Posted about 10 years ago

Hidden Treasure

I love old world charm. One of the benefits of living in a small town that once held more millionaires per capita than any other part of the US is the amazing architecture of some of our homes. These homes were built by the steel and railroad Barron's of the early 20th Century.

Over the past few years, I've been able to purchase a few mansions that have been converted to multi-family apartments. These homes were built from 1905 to 1926 and feature ten foot ceilings, slow growth timber framing and exterior brick work that would be impossible to replicate due to the cost of labor and materials today.

While these old treasures come with challenges, I still prefer these structure to newer buildings since they were built to last.

Here's what I found in the ceiling of a kitchen that I started updated.

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Can you believe someone went to all the trouble to reframe a ceiling 2 feet below the existing ceiling to hide this amazing oak crown molding? Plus, they covered incredible oak hardwood floors with carpet from the 70's.

I can't wait to see what I find in the other 7 units.

Here a photo of the exterior.

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Next time your hunting for a deal, don't limit your search to newer buildings. Homes built in the early 20th Century were built before the term "planned obsolescence" became popular.

Comments (6)

This is one of the reasons I look forward to investing in our hometown of Duluth MN! The old school architecture and craftsmanship that went into these classic buildings is unrivaled by today's new construction. It's very interesting to see how you have taken a classic home, restored/ uncovered its original beauty, and turned it into a multi-unit rental.

Sam Torvinen, over 6 years ago
I too like converted Second Empire / Victorian / Edwardian buildings ... they can be a boat load of work to bring to modern energy efficient, healthy home standards, but as you mentioned, you could not afford to build anything so majestic from scratch.

Roy N., about 10 years ago
Amazing Cory! I love old architecture....its a shame that builders don't utilize that kind of craftsmanship any longer. So tired of the old cookie cutter homes. My goal is to eventually start rehabbing historical homes. Keep up the great work!

Nicole Pettis, about 10 years ago
1. Nicole, as much as we would like builders to recreate these diamonds, it's just not economically feasible. The marketplace demands faux McMansions in the burbs so people can keep up with the "Jones." One way to combat this trend is take an old home and bring her back to its highest and best use without tearing it down. I've noticed their is a nice little niche for landlords that do this in our town and would imagine it's the same across the country. Hardwood floors, tall ceilings, and plaster walls provide a nice contrast to sheetrock, ranch molding and cheap carpet that has to bel replaced every three to five years.
  
  Cory Binsfield, about 10 years ago
That looks like a lovely property!

Dawn Anastasi, about 10 years ago
1. Thanks Dawn. I picked it up last year and it took about 11 months to polish it from a lump of coal to a shiny diamond. Now that the toughest part is done, I'm upgrading units whenever I get a vacancy. That's how I found the fake ceiling. Good luck with your investments!
  
  Cory Binsfield, about 10 years ago