They are usually in areas with a higher concentration of investment properties and investors tend to suppress the pricing market (go figure... everyone wants them cheap.)

Will the added units make the building call for fire escapes, and fire suppression equipment, or ADA upgrades, or an elevator, or upgrade the whole place to 2023 Electrical code or etc...Is there enough electrical amperage at the service entrance for the added units or will you need another drop or a transformer or something like that.Will construction noise drive other renters to not renew (???)

We can all thank the Fed for suppressing interest rates for so low for so long.

The problem with 4 units is many cities will require a fire suppression system that adds $$$ to the bottom line.  

Piggybacking off of Brian-Zoning and is there fire suppression in place and if not will it be required if you do convert it? 

Obviously the cash flow might be a little suppressed due to the neighborhoods being higher quality.

Here are three things commercial agents need to do:1) Build a good Rolodex2) Learn the math3) Understand buildings and the features that are important to clients: electrical amperage and phases, ada compliance, connectivity, buildout options, parking, HVAC capacity and air exchange rates, fire suppression systems… 

If higher interest rates suppress the ability of buyers to drive up prices, and if in a year there's more inventory because sellers can't wait forever, maybe there's a dip to swoop at ....Farther out 1-90 is a good idea too. 

Fire suppression, wood structure, nearest fire hydrant, etc.  

Legal- permits, zoning, EPA, OSHA, Handicap, any grandfathered in items which you will lose such as fire sprinkler noncompliance; Kitchen or Stove fire suppression, smoke detectors, carbon monoxide detectors, maintenance/inspection checklists, C.