Does adding a bedroom increase Rent?

[Michael Lettieri]

I have a 1200 SF unit in Jersey City, NJ. I am trying to maximize rent for this unit. It currently has a 3 BR & 1 BA layout. It has the potential to become a 4 BR and 2 BA unit. Does taking space away from the unit's common area to create an additional bathroom and bedroom increase rental income? I thought that creating a 4th bedroom would increase rent but I can't find evidence of this in the market. I also assume that a second bathroom would increase rent but I'm not sure if it is worth the headache of going through the permit and approval process. Any feedback would be appreciated.