What would you pay for this?
I looked at a large yr 1900 building today. The exterior has been redone. The interior is completely gutted. No heating, no plumbing, but septic exists.
It is 3500 sq ft. Good location for a rental..not an OO, as you can see the highway from the top floor. It is 2 floors, and the basement, to me, looks like it could be another aptm - separate entrance, high ceiling, lots of open space. Roughly 1700 sq ft per floor, and basement has the same.
Now to bring this to a 3 fam, my rough first look estimate is 60k.
Rents in this area * conservatively * would be 800 per unit, for 3 units.
What would you pay for this?
