Event hall as a rental ????

[Steven Westlake]

So here’s what I found, an event hall building for sale. It has plenty of off street parking. Basically it’s about 2500 sq ft rectangle building with a kitchen and his and her restrooms in the middle and 2 large open rooms, one on each end. Includes lots of chairs and tables. It’s 2 blocks off of a major road. People rent it for weddings, family reunions, etc for maybe $150-200 per day per end. It needs some major updates, but seems to have good bones. Rooms are approximately 32x40 each. I figured all in, with updates, I’ll have maybe $250 k in it.

Please give any and all thoughts.

Worse case it could be converted to regular apartments. But with all the covid19 no eviction garbage, I’m thinking this might be worth looking into.