Convert 4 Unit into 5 Unit in Bayonne, NJ

[Raj G.]

Hi Friends, I have seen some 4 unit homes in Bayonne, all have one duplex.

I was just wondering why all have one duplex, why didn't they made it 5 unit home, even though both floors of duplex have their own kitchen , living room etc, so technically they could be two separate apartments.

My concern is if I buy such building and convert it into 5 units by converting duplex into two units..what are expenditure, legal issues and  procedure..Thanks in advance.

[Chris Masons]

Hi Aniket,

Going from 4 units to 5 units IMO would be a big headache as zoing status changes from residential to commercial.

Up to 4 families is still considered residential, once you go to 5 units you are now commercial. Not to mention lending guidelines completely change as well....

If you have no experience I suggest get your feet wet with some rentals and learn the business before taking on a project of this magnitude.

thx,

Chris