Need lender for rehab project in Springfield, Mo- 4 Plex
I am needing 55k to rehab an existing 4 plex building in Springfield Missouri for about 6 months. Can anybody point me in a good direction?
Building was fully rented 2 months ago at $395 per unit ( All 1 Bedroom ) but is very dated and owner was paying for the Natural Gas as building electrical was limited and all needs to be updated and electric based heating/cooling and cooking so tenants can pay electric, leaving just water/sewer/trash and hallway lighting for owner expense.
Roof is newer and was sealed a year ago and Rated a #1 by Insurance company, I just need to update from the studs out on the interior and paint building and add some landscaping.
I have a free and clear deed as collateral and expect to be able to clear the loan in less than a year.
This building as built in 1900 and sits across the street from Grant Beach Park in Springfield, Photo was taken a few years ago when it had better curb appeal.
Property Today