Both meanings are possible.It would depend on the context.

As you said, I think the sentence can be taken both ways. To make it clearer that the "he" is the owner of the restaurant, I think the sentence would be better like this: "He owns a good restaurant in his neighborhood. Hope that makes sense...

There are two possible interpretations of this, but as native speakers we would NOT assume that 'he' is the owner. We would assume that it means - as you said in your comment below Tavia's answer - something like 'He has access to a good restaurant'. The phrase 'in his neighbourhood' suggests that this is the case. It suggests that it is convenient for him to eat there. For example: Does Joe cook much? No, he never cooks. So what does he eat? Well, he has a good restaurant in his neighbourhood, so he goes there a lot. NB This question seems to be causing a lot of problems. A few months ago, a Chinese member ( called Tom, if I recall) posted a whole series of queries about almost this exact same sentence. Is he a classmate of yours?