Good question indeed. This is going to be tough. In many cases these properties used to be fee simple ownership of two or more houses on one parcel(apn) that were “condominiumized” so that the units could be sold separately in the height of the bubble. So returning to that status might be possible but the city would probably want the units to meet current standards for density, setbacks etc or go through a variance process, all likely a real hard deal or impossible. I don’t really see anything but economic loss and emotional suffering in doing such a thing.I believe 2 Condominiums is a”higher and better use” than a 2 on 1.
Getting the property from a condo to separate sell-able fee simple properties is going to be even harder, although it might create more equity. The city always gets money for this stuff and these projects drive the economy a little through employment for third parties such as surveyors and engineers,so with building/development down hard maybe there are less roadblocks than there normally are to getting things done. I doubt it though.
