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Updated about 3 years ago, 10/08/2021
Unadilla Mixed Use Property
(cross posting from a few days ago)
Hey All - an off-market deal was just put in front of me and I'm looking for options/ideas that could make it work.
Mixed use building. small commercial space on ground floor, 2 vacant apartments upstairs, crumbling barn in the back.
The owner wants $60k for it, the two apartments are move in condition and rent for $600 & $750/month, taxes are $4k/yr. The rentals would cover any loan however I would pay cash up front and look to re-fi. My thought would be to knock the barn down and put in self storage, or build apartments. My question, is there pre-fab self storage companies that can come in and plunk down a set up, and what sort of cost would I be looking at if so? Secondly, what to do with the commercial space up front? If anyone is familiar would the area I'd love to hear thoughts and opinions.
Open to any and all suggestions, thank you!