Renovation to a Single Family Or Triplex?

[Grace Lerner]

Hello BP! 

I have recently become excited about a townhouse for sale in my area and I need some opinions. 

First some facts:

The property is currently being used for SRO. It has about 3,600 sqft, and three floors. It needs some updating, but nothing outrageous from what I can tell without a formal inspection. (I mean it has walls/plumbing/electricity so that’s a plus right?). 

Now my question:

Do you think that it would be more attractive to a potential hard money lender if my proposal for this property was to renovate it into a single family home and ultimately resell it? Or if my proposal for this property was to renovate each floor into its own apartment and then sell the building as a three family? 

I can easily find comps for the single family option, which are essentially listed at twice the asking price of this property, but I am having trouble finding comps for the three family option. 

Any experienced financers out there who want to weigh in?