplex as it is for a owner occupied single family home.
Duplex Advantages:
- Because a the ample square footage of each unit the owner has the advantage of living in one unit 2-3 bedrooms and 1-2 bathrooms with the gross living area of a home.
- The rent from the second unit can off-set the owner’s monthly mortgage payments.
- Lending institutes consider residential property loans 1-4 units. Therefore, the loan requirements are residential lending and not commercial lending.
- Two family members can purchase a duplex together and live in each unit. Additionally, both family members will qualify for the loan.
- Hancock Park and Miracle Mile are well established neighborhoods.
Buying or Selling
Call: Gail Mercedes Cole
310.853.9933
License: 00788828
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