Dean knows a thing or two about rental properties, so when ADU regulations lightened up in 2020, he jumped on the bandwagon.
I had a couple of properties that I was looking at to add an ADU to. Maxable helped me evaluate those and decide which was the best property to add an ADU to. Their guidance was fantastic. Now, I have another unit providing cash flow in my portfolio.
The Backstory
What’s something that every college student needs when moving away from home?
Housing.
Dean is a successful property investor in San Diego and when he found out how easy it is to build an ADU with the new state regulations in place, he jumped at the opportunity. With Maxable’s help, he was able to hit the ground running and build an awesome unit.
Four-Bedroom ADU for College Housing
Dean was on the search for his next property and thought, why not kill two birds with one stone? He could look for the perfect home to add an ADU to and double his passive rental income. Unsure about what to look for in his next property that would give him the most flexibility for building an ADU, he called up Maxable, who knew exactly what to do.
After sifting through the available options with his consultant’s help, he finally settled on a property just blocks away from the university, making it perfect to use as student housing. It also comes with a beautiful canyon view and a large driveway, making it ideal for easy construction.
A Home for Students
Dean hired on one of Maxable’s referral partners, Kevin Bussett, to design the unit. After much collaboration and brainstorming, they came up with a four-bedroom, two-bath, two-story design that was both modern and functional. Dean also added landscaping as a final touch to tie the exterior together, completing the overall look of the unit.
The tenants have already settled into their new home and are loving their new space. It’s close enough to the university to access easily and they especially love the great communal outdoor space for barbeques and looking over the canyon. Plus, there’s plenty of space for their dog to run around.
Not to mention, Dean certainly enjoys the passive rental income that his new unit is bringing in!
Credits
Designer: Kevin Bussett, AIA
General Contractor: Marc Boyea, On Time Home Improvements
