Rough estimation or range of adding a 3rd Unit

[Kevin Branin]

Hello BP Flipers! I am looking at a duplex with an unfinished basement, first floor apartment, the second unit occupies the 2nd & 3rd floors. Access to the bi-level unit is by a wooden stairway/deck on the 2nd floor.

My plan is to convert the 3rd floor into it's own unit, (thinking of making it a studio). It would need a kitchen and a bathroom added, plumbing would have to be run up from below. Both 2nd & 3rd would need to be gutted. I plan on either living in or renting the 1st floor unit while the construction takes place, then rehabbing that later. Built in 1939 as a duplex. Zip Code is 19129 in Philadelphia. Access to the new studio and 2nd floor unit would be similar to the picture below.

I'm thinking of making these modern unit with SS appliances, decent cabinets, and midrange counters and plumbing, etc. I'm not going for high end luxury, rather a practical living space with decent items. Probably going to use the BRRR Strategy

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I'm just looking for a rough estimation of how much this will cost...or even a range. I have not even been in the property to see what need to be done; I'm just want to use this number for my calcs to make an offer. Are we talking over $100k to do this? Over $120? $140? Please let me know what you think.

-Kevin