So Currently I have a 5 bedroom 2 bath double, and I am thinking about adding a 3rd Bathroom
The house is set up like so:
3rd Floor: BR/BR
2nd Floor: BR/BR/BR/Full Bath
1st: Kitchen/Full Bath/Dining/Living
So folks on the third floor have no bathroom on their level, and have to tramp down 1 or 2 flights of stairs in a towel. Taking a shower on the main floor then having to walk back up stairs does not sound like the ideal situation.
Also both bathrooms are pretty small. The third floor has 1 small bedroom, a common closet and 1 huge bedroom. I am relatively sure I can put a small bathroom in the closet, and steal some surrounding space, move the closet etc. So lets assume I can fit a small bathroom up there for a reasonable cost.
Has anyone done this? I am conservatively thinking this would raise rents by around 5-10% In addition to producing higher rents I just think it would make it a more functional and desirable unit to rent. Say the payback period is +-3 years.
What say you?