Remodel & Renovate in 02904>Question Details

smoorehead28…, Home Owner in North Providence, RI

Should I convert my multi-family to a single family in North Providence?

Asked by smoorehead2876, North Providence, RI Wed Feb 20, 2013

Have a two story 2 unit home both with 1br and 1 ba...need to know what is best for the market when I sell it in the near future

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4
Peter Micheli’s answer
Hi, I would keep it as a multi family. You could decrease the value if you convert to a single family. It is easy to go from a multi family to a single family. But it is difficult to create a multi family. Especially if the property is grandfathered as a multi. You may not be able to get the 2 family back again. So just keep that in mind.
0 votes Thank Flag Link Sat May 31, 2014
I would also get bids from some contractors to see how much it will cost to convert it to a single family.
0 votes Thank Flag Link Mon Oct 28, 2013
If the property was originally a single family converted to a 2 family, then converting back should be an easy process, but if you are taking a property that was built as a 2 family to convert to single use, then this is something that really would not add any value and more than likely, cost more to do than is worth it to do.

As far as investment property, you are better off leaving it as a 2 family with better rental income than you would get with a single.

Steve Gillikin
Broker, RE/MAX New Horizons
Steve@SteveGillikin.com
401-595-3886
0 votes Thank Flag Link Wed Feb 20, 2013
Are you having trouble getting it rented? Or are you not getting enough in rent to cover your expenses? Once you convert it to a single, what do you plan on doing with it? Your best bet is call a Realtor and have the realtor take a look at it and what the demands are for the local housing (single family vs multifamily) Also, as a Realtor, we see lots of houses and know what works and what doesn't with conversions. I will be glad to help you with your decisions. Good luck!
0 votes Thank Flag Link Wed Feb 20, 2013
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