Dual-Exempt Richmond Duplex Transformation

The file

I bought this building myself: a rare dual-exempt two-unit condo building in the Richmond District, my own neighborhood. Dual-exempt structure meant low rent-control risk. The condition meant upside. I ran the renovation as owner-builder, no general contractor: exterior envelope, waterproofing, windows, and full interiors on both units. I pulled the permits, managed the subs, and lived on site for two years while the work went on around me.

The numbers came out the way the plan said they should. Rent from the second unit covers 120% of ownership costs, and the building’s value increased roughly 40% over the total project basis. My own capital, my own risk, my own execution.

It is also why my renovation advice sounds like a builder and prices like an analyst. I have carried the scope, the budget, and the timeline personally.