Fixer Upper Friday: 2BR Convertible to 3BR for $525k in The Plymouth in Jackson Heights

Via StreetEasy

This week I profile a Fixer Upper extraordinaire. This home at 35-20 82nd Street, #41, has an unusually flexible floor plan that could allow an owner to add both a third bedroom and a second bath. As 3BR/2BA homes in this Jackson Heights neighborhood are going for upwards of $850k, there's about $300k of instant equity on the line for some lucky buyer, and that could fund a pretty swell renovation. Let's take a look.

The savvy realtors have already anticipated that the small room behind the kitchen might be converted to a third bedroom. However, the floor plan overlooks some additional potential.

Via StreetEasy

There's so much here for a renovator to love. A clever reconfiguration of awkwardly located doorways and tiny closets has the potential to equalize the bedrooms and add massive closets, while also adding a second bathroom with a pocket door to create a valuable master ensuite. And if those walls are not load-bearing and if the co-op board approves the plan, the purchaser of this home could open up the kitchen to the living room and add utility with a large island.

If a 2BR suits your needs, you can annex that space behind the kitchen to create a massive open floor plan. Now you've got light from three windows brightening a loft-like living space. 

If a third bedroom is a compelling sales point for you, keep the location of the kitchen as is, and create that third bedroom. But let's take our plan beyond the original and give our bedroom a real closet. While we're at it, we'll fix that awkward misalignment of the kitchen perimeter and still get that open kitchen island.

Is this home in estate condition? Definitely. You'll notice that there are no photos of the kitchen or bath in any of the real estate posts, and that's always a strong signal that they're in need of an upgrade. It's also located on the fourth floor of a walk up building, so that's a consideration as well.

I don't know enough about this co-op to speculate on the strength of its finances; that's something a prospective buyer will need to look into. As always when purchasing real estate, your due diligence is required. The maintenance at $540 is extremely low — about a third of what other 3BR/2BA co-ops in the neighborhood charge. The ad says there is a live-in super and laundry and storage in the basement. There's no mention of pets or subletting in any of the real estate listings, so that's a further thing to inquire about. This home is certainly worth a look-see should you happen to be in the market for a fixer upper.