Building Garage Apartment, Worth it?

[Jon Arteaga]

Hi All, 

I'm looking to build a garage apartment. Currently I have a 24x24 2 car garage and i'd like to invest some savings into converting it into a single family dwelling. My town hall approved of this and i'm curious if anyones here had an existing garage and added a second floor? I would be removing the roof to add a complete second floor. The garage is currently on its own deed, electrical and taxes from my rental across the street. I have a budget of $60,000 to complete this. I've seen some model plans online and would like to know if anyones who's done it can offer advise. From an investor perspective, a 1 bedroom apartment with garage in my area can rent out for $1000 easily. I'm unsure if I should consider a 2 bedroom and charge $1300 or if it'll too small to consider for 2 bedrooms. Any advise would be much appreciated!

Thanks 

[Jon Arteaga]

@Tyler Work Hi Tyler, thanks for the reply. The garage is across the street from my rental & could hypothetically be sold off on its own if need be. I think It could easily sell for $130,000