"For Storage Only"

[Lauren C.]

Hi BP Community,

I toured a 3 story duplex yesterday in New Jersey and with some small changes, this property could be a great investment. There is just hang up. The property has an illegal third floor 1 bed 1 bath apartment.

In order to make the deal profitable on my end, I would want to remove the kitchen in the third floor, leave the current 3rd floor bathroom and bedroom and legally combine it with the 2nd floor unit via the existing stair case making a 2-floor 3 bed 2 bath unit. The agent stated that the third floor is legally usable for storage only. So my question is, what makes a floor an approved living space? Do I just have to add a fire escape or some other safety features? Is converting the space from "for storage only" to a legal living space difficult? I've looked through the towns zoning documents for a while and I just can't seem to find anything.

Any information would help.

Thanks all!