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Updated about 7 years ago on . Most recent reply

Mike Moran's profile image
Mike Moran's profile image
Mike Moran
  • Investor
  • from Lancaster, New York
  • Member since Apr 24, 2016
Connect

User Stats

21
Posts
7
Votes
Mike Moran's profile image
Mike Moran's profile image
Mike Moran
  • Investor
  • from Lancaster, New York
  • Member since Apr 24, 2016
Connect
Mike Moran
  • Investor
  • Lancaster, NY
7
Votes |
21
Posts
Land & New Construction

Adding units to Increase value

Mike Moran
  • Investor
  • Lancaster, NY
Posted

I have a unique opportunity to purchase a 4-unit property With VERY large units (1450 SF each).  the market rent for an 750-850 SF 2 BR is ~ $800/mo whereas these units only fetch $950/mo (law of diminishing returns). My question is - had anyone ever converted a 4 unit into an 8 unit?  Essentially cutting the units in half and keeping the common hallway where it is. 

Costs? Ballpark?  Any insight or info?

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