Rebuild or take down a 3 decker back porch?

Question

Not sure if I picked the right forum for my question:

I own a 3 unit brick building in Boston. Inspection showed the wooden back porches need some attention.

I got quotes to rebuild it for 15K$ or take it down for ~6K$.

Do you think adding the extra 9K$ is worth it for having porches?

Thanks.

Roee Agami · Answer

Thanks all.

I called the housing authority (My tenants are section 8) and asked them if there will be any change in rent in case I take down the back porches, they said there will NOT be.

the 6K was actually 4K$ tear down + 2K$ handling roof and sealing doors and such.

This makes me lean more towards taking them down. It leaves the only downside being property value potentially decreased, to my opinion.

Anyway I called 3 more demolition companies and asked for quotes.

Roee Agami · Answer

Thanks Steve, I very much hold the same opinion but the question is, at what cost?

Steve Babiak · Answer

For what it's worth, my tenants like having outdoor spaces whether porch or patio. Not always going to draw extra rent, but could make it easier to find a tenant.

Sam Shueh · Answer

Tear down quotes seems to be high. No skills involved. Suggest you get another quote or two.

Andrew B. · Answer

this is entirely location dependent. find similar properties with porches and find similar without. the difference in rent is x. if x per month is a high enough rate of return for you to spend an extra $9k then do it.

does $6k to tear down porch include any costs to close the doorways onto the porches? I imagine you cannot leave those intact for safety reasons.

Matt B. · Answer

I don't know your area so take it for what its worth, but I would think the back porch will help attract buyers as well as tenants. you may be able to command a higher rent since tenants can use it as a gathering for parties (i.e. Superbowl, birthday etc.).

Roee Agami · Answer

Thanks Eric,

My situation is a bit different, the parches are not used as an emergency exit. We have a secondary stairwell for that. I hope that's what you meant.

I got quotes for fixing it for ~10K$. I think that if I decide to keep the porches I'd better rebuild and put the extra 5K and get brand new porches which will last more hopefully.

To your/others opinion, are porches nice to have or a real factor for tenants?