You live in one unit of your Los Angeles County duplex and collect rent from the other. If an ownership or planning decision depends on what the entire property is worth, the rent check answers only part of your question. A private appraisal develops and reports an independent opinion of the duplex's value for the purpose and date discussed with the appraiser, giving you a whole-property figure to consider in that decision.
Your home is part of the property being valued
The monthly rent tells the appraiser something about the rented unit, but it does not describe the unit you live in. Both units and their condition are part of the whole-property question.
For example, imagine a duplex where the rented unit is in good condition, while the owner's unit needs substantial repairs. The rent currently being collected would not tell the appraiser about those repairs. It would not, on its own, establish the value of the duplex or how much the repairs affect it.
Los Angeles County includes small residential properties with two to four units, and its local markets are not all alike. The appraiser needs to understand your duplex in its own competitive setting, including its layout and condition and the properties available for comparison. The value opinion depends on the actual property and market evidence, not a preset premium for a particular unit arrangement.
Make sure the report addresses your question
When you contact an appraiser, describe the decision you are considering and what you need the report to help you understand. If you want a value opinion for the entire duplex, say so. That is a different question from the value of a particular ownership interest. If you are unsure which question applies, explain your situation and ask the appraiser to discuss it with you.
Also explain who will use the report and the date the value should reflect. The date of the value opinion is called the effective date. These details help the appraiser discuss the assignment and the appropriate scope of work, so the report is directed to the question you need answered.
Describe which unit you occupy and which is rented. If available, have the lease and rent information handy, along with what you know about each unit's layout, condition, significant repairs and improvements. If an ownership arrangement is relevant to your question, share that information too. You do not need a perfect file before reaching out; ask what would be helpful if something is unavailable.
About CalRe Appraisals
CalRe Appraisals offers investment property appraisals for residential properties in Los Angeles County, including small income properties. Nana Smith is a California Certified Residential Appraiser with more than 25 years of combined experience across appraisal, property analysis, real estate investment, renovation and market research. A retired real estate investor, she also has a background in selecting, renovating and managing properties. That perspective is relevant when an owner is asking about a property that is both a home and a rental.
Contact CalRe to discuss your duplex and the decision behind your request. CalRe can discuss whether the assignment fits its services and what the report would need to address.