Los Angeles condominium 3-3stori bilding and 18 taunhaus commercial or residential property?

Asked by Nzlatkin, Los Angeles, CA Sat Oct 5, 2013

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Randy Spaldi…, Agent, Los Angeles, CA
Sat Oct 5, 2013
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The size of the building and the zoning are irrelevant as to the type of property. If the use of the property is residential, then it is residential property. If the use of the property is office, retail, professional, industrial, etc. it is commercial property. Zoning only states how the property could be used. So a house, duplex or larger apartment building or condominium building were built on commercially zoned property which in urban areas is frequently the case, it is still a residential property. When it comes to financing, a loan on 5 or more residential units is considered a commercial loan by the bank, although the property is residential. The loan is a commercial type loan for a residential property. The use is what determines the type of property, not the zoning or the loan. In your case since the property consists of condominiums, each unit is a separate unit of ownership. There is not one loan on more than 5 units (a commercial type loan). There are 18 individual loans for 18 different owners of separately deeded property, and each loan is presumably a conventional residential loan.
1 vote
Thank 6211-6339, 6200-6342, 6320-6334 Morse av CA 91606 way we need install commercial water heater and elevator and more by building and safety
Flag Sat Oct 5, 2013
Randy Spaldi…, Agent, Los Angeles, CA
Sun Oct 6, 2013
By we I assume you mean the Home Owners Association. All properties from a single family residence to a high rise have to meet building and safety department code requirements.
1 vote
Gail Mercedes…, Agent, Beverly Hills, CA
Mon Oct 7, 2013
Hi Nzlatkin,

Not sure if understand question. But I think your referring to a mixed-used complex. This type of construction is trending in Los Angeles. Combination of residential and commercial. One good example is the Stella in Marina del Rey, CA. Another example is Playa Vista, L.A. 90094.
Mixed Up Culver City
http://www.trulia.com/blog/gailmercedescole/2013/08/tilden_t…

Mixed use encourage walkability and cuts down on carbon footprints. Making it more environmentally friendly.

Gail Mercedes Cole
EXP Realty Marina del Rey
310.853.9933
0 votes
Nzlatkin, Home Buyer, Los Angeles, CA
Sun Oct 6, 2013
Los Angeles condominium 3-3stori building 26 unit per building and 18 towu-hous 5 to 7 unit .total 165. Commercial or residential property? 6211-6339, 6200-6342, 6320-6334 Morse av CA 91606 zoning R3-1multiple dwelling residential .Why we need install commercial types water heater and elevator rec room and more by building and safety regulation, The use is a commercial. Thank N Z
0 votes
carlos parra…, Other Pro, Monrovia, CA
Sat Oct 5, 2013
What is the purpose of your question? For tax purposes anything more than 5 units and for financing is considered a commercial property from purchase and ownership standpoint. Obviously because there are 18 town homes it is mulch-family residential. If you are buying only one, then it is a residential loan
0 votes
Dorene Slavi…, Agent, Torrance, CA
Sat Oct 5, 2013
A milti family property this large is normally considered a Commercial Property.
0 votes
Kathleen Bec…, Agent, Santa Monica, CA
Sat Oct 5, 2013
What is the address? I will look up the zoning information for you. Most likely, it will be residential.

Kat
0 votes
Thank 6211-6339, 6200-6342, 6320-6334 Morse av CA 91606
Flag Sat Oct 5, 2013
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