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April 15, 2008
How Much Are Smooth Walls Worth
I own a 4 unit building in the Center Slope. It's 20 X 65, so it's huge and all the apartments are floor throughs. However, even though there are six rooms per apartment, there is only one real bedroom. The previous owner, probably seeking to avoid plastering, wallpapered one of the units that will soon be vacant. He did a lousy job and now the walls have these bumps and cracks if you just paint over it. To remove the wallpaper is a huge job and then the walls would need to be replastered. I would imagine the cost to be around $18,000 if I'm luck. My neighbor is a professional skim coater and she says she won't even give estimates for removing wallpaper because it's so unpredictable as to how long it will take.
I can rent the apartment as is, I imagine, pretty easily for $2800. Am I crazy to consider doing the walls? How much more are people willing to pay for smooth walls? How much more can a huge 1 bedroom rent for in the center slope? I think three or four hundred at most. Plus I'd have to show it with the bad walls and potential renters would have to be able to imagine what a huge difference it makes aesthetically.
thanks for any input.
Comments
Had a similar problem in my old apt. No matter what I did glue kept making the paint I put up to replace wall paper bubble. Nice, relatively affordable solution - 1/4" sheet rock. Worked like a charm. Granted, I was dealing with a much smaller space, and not a rental.
Posted by: Johnny at April 15, 2008 8:52 AM
Hey Johnny, did you put that sheet rock on plastered walls? Many of the walls are plaster on brick and I'm wondering if that presents a problem because you cannot nail the sheetrock onto the brick too easily I'd imagine. thx.
Posted by: Brooklynnative at April 15, 2008 9:04 AM
This is exactly what they invented textured wallpaper for. You can get it with subtle, embossed, period-ish designs that are effective at hiding smaller bumps and crazing.
Posted by: guest at April 15, 2008 9:28 AM
I think you'll be very sorry if you paint over wallpaper. I've tried it. At best, it eventually peels off. At worst, it peels off the wall while you're still painting.
It's easy, albeit messy, to remove wallpaper yourself with nothing more that lots of warm water, applied with a large sponge, and a broad scraper.
Posted by: Bob Marvin at April 15, 2008 10:18 AM
interesting problem. The quick fix would be to Sheetrock over it but you still have to tape and plaster. Is this all about money? If it is I would just rent it ad is because you will have no trouble renting it in your location. However, if you want to fix the apartment for other reasons, take a month and make improvements. You will make the money back over time and you may feel better about giving a tenant a better place to live.
Posted by: guest at April 15, 2008 10:24 AM
It's certainly not all about the money, but I just rewired the third floor and spent a fortune on that and then had to replaster those walls. I'm now a bit reluctant to take on another huge project and expense, on the other hand, it would seem painting it again would be a waste of money. I'm thinking I should take some time off of work, and hire some men from Home Depot and do the work myself. Anyone know how much should I offer to pay those men?
Posted by: Brooklynnative at April 15, 2008 10:37 AM
You should pay those men at the very least the minimum wage, which is $7.15 in NY (altho I think the going rate is several dollars higher - you can bargain with them). And then if they work more than 40 hours in a week, you should pay them overtime. It's rare for contractors to pay OT, but it's the right thing to do.
Posted by: guest at April 15, 2008 11:41 AM
Actually, I was thinking if I could get them at $10 an hour I'd be happy.
Posted by: Brooklynnative at April 15, 2008 11:52 AM
Rent it as is. The cost of all home improvement projects is artificially high right now just like housing itself. Wait until the next time the apartment empties in a few years and the cost of materials and skilled labor will have come down as demand for both will have also.
Posted by: guest at April 15, 2008 12:05 PM
You could try just doing the living room. Then you'll know how bad it is in terms of effort and expense. You could then stop there and finish next time you change tenants (I agree with 12:05). Or if it's not as hard as expected, you could do the other rooms too.
Posted by: guest at April 15, 2008 12:27 PM
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