internet commenters are allowed to spitball, obviously a 800 sq ft 1 bdrm can go from anywhere between a quarter mil to 2 mil depending on the neighborhood and

internet commenters are allowed to spitball, obviously a 800 sq ft 1 bdrm can go from anywhere between a quarter mil to 2 mil depending on the neighborhood and the view, OP's point is that converting to residential is a net positive for the real estate owner.