HISTORIC GUT:
solid structure owned by one of my solidest investors; put this 4-bedroom, 2-bathroom in one of our *top areas back together for A+ return .. easy one per fresh gut+demo!!
Clean shell with brand new roof – do whatever you want with its 4 bedrooms, 2 full baths (**once you put them back in). Electrical updating launched ⚡👌
more:
- lots of space outside & inside
- healthy ARV -&- CAP
- cap rate 10-13% even if you somehow put $100k into it
- covered front porch [large]; colorful covered rear deck
- OG:
- high ceilings
- fireplaces
- hardwood
- doors
- staircase
- walk-out basement
- big usable attic
- deep, semi-secluded & -fenced yard w/versatile spaces
- new electric panel; just need to finish filling-in
- obvious ROI
- ≈¾-mile to I-279 *or* 65 / Ohio River Boulevard
- ≈1 mile to AGH, Mexican War Streets, Northside Business Districts, Observatory Hill/Riverview Park
- 6-7 mins. to Downtown or Manchester
- few mins. to stadiums, casino, McKnight Road, all the good stuff
Even vacant lots similarly sized (or smaller) sell for $40k or so over there.
*ultraprime area: at the FineView – Central Northside – Perry South hinge (the axis famed for property value spikes)
- Taxes: $158
- Electric: Updating started
- Plumbing: Needs updating
- Kitchen: Needs one
- Bath: Needs both
- Roof: NEW
- Furnace: Old
- Hot Water Tank: Missing / needs one
- Windows: Need replacing (12)
- Floors: 2.5
- Parking: On-street & plenty
- Rental Potential: $1,425/mo (market or Sxn.8)