No. To claim any homestead, the residence must be your primary residence. Instead, you would use the 703.140(b)(5) wildcard to cover your equity interest up to the exemption maximum as applicable.
Mr. Berkus is correct. A homestead exemption is exactly that, your homestead, but you can use the California "wild card" exemption, which is considerably less. Please talk to an experienced BK attorney before you contemplate filing a Ch. 7 where you have non-exempt assets because the Trustee is likely to administrate (sell) them if they are of a certain value (which depends on a case by case basis).