OVERVIEW
We took a red tagged attic space from this 1910 property, and converted it into a brand new 4 bedroom 2 bath unit.
- New Foundation
- Conversion from 3 units to 4 legal units
- New Beds/Bathrooms (downstairs unit)
- New Beds/Bathrooms (upstairs unit)
- Drafting/Construction Documents/Permitting
- New Facade & Porches
BUDGET
150K
- Demo and Reframe Attic into to 4 Bedroom 2 bath unit
- Remove and Rebuild front porches
50K
- Remodel Downstairs Unit
- Add 1 Bedroom
- Add 1 Bathroom
- Install Mini-split Heat/Cool System
- ADA compliance
25K
- Utility, Trenching, Panel Work
ROI & OUTCOME
Before
Unit 1 Income $21,000
After
Unit 1 Income $29,400/year
Unit 2 Income $28,200/year
Gross Increase $36,600
Improvements $225,000
16.3% Return
Unit 2 (New)
This was an attic space, unused and was converted into a fully permitted and legal 4 bedroom 2 bath unit.
Unit 1
This was a tired 3 bedroom 1 bath unit, which was stripped to studs, then re framed into a 4 bedroom 2 bath unit.
