Here is the playlist for the Depot that shows all the units so far. ru-vid.com/group/PLoQKPI7WPeHgCV7w7wclri-Nh5oV4nYuI I have just numbered them in the order I have seen them so far. I may go back and re-number them to match their actual unit number when I show them all.
All the units needs a major overhaul to get it clean up and looking better. Clear out all the units and slowly get them looking a lot better with major updates. How can people live in this units that’s are so bad.
I chuckled a little bit when you said you didn't think squatters would live there. There is an abandoned hotel not far from where I live that has been inhabited by several people. It's far worse than this too, black mold, leaking ceiling, broken out windows.......Some people are desperate enough, they will live in just about anything.
The problem is that even renovated you will always have low end tennents in that location and that kind of building. It needs to be fumigated and rehabbed down to the studs.
I still think this looks like an Old Church. The Train Depot, pictures don’t match up in my opinion. By getting access to the attic, you could find out more history, about this building. It would be cool to try and use the attic space for the upper units.
Alpine WSG 3 oz and Tekko Pro IGR 2 oz per gallon spray for the roaches, bed bugs etc. Great for indoor spray, non toxic and it affects eggs, is carried back to the nest in the walls, too. The IGR prevents development of future bugs. Safe for humans. Lasts for 6 months but maybe respray ever 3 months pending the quality of your tenants.
Mark: I still say, suck in the government to this deal. The Housing Authorities are begging for Section 8 units, particularly for the elderly which, those units are perfect for. One call to the housing authority or even HUD (Denver). Initially, the government tries to put the onus on rehab to the developer.....but use reverse psychology and ask the government grunts to grease the skids and even offer grant money....then approve for Section 8/elderly.........then sell in a year for $2+ million.....
Can you just tear everything down….but it doesn’t look like a good area to live in……to think people lived in there just floors me….i’d be in a hazmat suit….😊
Man I am just not seeing the ROI on this one unless I am missing something, holding and remodeling costs is going to be well over hundred grand for 8 units. You are going to encounter a lot more issues once you start digging in. Empty unit was paying $500, but you think you can get $1k after its fixed up. 8k/mo fully rented? Seems like a money pit, but best of luck