2 bed no l/r v .1 bed w/ living room

[Allana Alex]

Hello everyone,

Bronx multifamily-1st floor is currently set up as 2 bedrooms with no living room.  Should i make one of the bedrooms into a living room space and make apartment a one bedroom instead? (Bedrooms share the same wall)

I am concerned about possible high turnover and the quality of tenant i may attract if i have an apartment with no living room. Also I’m Just not sure if 2 bed is more desirable and can command as great or greater than a one bed with living room area

Any thoughts ?

[Patrick M.]

Where I am the difference between a renovated 1 bedroom with living space and a renovated 2 bedroom without would be negligible. If all things were equal and they both had a living space I would see a difference of $200-300. 

In practice I can rent a 1 bedroom much faster, they are much more in demand. And having converted one, small 2 bedroom to a more spacious 1 bedroom- I have no regrets and I think it was the best move for me.

I am not certain what your market would be like.