Expert: Dick Dennis - 11/10/2008

Question
Hi Dick,

Can you tell me what a "2/3 Family" means? I'm looking at condos and see
many of these listed, but I'm not sure what that means. Do I live in 1/3 of the
house? Who owns the property and maintanence? Is this better or worse than  
a standard condo/townhouse?

All you help and information is appreciated. Thanks!  

Answer
In my 39 years in this business, Jack, I have never heard of, as you put it, a 2/3 house. Are you sure you're not reading it wrong? Like maybe it should be a duplex with one side two bedroom and the other side a 3-bedroom? Or maybe a six-unit property with two three-family units in the building. I would think this is a unit you would rent rather than buy. You would be expected to buy the whole property, meaning you would have tenants living alongside you. In any case, if you're looking for condos, keep on looking, if you want to live alone.

Here in California, a 2/3 family has not been advertised, and I have never bumped into one. A long time ago, I actually divided a two-unit building and sold each unit separately. It wound up being two two-bedroom, one-bath condos that way. I wonder if people in your neck of the woods have stumbled into that kind of real estate. I wish you well.

Dick Dennis       dixiedee13@aol.com