Yes, it is rentable but not for the same amount and with the same convenience as an apartment type property.
So, perhaps you can rent it out, but again, check with the city...and be realistic on what you can charge!
Alain Pinel Realtors
First off, this document may be a great guide for you if you will be stepping into the shoes of Landlord:
Next, I would hit the City Permit Office (not sure if prop is in SR or dif city) to investigate the process for adding at least a mini-kitchen of some sort to make it more attractive to a renter, and/or any guidelines for minimal necessities in regards to ordinances, etc..