Turning a Duplex into a Triplex in Boston?

[Matt Nolan]

Hello BP!

I own a number of duplex in and around the Boston area, and I have project in mind for one property that I could use some help with.

The house is a duplex located in the Oak Square part of Brighton.  It's 2 bed/1 bath each, and it's on a 10,000+ square foot lot with parking for 4 cars (two garage, two additional off-street).  In addition to the current apartments, the basement has some great expansion potential.  It has high ceilings, a half bath, and maybe 1,200 square feet of usable space.  The basement has two private egress as well.  It also has a spot for a third meter, though there is not one currently present.  The home is currently zoned for a 2 family.

I'm looking to refinish the basement and create a third (legal) studio apartment.  I have plenty of money to throw at the deal, but am without the know-how.  I understand that it would be a serious undertaking with rezoning, permitting, etc, so I'm in need of some assistance from an investor/contractor familiar with the process in Boston.

I would love to hook up with a contractor that's willing to take on the job and work through the process with me.  I got a great deal on the home as it is, and with an additional unit the cash-flow would be great and the equity would skyrocket.  I would then cash-out refi, and look for the next deal.  I also understand that it might be a case of the city simply saying "no," and 'Id have to consider a plan B.

If anyone has a contractor to recommend, or is a contractor themselves, I'm all ears.  Any and all suggestions are welcome. 

Thanks!

-  Matt Nolan