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2 Units Re-Zoned to Condos.which comps to use?

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Well, well, well...so eloquently put. I think the Holy Hand Granade comment was more appropriate for this audiance than the Killer Bunny. Enjoy.
 
Part of the problem

Frank,

Part of the problem, and the reason for so many and diverse answers is that almost all if not all definitions of what a condominium are/is do not fit many of the modern versions of a condominium. That is why when someone tells me that it is not a condo but a townhouse, I have to respond. A townhouse is a type of archetectural style. But, in some states, due to the way the state law reads, it defines a form of ownership. In my market alone there must be at least 20 different archetectural styles that have a form of ownershi as a condominium. We have a Manufactured Home Park where all the condo units are double wide HUD Code Manufactured Homes. There is a 1950's era motel that has been converted to a condo. There are apartments that have been converted to condominiums. There are hotels where every room is a residential condominium unit. There are duplex, tri-plex and 4-plex's that have been converted to condominiums. There is even one condo complex where about 80 units are in a single 3 story building, but in that same complex there are also 4 single family style property's sitting on their own individual sites that are also condominium units. We also have many 2 unit condos where there are no condo fees, and no association. An older area of single family style property's averaging about 3,500 sq ft each, sitting on about 1/4 acre sites, maintained by the individuals that own them are also condo's. The key is....search the legal documents and find out if the form of legal ownership is condo or something else. Your city or county may have an APN system where they use a different type of parcel numbers for condo's than for othet types of property. And, each market throughout the country may have little quirks regarding defing a condominium.
 
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