Condo Convert a Triplex for $$$?

[Michael LaMorte]

Hi Everyone, 

I bought a triplex in Brigantine, NJ (Island town right after Atlantic City) with the purpose to STR all three units. My realtor just put in my ear that another option I have is to condo convert all three units then sell them individually for a significant profit. Her projection was a 35-45% of total triplex purchase price. She also made it seem that the triplex was close to being fully "condo converted" (separate utilities and utility accounts).

I have zero experience in this field of condo converting, in researching it doesn't seem too difficult but can't determine the timeline.  If I did move forward with this option, I'd like to do it quickly before setting up STRs and having those systems in place.

Does anyone have experience in this manner or has completed a condo conversion in the past? How long did it take to get all drawings and permits in place / to complete the project?  Let me know!