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Re: [ Gen. Discussion ] Adolphus Avenue For Sale S
Posted By: Hot East In Response To: Re: [ Gen. Discussion ] Adolphus Avenue For Sale S (McMansion Owner)
Date: Wednesday, 14 June 2006, at 4:36 p.m.
The problem is that most of (if not all) of those boarding houses do not have a certificate of occupancy to be boarding houses.
There are older duplexes out there. Some were built in the late 50's and have a firewall that protrudes through the roof dividing one unit from the other. There are also ones that were built in the 60's which are more like two-family houses with a garage beneath them.
How much can it be (new math)? Let's say you have a two-family house with 5 rooms on each floor. You gut the kitchen and put down three mattresses in each room. That's 15 bunks per unit, 30 per house. You can hot bunk two shifts - shift A sleeps after work, shift B sleeps before work. That's 60 day laborers. You collect $300 cash every two weeks from each day laborer. You make $468,000 per year. Those are numbers I just pulled from the air.
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