The “premium” that we speak of is a tuf nut to crack. I can totally see a property on the bay side walk with frontage and view would have a sizeable premium. But the porperties inland, no view, small lot, mixed zoning. All that put into the “premiun” equation wobbles the brain.
A few block away, there is still a premium, still way rich for the family guy.
If I wanted rental income, an apartment building would be my first choice. If I wanted a SFR with a yard, that would be my focus. Trying to combine the two seems like the wrong way to go for a long term real estate investment.
Once that second unit is built, it will always be a rental. The main home will no longer be the SFR it was intended, nor the community which planned for SFR’s with a yard.
Sure, several years and some deep pockets could always bulldoze it. Then build what?…multi unit seasonal rentals? or Condos? No thanks.
BTW, The corner of PB Dr. and Mission Blvd. condo project is under way. Does anyone remember what happens at that intersection when it rains? (hint: it’s the lowest spot in town)underway and soon to be underwater (ahoy condo owner!)
