3805 Lamar Street

Description

Unique turn-of-the-century multi-family property with huge value-add opportunities. Unusual early-20th-century building with lots of vintage details and 125 years' of local history connected to it. Great location with North Main Street just out the front door and across recently-remodeled Hyatt Park. Walk out the back and you'll be in a hidden city park: the lush and peaceful Lincoln Park. Convenient to everything. Enter the building into a large foyer with hardwood floors and traditional open staircase leading up to two of the four apartments. The apartments are expansive and cheerful with modern kitchens and bathrooms yet plenty of the things that cause so many to fall in love with these old houses. Each is over 800 sf and arranged as one-bedroom units but they could be redesigned as 2BR. Two downstairs units have washer/dryers. The apartments are fully rented and professionally managed. Large back yard and at the back of the property is a fantastic metal workshop/storage building. Huge 30' x 50' and currently vacant for the buyer to decide about. Most recently leased for $950 a month this shop comes equipped with lights and a garage opener with remote. Can be rented to tenants for storage or any one of a million other things for income. Lamar Street is a consistently successful street for short-term rentals and it seems that making at least two of these apartments into STRs and renting the workshop is an easy road to a great cash-flowing property!