Updated over 6 years ago on . Most recent reply
Seeking $170k for 12 months @ 8-10% interest (no HML)
Former group home in downtown Dayton, OH. Two single-family homes were impeccably remodeled to form one large residence.
The previous owner has invested over $900,000 into the property and is offering it in move in condition.
1st Floor:
- 10 single rooms (80-100sf),
- 4 full bathrooms
- Large commercial kitchen
- Laundry room
- Large dining/meeting room (connected to kitchen)
- Sitting area
- Administration wing with 4 small offices* and a half bathroom.
2nd Floor:
- 2 efficiency apartments with kitchenettes and 3/4 bathrooms
- 3 living room areas
- 4 meeting rooms*
- 1 full bathroom
There are two basements for storage.
The entire building has:
- Central air & heating.
- Fire alarm and suppression system
- 10 parking spaces and additional street parking.
Centrally located on Wayne Ave just one block south of US-35
Total Purchase Price: $187,000
10% (18,700) earnest money has already been deposited
Closing: May 20th, 2019
Most Popular Reply
1st Lien position.
Exit strategy: BRRR
Purchasing at price of warehouse space ($20/sf x 9,000 sf)
Residential values in South Park neighborhood: $60-$80/sf
Business Models Being Considered: Group Home / AirBnB + Hostile / Co-Living