Tri Plex Rehab plus buildable Lot
Hello all,
I have found a Rehab project property which has an existing Tri _Plex which needs gutted to the studs and
rehabed. My ballpark is 125 k, I was a contractor for 22 yrs and that figure is off the cuff.
the property also includes a buildable lot which the realtor believes could sell for 325 to 425 K depending on
our prep, whether we get permits and plans for it.
The tri-plex has not had anyone living in any units since before 2015 when the seller paid 425 for it
there is 900 square feet of unfinished space which I believe we could make into a fourth unit.
The realtor says if we make a four plex out of it and do it nicely it could market for 1 to 1.5 million
plus the lot.
The property has been on the market for 45 days and the seller has not had any offers he told the
realtor he is very motivated and to bring him any offer. Listed at $729,888
Massive opportunity here?
I was a contractor for 22 years and though I am not willing to swing a hammer I am very familiar with
what needs to be done.
I took a few pictures and videos.
A four story senior care center is going in kitty corner from our property and the realtor says there is
a chance at a zoning upgrade.
I am a novice but it looks like this could be a home run. I am looking for a seasoned investor who
will give me a piece of the pie to work with him on the project. Best Case or just buy it wholesale and
pay me a finders fee of 5% the sale price.
Please respond here if you are interested. Thanks you.