Non permitted guest quarters

[sunnycal]

Thank you for all the responses. It is in Hollywood, and I believe it adds value, but I have found no comps with similar separate guest room. I have not inspected this property yet. So if I did an adjustment it would be across the board. The home is worth over a million around 1.1 not sure about value on the guest room with no comps to support adjustments.

Look for other similar rooms like a cabana, studio, office, guest quarters etc.

 

[Webbed Feet]

Why no value? If it is attached, it could be used for other things like a family room, Rec room or another bedroom. State that it is currently being used for a non permitted use and then give value for permitted use.

Caveman says "What??"

 

[CANative]

Caveman says "What??"

If a garage is being used to house illegal immigrants at $100 dollars a head per month don't value the garage as a high density dwelling unit. Value it as a garage.

 

[Abzntminded]

Thank you for all the responses. It is in Hollywood, and I believe it adds value, but I have found no comps with similar separate guest room. I have not inspected this property yet. So if I did an adjustment it would be across the board. The home is worth over a million around 1.1 not sure about value on the guest room with no comps to support adjustments.

There may be slim pickins in the area currently, but there should be enough like unpermitted units having been sold in the past 3 or 4 years to get some idea of contributory value. At very least some well-established listing agents should have some opinion you can start with.

I've done a few of these in Whittier in the older neighborhoods; some of those accessory units were pretty nice, built back in the 20's and apparently as well as the main house. The tax rolls didn't include them in GLA, and the city couldn't tell if they should have been grandfathered in as permitted or not, as a lot of data was lost when they went to microfische in the 80's. I found current comps w/units on a couple of reports, but not all. I used a cost/sq.ft. that came close to indicating the contributory value of the unpermitted units for the comps (it worked out similar to cost/ft for garage/storage space) and applied it. Sometimes it made sense; sometimes it just gave me a headache.